Equity Alert
US indices end higher Tue; S&P 500, Dow Jones hit record highs
This story was originally published at 07:59 IST on 7 January 2026
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Equity Alert: US indices end higher Tue; S&P 500, Dow Jones hit record highs
MUMBAI--0735 IST--Stock indices in the US ended higher on Tuesday. The S&P 500 and the Dow Jones Industrial Average hit record highs of 6948.69 points and 49509.92 points, respectively, as investors seemed to have shrugged off anxieties from the US attack on Venezuela.
The market's reaction to the news about Venezuela highlights the gap seen between headline risk and actual price action, said Angelo Kourkafas, senior global investment strategist at Edward Jones, according to a report by CNBC. Despite Nicolas Maduro's arrest being a significant geopolitical event, it has no immediate implication for oil supply, the factor markets truly care about, Kourkafas said, according to CNBC. The pro-cyclical rally seen since the start of the week reflects strong fundamentals, including an expected expansion of earnings momentum both within and beyond mega-cap technology, the analyst added.
Shares of Amazon and Palantir ended over 3% higher each, CNBC said. Shares of Moderna surged nearly 11% after Bofa Global Research raised the stock's target price, which helped the S&P 500 Health Care Sector index rise nearly 2%, Reuters reported. Memory and storage sector stocks gained during the session after NVIDIA's Chief Executive Officer Jensen Huang gave details, which included a new layer of storage technology, at a Consumer Electronics Show in Las Vegas. Shares of San Disk rose over 27%, those of Western Digital rose 17%, and those of Seagate Technology rose 14%. Shares of Micron Technology gained 10%, as all four stocks hit record highs, Reuters reported. However, Huang's comments on the efficiency of the new chips raised concerns over demand for data cooling systems, with shares of Johnson Controls and Trane Technologies falling 6.2% and 2.5% respectively. AIG said Chief Executive Officer Peter Zaffino would step down from his position, prompting shares of the company to fall 7.5%, according to Reuters.
Investors await economic data as the effects of the record 43-day federal government shutdown subside, with the job openings data and the labour turnover survey data on Wednesday along with the December jobs report on Friday, Reuters said. Markets also analysed comments by Richmond Federal Reserve President Tom Barkin who re-emphasised the US central bank's careful take on further rate cuts, in contrast to comments by Governor Stephen Miran, which advocated stronger rate cuts, Reuters reported.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6944.82 |
0.62 |
|
NASDAQ Composite |
23547.173 |
0.65 |
|
Dow Jones Industrial Average |
49462.08 |
0.99 |
(Akshat Saksena)
US$1 = INR 90.17
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
All prices from National Stock Exchange, unless otherwise specified.
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