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Informist, Tuesday, Jun. 2, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Major US indices touch fresh highs, tech stocks lend support

 

MUMBAI--0750 IST--Indices on Wall Street ended with gains as technology stocks continued to drive gains. The Dow Jones Industrial Average, S&P 500, and the NASDAQ Composite rose to fresh highs Monday. Market participants held on to some positivity after US President Donald Trump said talks with Tehran are in progress. "Talks are continuing, at a rapid pace, with the Islamic Republic of Iran," Trump said in a post on Truth Social. 

 

"The market seems to think that something's going to get done at some point, but we don't have very good information to go on, like what the Iranians really want and what Trump is willing to settle for," Thomas Martin, senior portfolio manager at GLOBALT, told Reuters. 

 

Shares of Nvidia Corp. closed 6% higher after the company announced that it will expand into making chips for personal computers. This is a domain where Intel Corp., Advanced Micro Devices, and Qualcomm have traditionally held dominance. Intel slid nearly 5% Monday, Advanced Micro Devices over 1%, and Qualcomm as much as 9%. In other news, Anthropic, the maker of artificial intelligence model Claude, filed to list on the US bourses.  

 

"Filing shortly after SpaceX allows Anthropic to capitalize on strong investor interest in AI and growth stocks while the window remains favorable," Kat Liu, vice president at IPO research firm IPOX, told Reuters.

 

Among the other stocks in focus was Hewlett-Packard Enterprise. The technology major soared by over 30?ter it posted robust earnings for the quarter ended April. The company's revenue rose 40% on year to $10.7 billion. It reported earnings per share of $0.79, significantly higher than its forecast of $0.51-$0.55. This was Hewlett-Packard's biggest-ever beat on its earnings per share since February 2018, CNBC reported. The company projected its earnings per share for the full year at $3.35-$3.45, up from $2.30-$2.50 earlier.

 

The following were the closing levels of major US indices on Monday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	51078.88	0.09
NASDAQ Composite	27086.81	0.42
S&P 500	7599.96	0.26

 

(Ruchira Kagita)

 

US$1 = INR 94.99

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Saji George Titus

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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