US stocks experienced a slight increase on Wednesday, as the S&P 500 index(SPX) edged up 0.2%, the NASDAQ(IXIC) advanced 0.4%, and the Dow Jones Industrial Average(DJI) gained 65 points ($0.1%) at open. 

Updates: As of 09:35:52 on Oct 08 ET, the broad-based S&P 500 index(SPX.US) elevates by 7.7 points or 0.11% to 6,722.3, the tech-heavy NASDAQ(IXIC.US) grows by 69.8 points or 0.31% to 22,858.1, and the blue-chip Dow Jones Industrial Average(DJI.US) depreciates modestly by 29.9 points or 0.06% to 46,573.1.

The previous session ended on a downbeat note, with the Dow Jones Industrial Average(DJI) falling 91.99 points ($0.2%), the broad market index pulling back 0.4%, and the NASDAQ(IXIC) sliding 0.7%. This decline was partly triggered by a report indicating that Oracle Corporation(ORCL) 's cloud business margins were weaker than expected, and the company was losing money on some deals to rent out Nvidia Corporation(NVDA) 's chips. As a result, Oracle Corporation(ORCL) shares lost 2.5%.

The report on Oracle Corporation(ORCL) 's cloud business raised fears of an AI bubble, similar to the dot-com bubble of the late 1990s. Many market observers are urging investors to rebalance their portfolios, though acknowledging potential upside before the AI rally exhausts. Liz Thomas of SoFi stated that market euphoria could intensify further before a turnaround occurs.

The government shutdown, now in its eighth day, is weighing on traders' minds. While its impact on equities has been limited so far, the risk to sentiment increases the longer it persists. Wall Street is also awaiting the latest Federal Reserve minutes, which could provide insights into the Fed's decision-making process following a divisive September meeting.

Gold prices hit new highs, boosting gold stocks like Goldmining Inc.(GLDG) , which surged 17%, and Coeur Mining, which rose 2.8%. Star tech stocks saw mixed performance, with Tesla, Inc.(TSLA) rising 1.03%, Nvidia Corporation(NVDA) climbing over 1%, and Intel Corporation(INTC) falling more than 2%. Goldman Sachs strategist Oppenheimer believes it is too early to worry about a bubble in US tech stocks, noting that recent gains have been accompanied by robust earnings growth.

Stocks to Watch

• Tesla, Inc.(TSLA) has launched lower-priced versions of the Model Y and Model 3 on its US official website.
• Alibaba Group Holding Limited(BABA) has established an internal robotics and AI team, while gold stocks generally saw an uptick.