US Stocks Reach New Heights in a Tech-Driven Bull Run – US Market Wrap

US equities finished at a fresh high on Tuesday, continuing a run fueled by investor excitement about artificial intelligence and prospects of looser monetary policy from the Federal Reserve.
The S&P 500 Index finished up 0.6%, surpassing its closing high set in late December. The tech-heavy Nasdaq 100 Index rose 0.9%, while the Russell 2000, which focuses on small-cap stocks, rose 1.4%.
Stock investors have mostly ignored problems in Venezuela, extending a three-year bull market powered by demand for AI-linked stocks. A weaker-than-expected US Services PMI number released on Tuesday boosted rate cut hopes, with business activity and job market data due later this week.
The AI theme remained in focus following a rush of late-breaking revelations from chipmakers at the CES trade show in Las Vegas on Monday. Amazon, Micron Technology, and Microsoft were among the technology stocks that gained ground on Tuesday.
Nvidia Chief Financial Officer Colette Kress stated that the chipmaker’s bullish revenue projection from October has only become more optimistic as a result of robust demand.
Gold surged 1% as the precious metals boom continued, while silver rose 6%. Brent crude reversed early gains and was down around 2%. US Treasury yields rose, and the dollar strengthened.