[New York Stock Market] Broad Gains on Big Tech Strength, Dow Hits All-Time High

[Financial News]  

The three major indexes on the NYSE all rose on the 3rd local time.
Buying continued as big tech stocks strengthened and international oil prices plunged by around 5%.
In particular, Amazon, Alphabet Inc., Microsoft (MS), NVIDIA, and Boeing all showed strength, while the Dow Jones Industrial Average set a new record high for the first time in a month.

The three major indexes all advanced, led by technology stocks.
The DJIA rose 693.38 points, or 1.32%, from the previous session to 53,178.41. It surpassed the previous closing record of 53,055.91 set on the 6th of last month and set a new all-time high.
The Standard & Poor's 500 Index (S&P 500), which broadly reflects market conditions, closed at 7,600.50, up 110.78 points, or 1.48%. It came close to its all-time high of 7,609.90 set on June 2.
The tech-heavy Nasdaq remained well below its June 2 peak of 27,093.90, but it posted the biggest gain among the three major indexes. The Nasdaq surged 540.04 points, or 2.13%, to 25,913.90.

All Big Tech stocks rose except Apple.
Investor buying has been supported by relief that artificial intelligence (AI) investments are translating into profits in second-quarter earnings reports.
Amazon jumped $12.44, or 4.58%, to close at $284.02, while Alphabet Inc. rose $47.38, or 4.88%, to $373.51.
Microsoft (MS) surged $22.93, or 4.93%, to $487.65, and NVIDIA closed at $206.64, up $5.89, or 2.93%. Both MS and NVIDIA extended their gains for a third straight trading day.
Tesla rose $10.87, or 3.49%, to $322.08, while SpaceX posted a rare sharp gain, surging $6.16, or 5.68%, to close at $114.53.

By contrast, Apple slipped $5.49, or 1.78%, to $303.42. It has fallen for four consecutive trading days since the 29th of last month.
Apple dropped to third place in market capitalization, behind NVIDIA and Alphabet Inc.
At the close, NVIDIA ranked first with a market value of $5 trillion, while Alphabet Inc. ranked second at $4.5 trillion.
Apple, which reclaimed the top spot in market cap for the first time in more than a year last month, fell to third with $4.42 trillion.

AI infrastructure stocks were especially strong on the day.
AI cloud company CoreWeave soared $13.99, or 19.49%, to $85.76.
Dutch AI infrastructure company Nebius jumped $22.17, or 11.64%, to $212.58, while data center cooling equipment maker Vertiv surged $21.48, or 8.89%, to $263.05.

[email protected] Song Kyung-jae Reporter