01:59 PM EDT, 10/08/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday ahead of the Federal Reserve's September meeting minutes, while gold continued its record run.

The Nasdaq Composite was up 0.9% at 22,988.1 after midday Wednesday, while the S&P 500 rose 0.6% to 6,752.3. The Dow Jones Industrial Average gained 0.3% to 46,763.8. Among sectors, technology saw the biggest increase, while consumer staples led the decliners.

Minutes of the central bank's meeting from last month are scheduled to be released at 2 pm ET. At the meeting, the Federal Open Market Committee reduced its benchmark lending rate by 25 basis points, noting increased downside risks to employment and signaling further policy easing later in 2025.

"Not all (Fed) officials are convinced of the need for further action as seven members still see no further rate cuts this year, a jump from four back in March, and highlighting a growing divide between those concerned about stubbornly high inflation and those fearful of mounting weakness in the labor market," Stifel said in a report.

"Thus, market participants will be combing the minutes today for details surrounding the varying opinions and a potential bar set for any further rate reductions or alternatively, a reversal in the policy course," according to the Stifel report.

US Treasury yields were mixed intraday, with the 10-year rate little changed at 4.13% and the two-year rate rising 1.4 basis points to 3.59%.

Spot gold was up 1.7% at $4,051.76 per troy ounce in recent Wednesday trade, crossing $4,000 for the first time and joining gold futures that achieved the same milestone on Tuesday.

"Gold has staged a historic rally, doubling in less than two years, spurred by central bank buying as it diversifies away from the US dollar, President Donald Trump's aggressive trade policy, and conflicts in the Middle East and Ukraine," ING Bank said in a Wednesday report.

Silver jumped 3.2% to $49.02 per ounce.

A US federal government shutdown entered its eighth day. The Senate once again couldn't pass Republicans' stopgap funding bill on Wednesday, CNN reported.

West Texas Intermediate crude oil was up 1.6% at $62.72 a barrel intraday.

"Oil prices jumped after (the Organization of the Petroleum Exporting Countries and its allies recently) announced a smaller-than-expected output hike, though oversupply concerns capped gains," D.A. Davidson said in a client note.

In company news, AST SpaceMobile ( ASTS ) agreed to provide its direct-to-cellular service to telecommunications giant Verizon Communications' ( VZ ) customers from next year. AST shares jumped 12%, while Verizon fell 0.3%.

TopBuild ( BLD ) shares gained 7.6% after the company said it acquired mechanical, building and spray foam insulation products supplier Specialty Products and Insulation in a deal worth $1 billion in cash.

Live Nation Entertainment ( LYV ) shares were down 3.5%, among the steepest drops on the S&P 500, after the company said it is offering $1.3 billion of convertible senior notes due 2031.