 Big technology companies led the way again after a major chip supplier reported how much its revenue jumped in June. A frenzy around AI has been a major reason the U.S. stock market has climbed to record highs this year. Investors are also hoping the Federal Reserve will cut interest rates. Seth Suttel, New York. Federal Reserve Chair Jerome Powell reinforced a message that the Fed is paying growing attention to a slowing job market and not only detaining inflation.