S&P 500 Index hits a record high, Alphabet surpasses Apple: What factors influenced the market trend on Wednesday?

On Wednesday midday, the S&P 500 index rose 0.3% to 6963.30 points, continuing its upward trend; the Nasdaq 100 index increased by 0.7%. Alphabet (GOOGL, GOOG) stock price rose 2.3%, surpassing Apple in market capitalization to become the second-largest company globally; Intel’s stock soared nearly 7% after releasing new products at CES. Apple’s stock price remained flat after five consecutive days of decline. ADP data showed that U.S. private sector employment increased by 41,000 in December, rebounding from a decline in November. Commodity prices fell: crude oil dropped over 1% to $56 per barrel; silver declined 3% to $77 per ounce; gold fell to $4450 per ounce; copper decreased 3.1% to $5.87 per ounce; palladium and platinum fell nearly 7% and 5%, respectively. Bitcoin dropped 2.6% to $91,000, marking the largest single-day decline in a month.