[New York Stocks] Nasdaq Hits Record High as NVIDIA Rallies; SpaceX Surges 7.6%

[Financial News]  

The New York stock market extended its gains on the 5th (local time). Although Treasury yields rebounded, the three major indexes continued the upward trend that began on the 1st for a third straight session.
The tech-heavy Nasdaq Composite Index also set a new all-time record for the first time in about two weeks, since the 22nd of last month.
NVIDIA led the market’s advance by setting a new all-time high for its share price for the third consecutive session.
Meanwhile, Elon Musk’s Tesla and SpaceX also continued their strong upward momentum.

The Dow Jones Industrial Average (DJIA) gained 90.94 points, or 0.18%, from the previous session to close at 51,267.90.
The Standard & Poor's 500 Index (S&P 500), which broadly reflects market conditions, rose 51.23 points, or 0.66%, to 7,773.95. The Nasdaq climbed 286.45 points, or 1.05%, to 27,477.31, setting a new all-time high. The Nasdaq had previously set an intraday record on the 2nd.
The Nasdaq-100 Index, composed of 100 large technology stocks, gained 268.51 points, or 0.87%, to close at 31,076.44. TQQQ, a leveraged exchange-traded fund (ETF) that tracks three times the index’s daily moves, rose $2.33, or 2.88%, to finish at $83.34.

Blue-chip NVIDIA extended its record-setting streak, which began on the 1st, for a third consecutive session. It rose $4.95, or 2.12%, to $238.90.
AMD, which had also been setting all-time highs alongside NVIDIA, fell $0.93, or 0.15%, to close at $632.98.
Micron Technology declined $13.53, or 1.26%, to $1,061.36, while SanDisk fell $25.28, or 1.47%, to $1,694.71.
By contrast, SK hynix American depositary receipts (ADRs) rose $0.24, or 0.12%, to $195.37.
SOXL, a leveraged semiconductor ETF that tracks three times the daily movement of 30 major semiconductor stocks, gained $0.56, or 0.34%, to close at $164.27.

Musk’s Tesla and SpaceX both rose on the day.
Tesla climbed $8.14, or 2.20%, to $378.73, while SpaceX surged $12.13, or 7.63%, to $171.09. Recently, Musk’s net worth once again surpassed $1 trillion, helped by SpaceX’s rising share price.
Big tech stocks also generally performed well.
Alphabet rose $2.97, or 0.86%, to $346.47, while Palantir Technologies gained $0.65, or 0.34%, to close at $189.40.
Microsoft (MS) jumped $7.65, or 1.48%, to $525.18, while Meta Platforms rose $13.82, or 1.90%, to close at $741.90.
Apple, however, fell $0.80, or 0.24%, to finish at $332.89.

[email protected] Song Kyung-jae Reporter