US stocks were firmly higher on Wednesday with further support from the heavyweight tech sector ahead of earnings results from the largest AI companies and an expected rate hold by the Federal Reserve this session. The S&P 500 rose 0.4% to cross the 7,000 mark for the first time and the Nasdaq 100 jumped 0.8% to a fresh record, while the Dow added 150 points. Companies in the AI space, which have carried major equity indices since last year, advanced after ASML posted stronger order levels than expected. Broadcom and Nvidia were 2% higher, while Texas Instruments added 6% after its earnings beat. In turn, Microsoft, Meta, and Tesla hovered in the green ahead of their results publishing after the bell. Outside tech, Starbucks jumped 6% and 3% rose 3% following their results. In the meantime, the Fed was due to maintain its funds rate unchanged in their first decision of the year, while possible dissents may indicate the magnitude of fragmented views by FOMC members.