[New York Stock Market] Dow Jones Industrial Average Tops 53,000 for the First Time Ever; Tesla Soars 6.7%
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- 2026-07-07 05:23:14
- Updated
- 2026-07-07 05:23:14
The three major indexes on the New York Stock Exchange (NYSE) all rose on the 6th (local time). The Dow Jones Industrial Average climbed above 53,000 for the first time ever. After reopening from the U.S. Independence Day holiday, the market advanced as semiconductor stocks rebounded.
Meanwhile, Tesla jumped 6.7% on news that it would expand its robotaxi service to the Miami area and announce favorable news on the 7th.
Dow hits 53,000 for the first time
The Dow closed at 53,056.74, up 156.67 points, or 0.30%, from the previous session.
The Standard & Poor's 500 Index (S&P 500) rose 54.19 points, or 0.72%, to 7,537.43, while the Nasdaq gained 288.49 points, or 1.12%, to finish at 26,121.16.
The Chicago Board Options Exchange (Cboe) Volatility Index (VIX), often called Wall Street's fear gauge, fell 0.17 points, or 1.08%, to 15.64.
Semiconductor strength
Semiconductor stocks led the gains.
Intel, which is expected to lead semiconductor earnings this earnings season, closed at $122.20, up $1.85, or 1.54%. Micron ended the session at $984.75, up $9.19, or 0.94%.
AMD surged $40.12, or 7.75%, to $557.94, while Broadcom finished at $376.52, up $16.07, or 4.46%.
The Philadelphia Semiconductor Index rose 273.92 points, or 2.17%, to 12,900.14, and the iShares Semiconductor ETF (SOXX) jumped $15.19, or 2.68%, to $581.51.
Tesla surges
Big tech stocks mostly moved higher.
NVIDIA, the market leader, rose $0.72, or 0.37%, to $195.55 after denying reports of delays in next-generation AI servers. Alphabet closed at $367.42, up $7.52, or 2.09%.
Apple gained $3.76, or 1.22%, to $312.39, while Meta Platforms jumped $17.88, or 3.07%, to $600.29.
Tesla soared 6.7%.
The rally was fueled by the company's announcement that it officially began its robotaxi service in Miami, Florida, on the 3rd. Expectations of more positive news on the 7th also excited investors.
Lars Moravy, Tesla's vice president of vehicle engineering, said on a podcast last week that there would be "good news at Giga Texas regarding production scale" on the 7th. Investors are expecting news about mass production of Tesla's robotaxi, Cybercab.
Dell jumps 4.4%
Dell Technologies, which Trump highlighted during the bell-ringing ceremony at The White House, surged 4.4%. The stock jumped more than 7% in early trading shortly after Trump's remarks, then closed at $411.80, up $17.48, or 4.43%.
Trump also invited Dell founder Michael Dell and his wife to the event after they pledged to donate $6 billion to the youth stock investment program known as the "Trump accounts."
dympna@fnnews.com Song Kyung-jae Reporter