 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 Soutel, New York. Federal Reserve Chair Jerome Powell reinforced the message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it's likely to begin cutting interest rates soon.