Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
Moderna jumped almost 11% after BofA Global Research raised its price target, lifting the S&P 500 healthcare index by 1.96%. Memory and storage technology stocks also surged following Nvidia CEO Jensen Huang’s presentation at the Consumer Electronics Show in Las Vegas on upcoming AI processors. SanDisk rose 27%, Western Digital 17%, Seagate 14%, and Micron 10%, all hitting record highs. The PHLX chip index gained 2.75%, bringing its early 2026 gains to roughly 8%.
Investors are awaiting fresh U.S. economic data as the effects of a 43-day federal government shutdown fade.
Key reports this week include ADP job figures and job openings on Wednesday (7 January), followed by December’s official employment report on Friday. Weaker-than-expected data could bolster arguments for central bank rate cuts.
The S&P 500 ended up 0.62% at 6,944.82 points, the Nasdaq gained 0.65% to 23,547.17, and the Dow rose 0.99% to 49,462.08. Trading volumes were relatively heavy, with 18.7 billion shares changing hands compared with a 20-session average of 16.1 billion.
Energy shares slipped after strong prior gains, with Exxon Mobil down 3.4% and Chevron 4.5%. Concerns over cooling demand for data centres following Nvidia’s AI chip comments saw Johnson Controls fall 6.2% and Trane Technologies 2.5%. AIG shares tumbled 7.5% after CEO Peter Zaffino announced his resignation.
Within the S&P 500, advancing issues outnumbered decliners by a ratio of more than three to one, with 62 new highs and 8 new lows. The Nasdaq recorded 126 new highs and 42 new lows.
The visit also took on symbolic importance as the two leaders travelled to the liberated cities of Shusha and Fuzuli, areas Azerbaijan regained after ...
Iran's ambassador to the United Nations in Geneva said talks between the United States and Iran had made "good progress", with both sides set to estab...
South Korea has announced it will accept North Korean prisoners of war captured by Ukrainian forces while fighting for Russia if they wish to relocate...
A Ukrainian strike has damaged a school building in a Russian-controlled area of Ukraine’s Zaporizhzhia region, according to local authorities cited...
Authorities in France are reporting that about 20 people have died over the weekend while swimming in unsupervised areas of rivers, lakes and coastal ...
The visit also took on symbolic importance as the two leaders travelled to the liberated cities of Shusha and Fuzuli, areas Azerbaijan regained after decades of occupation.
Iran's ambassador to the United Nations in Geneva said talks between the United States and Iran had made "good progress", with both sides set to establish working groups in the coming days to discuss sanctions relief and issues related to Iran's nuclear programme.
South Korea has announced it will accept North Korean prisoners of war captured by Ukrainian forces while fighting for Russia if they wish to relocate to the South, citing international law and opposition to forced repatriation.
A Ukrainian strike has damaged a school building in a Russian-controlled area of Ukraine’s Zaporizhzhia region, according to local authorities cited by the TASS news agency. No injuries were reported in the incident.
At least thirteen people have died and sixty-six have been injured following an explosion at Qatar's main liquefied natural gas (LNG) processing hub at Ras Laffan, authorities said on Sunday.
Cape Verde’s remarkable FIFA World Cup debut continued on Sunday (21 June) as the tournament newcomers held Uruguay to a 2-2 draw. Goalkeeper Vozinha was once again at the centre of the story, this time with his mother watching from the stands.
Tehran has agreed to let the International Atomic Energy Agency (IAEA) recommence inspections of its nuclear programme, U.S. Vice President JD Vance has said. The U.S. and Iran have settled on a 60-day roadmap aimed at reaching a final deal, according to mediators Qatar and Pakistan.
Armenia and Azerbaijan have agreed on a landmark internet deal that will allow traffic to pass through Azerbaijani networks.It's the latest deal to highlight the ongoing peace process between the two countries.
Three students have been killed and at least seven injured after two of their peers opened fire in a high school in the Philippines, police said. A spokesperson for the police said the two suspects, aged 14 and 15, had been arrested and a police pistol confiscated. Bullying is a possible motive.
China has opened its market to cashew nuts from all African countries with diplomatic relations with Beijing, removing a long-standing barrier that had restricted exports from much of the world's largest cashew-producing continent.
Media leaders from across Europe gathered in Vienna this week for the annual European Publishing Congress.
Amazon founder Jeff Bezos has said artificial intelligence will ultimately lead to labour shortages rather than widespread unemployment, pushing back against growing fears that AI will replace human workers.
French department store BHV and online fast-fashion retailer Shein have ended their partnership, seven months after the launch of a permanent Shein shop in Paris triggered controversy and widespread criticism.
China’s retail sales fell for the first time in more than three years in May, while urban investment contracted more than expected, signaling further weakness in the world’s second-largest economy.
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