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 United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claim...
Twelve people have been arrested in connection with an alleged extreme right-wing terrorism plot targeting a major Islamic gathering in Suffolk, promp...
Ukraine and a group of key Western allies have launched a new air defence coalition to develop a European anti-ballistic missile system that will comp...
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claims it has once again closed the Strait of Hormuz, a vital global shipping route.
Twelve people have been arrested in connection with an alleged extreme right-wing terrorism plot targeting a major Islamic gathering in Suffolk, prompting counter-terrorism police to declare a major incident and bring the event to an early close.
Ukraine and a group of key Western allies have launched a new air defence coalition to develop a European anti-ballistic missile system that will complement existing defences and reduce reliance on the costly U.S.-made Patriot system.
Two endangered loggerhead sea turtles have been released into the Mediterranean from Türkiye's Antalya province as part of a conservation project to track their migration and strengthen protection efforts.
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
The U.S. has launched fresh strikes on Iran after Tehran targeted a container ship and said it had again closed the Strait of Hormuz. Iran also claimed to have expanded attacks on U.S. military facilities across the Gulf.
Typhoon Bavi, the strongest storm to hit the eastern coast of mainland China this year, brought heavy rain, strong winds, flooding and landslides after making landfall in Zhejiang province on Sunday. More than 2.8 million people were evacuated to safety ahead of the storm.
President Ilham Aliyev is holding his annual question-and-answer session with international journalists at the 4th Shusha Global Media Forum in Azerbaijan.
Qatar is mourning the death of its former ruler, Sheikh Hamad bin Khalifa Al Thani, who has passed away at the age of 74.
China has approved fast-fashion retailer Shein's long-awaited initial public offering (IPO) in Hong Kong, clearing the way for the company to pursue a stock market listing after previous attempts in the U.S. and London failed.
European carmakers have urged the European Union to make sure new “Made in EU” rules do not put existing investments in Türkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
U.S. President Donald Trump earned more than $1bn from cryptocurrency-related business ventures last year, according to his mandatory 2025 financial disclosure.
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