U.S. Stocks Close Tuesday in Green
The Dow Jones Industrial Average climbed 0.99 percent, reaching 49,462.08 and securing back-to-back all-time closing highs for the benchmark index. Meanwhile, the S&P 500 gained 0.62 percent to close at an unprecedented 6,944.82, while the Nasdaq Composite Index posted a 0.65 percent uptick to finish at 23,547.17.
Sector performance showed broad-based strength across the S&P 500, with nine of eleven primary categories posting gains. Materials and health care dominated the winners, surging 2.04 percent and 1.96 percent respectively. On the downside, energy tumbled 2.81 percent and communication services dipped 0.49 percent, leading decliners.
The annual Consumer Electronics Show in Las Vegas took center stage as competing visions for AI infrastructure emerged. Nvidia CEO Jensen Huang introduced the firm's forthcoming Rubin AI computing platform, while AMD CEO Lisa Su subsequently showcased the company's rival Helios rack-scale system.
Despite the high-profile announcements, Nvidia shares retreated 0.47 percent and AMD stock dropped 3.04 percent. Technology sector standouts included Amazon, Micron Technology, and Broadcom.
"Tech kind of took a pause at the back end of the year, but I don't think anyone questions that AI is a game changing technology," said Ross Mayfield, investment strategist at Baird. "We're seeing the chip stocks lead. That's probably to be expected, but that cyclical rotation is still continuing."
Attention now pivots to a data-heavy week featuring critical economic metrics, especially employment figures. Investors await job openings data, private payroll numbers, and the pivotal December non-farm payrolls release scheduled for later this week.
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