Wall Street surged to new record highs, fueled by a wave of optimism sweeping across the markets. Tech giants led the charge, with Microsoft gaining 1.8%, Apple up by 3.7%, Meta Platforms climbing 3.9%, and Tesla soaring an impressive 7.4%.
Semiconductor stocks also outperformed, highlighted by the Philadelphia Semiconductor Index, which rose 4.3%. Industry leaders posted solid gains, including Nvidia, up 4%, Advanced Micro Devices jumping 5.7%, and Broadcom increasing by 3.9%. These advancements reflect strong demand for technology components and ongoing growth in the semiconductor industry.
Additionally, the Russell 2000 Index, which tracks small-cap stocks that are sensitive to economic shifts, saw a notable increase of 2.1%. This signals a broader optimism in the market, not just in large-cap companies but also in smaller businesses that thrive in favorable economic conditions.
Overall, this rally reflects the confidence investors have in key sectors, especially technology, as they anticipate continued growth. With momentum building across the board, Wall Street’s record-setting pace suggests optimism for the future despite potential market uncertainties.
(Original reporting by Johann M Cherian, Purvi Agarwal, and Noel Randewich; translation)