Major United States indices reached new records on Tuesday (Wednesday AEDT) with technology stocks climbing as oil companies reversed yesterday’s gains.
The S&P 500 finished 0.6% higher at a record 6,944.82. The Dow Jones Industrial Average was up 1% to 49,462.08, also a new record, while the Nasdaq Composite increased 0.7% to 23,547.17.
The S&P 500’s technology index rose 0.7%, lifted by 3.4% growth in Amazon shares. Amazon Web Services said it would partner with automotive hardware company Aumovio to support self-driving vehicle technology.
Some semiconductor stocks also climbed, with Micron’s shares up 10% to an all-time high. Taiwan Semiconductor Manufacturing Co.’s U.S.-listed shares increased by 1.6%, and Intel’s shares lifted 1.7%.
Nvidia’s shares dropped 0.5% after CEO Jensen Huang said China’s government would likely not make a formal declaration if it permitted Chinese businesses to import Nvidia’s H200 chips. AMD shares lost 3%.
Shares in Chevron, the only U.S. oil major currently operating in Venezuela, fell by 4.5%.
ExxonMobil’s shares declined 3.4%, and ConocoPhillips shed 2.2%. All three oil majors had gained at least 2% in Monday (Tuesday AEDT) trading.
The U.S. government plans to meet with oil majors this week to discuss investments to boost Venezuela’s oil output in the wake of the U.S. strike on Saturday. Chevron, ExxonMobil, and ConocoPhillips have not yet had conversations with the administration about the attack, Reuters reported.
U.S. two-year bond yields were roughly flat at 3.463%, while 10-year yields were up 0.01% to 4.173%.
