US STOCKS SNAPSHOT-Nasdaq Hits Intraday Record High as Tech Stocks Regain Footing
- On Tuesday, the Nasdaq Composite reached an intraday record for the first time since early June as technology stocks surged and oil's retreat lifted investor appetite for risk.
- Falling oil prices to a two-week low eased global supply concerns after Iran signaled it could reopen the Strait of Hormuz soon, boosting market sentiment worldwide.
- Meta edged up 0.5% as investors bet on its new AI agent Muse, while Chipmaker AMD topped $1 trillion in market valuation on Monday, with advancing issues outnumbering decliners 1.78-to-1 on the Nasdaq.
- US-Iran talks are scheduled at the United Nations General Assembly with a US-China summit to follow on Thursday, while traders price a 53.1% probability the Federal Reserve raises rates by 25 basis points in October.
- Global market strategist Lale Akoner said "markets are really seeing oil as the key macro variable here," while Boston Fed President Susan Collins backs rate hikes to manage inflation risks above the 2% target.
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Nasdaq Closes at Record as AI Chip Rally Offsets Consumer-Tech Weakness
The Nasdaq finished Tuesday at a record high as Micron Technology, SanDisk and other artificial intelligence-related stocks advanced, while the S&P 500 remained just short of its peak amid oil near $100 a barrel, elevated Treasury yields and expectations surrounding interest rates and U.S.-China talks.
Nasdaq reaches record high close, AI stocks rally | Honolulu Star-Advertiser
The Nasdaq notched a record high close today, lifted by Micron Technology and other AI-related stocks, while the S&P 500 hovered just below a record high as oil prices traded around $100 per barrel.
Wall Street presented mixed performance on Tuesday, with slight falls on Dow Jones and modest gains both in S&P 500 and Nasdaq, an inversion in relation to the strong gains of Monday, which boosted Nasdaq to new historical maxims thanks to the impulse of artificial intelligence (AI).
(Los Angeles=Yonhap News) Correspondent Kim Kyung-yoon = Amid the craze for Meta's artificial intelligence (AI) assistant, tech stocks are seeing mixed fortunes, and on the 22nd (local time), the U.S....
After yesterday's rally, the mood on international stock markets is more cautious today. The AI story has come to the fore again, while the recent drop in oil prices has eased inflation fears, with Brent already trading below $100. Meanwhile, investors are monitoring diplomatic developments in the Middle East and the upcoming meeting between Donald Trump and Xi Jinping, while expectations of further interest rate hikes by the Fed continue to dam…
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