[New York Stock Market] All Major Indices Close Higher... Dow Surpasses 53,000 for the First Time

Nasdaq Rises Over 1% on Semiconductor Strength

International Oil Prices End Slightly Lower

On the 6th (local time), all three major U.S. stock indices closed higher, driven by the strength of semiconductor stocks. The Dow Jones index surpassed the 53,000 mark for the first time in history, while the Nasdaq maintained a gain of over 1% throughout the session and ended with solid growth.

At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 53,055.91, up 155.84 points (0.29%) from the previous trading day. The S&P 500, which focuses on large-cap stocks, rose by 54.19 points (0.72%) to finish at 7,537.43, while the tech-heavy Nasdaq jumped 288.48 points (1.12%) to close at 26,121.16.

New York Stock Exchange. New York, USA – Special Correspondent Yoonju Hwang

Technology stocks broadly advanced, pulling the indices higher. Intel rose 1.54%, Qualcomm gained 5.80%, AMD climbed 6.61%, Micron was up 0.96%, Nvidia gained 0.37%, Alphabet rose 1.82%, and Meta ended up 2.98%.

Mark Haefele, Chief Investment Officer at UBS, said, "This week, investors will be looking for signs that recent volatility in tech stocks is stabilizing," adding, "The market will assess how the recent pressure on hyperscaler stocks might change perceptions about spending on artificial intelligence (AI) investments."

Since there are concerns that hyperscaler companies have recently been investing excessively in AI technology, investor attention is expected to focus on the outlook for their capital expenditures.

However, Microsoft (MS) closed down 0.96%. The stock dropped more than 1% during the session after the company announced it would lay off 4,800 employees, which is equivalent to 2.1% of its total workforce.

The U.S. Institute for Supply Management (ISM) announced that the Services Purchasing Managers' Index (PMI) for June came in at 54.0%. This is 0.5 percentage points lower than the previous month’s 54.5%. While overall price pressures eased somewhat, supply chain bottlenecks for related materials continued due to increasing demand for data center construction.

Short-term Treasury yields edged up slightly, supported by analysis that the likelihood of a Federal Reserve rate hike has lessened after last week’s weaker-than-expected employment report.

International oil prices declined slightly. On the New York Mercantile Exchange, August delivery West Texas Intermediate (WTI) crude fell 0.20% from the previous session to $68.55 per barrel. On the ICE Futures Exchange, September delivery Brent crude declined 0.18% to $71.99 per barrel.

Anthony Saglimbene, Chief Market Strategist at Ameriprise Financial, commented, "Expectations are very high, so I can't be confident that these stocks will rise as much in the second half of the year as they did in the first half," predicting that there will be ups and downs between leading AI industry stocks and the broader market in the coming months.

He added, "Ultimately, fundamentals such as earnings growth, interest rate levels, and economic growth rates will matter, and for now, all of these factors are showing a fairly positive picture."

This content was produced with the assistance of AI translation services.