Traders work on the floor of the New York Stock Exchange (NYSE) on August 7, 2026 in New York City, USA.
Gina Moon | Reuters
of S&P500 It hit an intraday high on Tuesday, helped by gains in major technology stocks and a drop in U.S. Treasury yields.
The broader market index rose 0.58% to a record close of 7,818.93. Dow Jones Industrial Average It rose 253.38 points (0.49%) to end at 51,521.28. of Nasdaq Composite It added 0.45% to close at a high of 27,599.79. The tech stock ratio also hit a record high during trading.
The rise was fueled by gains in semiconductor manufacturers. marvel technology 5.8% increase; advanced micro device Shares rose nearly 3% as investors grew more optimistic about the company’s prospects. In addition, the following broadcom It increased by 3.7%.
“We all agree that the market is going up, and AI is the place to be,” said Stephen Colano, chief investment officer at Integrated Financial Partners. Investors are “looking at the inflation concerns right now, especially related to things like oil and diesel. They’re like, ‘Okay, that’s a problem that could be solved down the road.'”
Oil prices ended the day little changed. brent crude oil The price rose 0.26% to settle at $100.58 per barrel. West Texas Intermediate Futures It rose just 0.01% to $89.44 per barrel.
Collano also said interest rates are “basically where they should be.” benchmark 10 year treasury Bond yields fell 3 basis points to 5.281%. 30 year bond The yield was last little changed at 5.655%. Both rose to levels not seen since 2002 on Monday.
“People are looking for where the infection starts to spread, but at the moment everything is well contained and is just being ruled by momentum, revenue growth and investment from artificial intelligence,” he added.
Traders are now focused on Wednesday’s minutes of the Federal Reserve’s September meeting, which could shed some light on policy makers’ moves to raise interest rates.
