[New York Stock Exchange] Rally to Record Highs on Ceasefire Hopes... Palantir Soars 8.2%

[Financial News]  \r\n
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The three major New York stock indexes set fresh all-time highs again on the 28th (local time). They extended their record-setting run for a second consecutive day after doing so on the 27th.
Snowflake, which released surprise earnings after the previous day's close, surged more than 36% and lifted technology stocks.
NVIDIA rebounded for the first time in five trading days, while Palantir Technologies jumped 8.2%.
Meanwhile, Micron, which had been setting record highs day after day, took a breather.
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The Dow Jones Industrial Average (DJIA) rose to a record high for a second straight session, while the technology-heavy S&P 500 Index and Nasdaq index both set new records for a third consecutive day.
The DJIA closed at 50,668.97, up 24.69 points, or 0.05%, from the previous session.
The S&P 500 Index rose 43.27 points, or 0.58%, to 7,563.63, while the Nasdaq climbed 242.74 points, or 0.91%, to 26,917.47.
The Cboe Volatility Index (VIX), known as Wall Street's fear gauge, fell another 0.63 point, or 3.87%, to 15.69.
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All of the Magnificent Seven (M7) megacap tech stocks advanced.
NVIDIA, the market leader, ended a four-session losing streak that began on the 21st and closed at $214.25, up $1.65, or 0.78%.
Alphabet Inc. rose $1.30, or 0.33%, to $390.13, while Microsoft jumped $14.32, or 3.47%, to $426.99.
Apple Inc. gained $1.66, or 0.53%, to $312.51, and Tesla closed at $442.10, up $1.74, or 0.40%.
Amazon.com, Inc. rose 0.79%, and Meta added 0.01%.
Palantir Technologies surged $10.83, or 8.17%, to $143.34.
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The previous day's surprise earnings from cloud-based data solutions company Snowflake helped drive gains in artificial intelligence (AI) megacap stocks on the day.
For the first quarter of fiscal 2027, which ended in April, Snowflake reported revenue of $1.39 billion and adjusted earnings per share of $0.39. That beat market expectations for revenue of $1.32 billion and EPS of $0.32.
Investors paid particular attention to the fact that Snowflake's generative AI coding agent, Cortex Code, launched in February, was materially boosting revenue.
Snowflake's results reassured investors by easing concerns that AI would disrupt the software as a service (SaaS) industry.
As a result, Snowflake soared $63.94, or 36.48%, to $239.20.
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Semiconductor stocks also posted strong gains.
Advanced Micro Devices, Inc. (AMD) rose $22.55, or 4.55%, to $518.09, while Broadcom Inc. climbed $4.72, or 1.21%, to $426.58.
UK chip-design intellectual property company Arm Holdings surged $32.56, or 10.76%, to $335.27, and SanDisk Corporation gained $51.70, or 3.25%, to $1,641.64.
By contrast, Micron fell $4.89, or 0.53%, to $923.52, and Intel dropped $0.88, or 0.72%, to $120.89.
The iShares Semiconductor ETF (SOXX) finished the session at $569.47, up $5.49, or 0.97%.
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dympna@fnnews.com Song Kyung-jae Reporter