Stock futures edge higher after Nasdaq hits new record: Live updates - cnbc.com
The S&P 500 and Nasdaq reached record highs on Tuesday, driven by strong performance in the technology and semiconductor sectors. Investors remain optimistic about AI-related growth despite ongoing concerns regarding inflation and interest rates.
Why it matters
Record-breaking market performance signals investor confidence in the tech sector's ability to drive economic growth despite macroeconomic headwinds.
The S&P 500 rose to a fresh all-time intraday high on Tuesday, boosted by gains in key technology names as well as declines in Treasury yields.
The broad market index climbed 0.58% for a record close of 7,818.93, while the Dow Jones Industrial Average gained 253.38 points, or 0.49%, to end at 51,521.28. The Nasdaq Composite added 0.45% and closed at a record 27,599.79. The tech-heavy index hit a new all-time high during the session as well.
The moves higher were bolstered by a rise in chipmakers. Marvell Technology popped 5.8%, and Advanced Micro Devices gained nearly 3%, as investors grew optimistic about the companies' outlooks . Others such as Broadcom advanced 3.7%.
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