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.
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The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
The European Parliament has delayed until next week a decision on whether to resume work on the EU–U.S. trade deal.
U.S. President Donald Trump has warned that Washington would withdraw its support for Iraq if former prime minister Nouri al-Maliki is returned to power, citing concerns over governance, stability and regional influence.
Recep Tayyip Erdoğan, Bola Ahmed Tinubu to hold bilateral talks, attend signing ceremony, joint press conference.
Minnesota Governor Tim Walz has activated the state’s National Guard following the fatal shooting of a U.S. citizen in Minneapolis, an incident that has triggered protests and intensified tensions between state and federal authorities.
Iran’s Foreign Ministry has strongly rejected a U.S. magazine report on the death toll during January unrest. Nationwide protests erupted in response to soaring inflation and a national currency crisis.
The death toll from nationwide protests in Iran has climbed to 6,126, according to the U.S.-based Human Rights Activists News Agency (HRANA).
Serbian President Aleksandar Vučić, often viewed as a bellwether for the complex diplomatic currents between the Kremlin and the West, has issued a startling prediction regarding the endgame of the war in Ukraine.
The strategic axis between Israel and Azerbaijan has been significantly reinforced this week as President Ilham Aliyev received Israeli Foreign Minister Gideon Sa'ar in Baku.
The S&P 500 edged to a record closing high on Tuesday, marking its fifth consecutive day of gains, as strong advances in technology stocks offset a sharp selloff in healthcare shares and a mixed batch of corporate earnings.
Chevron is in talks with Iraq’s oil ministry over potential changes to the commercial framework governing the West Qurna 2 oilfield, one of the world’s largest producing assets, after Baghdad nationalised the field earlier this month following U.S. sanctions imposed on Russia’s Lukoil.
Argentina's economic activity shrunk 0.3% in November compared with the same month last year, marking the first monthly contraction of 2025, data from Argentina's national statistics agency showed on Wednesday.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
Global markets are rattled after U.S. President Donald Trump threatened new tariffs on eight European countries over Greenland, sending the euro to a seven-week low and raising concerns about renewed transatlantic trade tensions.
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