The AI boom continues to fuel big gains in the stock market. AMD stock jumped another 4% today, bringing its total increase to 30% since it announced a partnership with OpenAI. Micron (MU) is also up nearly 5%, while NVIDIA (NVDA) climbed 2% after CEO Jensen Huang appeared on CNBC. He talked about how AI is expanding quickly and how NVIDIA is involved in much more than just processors. Huang also noted that China is catching up fast in the AI race and has fewer energy restrictions when building out data centers.

Semiconductor stocks are having a great year overall. The sector opened higher today and is now up nearly 19% year-to-date. This growth reflects strong investor interest in AI infrastructure, chips, and related technologies.

Meanwhile, the U.S. government shutdown is dragging on with no resolution in sight. The main sticking point is healthcare coverage for non-citizens. Former President Trump added to the controversy by saying back pay for furloughed workers isn’t guaranteed. For investors, the bigger issue is the lack of new economic data during the shutdown. With job growth slowing and inflation pressures rising due to tariffs, markets are flying a bit blind.

A recent survey from the New York Federal Reserve shows that more consumers expect higher inflation in the next year, and fewer people believe their financial situation will improve. This is making some investors uneasy.

Interest rates stayed flat today but remain well above where they were after the Fed’s rate cut in September. Still, markets are pricing in a high chance—95%—of another rate cut later this month, with a 79% chance of one more in December. Historically, the Federal Reserve tends to lean toward cutting rates during government shutdowns.

In commodities, gold and silver hit new highs today, which may signal growing investor anxiety about central banks and traditional currencies. Copper held steady, while crude oil rose 1% to $62.30 per barrel, hitting its highest level for October. Natural gas stayed flat today but is up over 9% for the past month. Despite these movements, energy stocks were weaker overall.

The U.S. dollar index climbed back to 98.5, reaching its highest level in a month. In contrast, cryptocurrencies remain soft. Bitcoin sits at $122,500 while Ethereum dropped 2.7%.

Right now, AI is clearly driving much of the market optimism. But rising gold prices suggest some investors are hedging against potential risks with central banks and economic uncertainty. Despite all this, the stock market has been strong—up in five of the last six weeks—keeping the overall trend positive.