Wall Street Hits Record Highs Led by Tech Giants and Easing Middle East Tensions

Major U.S. stock indices all closed higher.

The Dow Jones Industrial Average closed at a record high, the Nasdaq surged over 2%, and the S&P 500 surpassed the 7,600 mark.

By sector, communication services jumped 3%, while industrials and consumer discretionary gained 2% each.

Large-cap technology stocks were at the center of today's rally.

Amazon rose more than 4% to surpass a market capitalization of 3 trillion dollars for the first time in history, and Meta surged in the 6% range.

Alphabet and Microsoft also recorded gains of around 5% each, boosting expectations that AI investment performance is translating into tangible profits.

Another key background driving the stock market was the easing of tensions in the Middle East.

As U.S. President Trump abruptly called off plans for military strikes against Iran and shifted toward diplomatic dialogue, concerns over the blockade of the Strait of Hormuz were resolved.

Consequently, international oil prices plummeted by more than 5%. Relief that inflationary pressures would ease as energy cost burdens diminished significantly improved investor sentiment.

In addition, the fact that U.S. manufacturing indicators for July improved at the fastest pace in about four years also lent momentum to the stock market rally.

Meanwhile, after the regular trading session closed, Palantir surpassed market expectations with its earnings and raised its guidance, sending its shares soaring by over 11% in after-hours trading.

As the stock market continues its march toward record highs, major employment data and corporate earnings reports are expected to determine the market direction this week.
※ Please note: This article was translated by AI and may contain errors.