US equity markets closed higher as the S&P 500 advanced sharply in October, supported by sustained buying in large cap tech, easing inflation expectation signals and strong earnings momentum from multiple enterprise technology and semiconductor names. Nasdaq posted even stronger performance, recording a gain of nearly 4.7% for the month, highlighting the continued leadership from AI, cloud and hyperscaler linked companies across the US technology sector. Broader indexes benefitted from rotation back toward high beta names as investors positioned for resilient demand despite macro policy uncertainties.