Wall Street Hits Record Highs Amid AI Surge and Geopolitical Tensions

Wall Street edged up to record highs boosted by AI-linked stocks, especially chipmakers, despite a momentary pre-market dip. Investors await crucial labor market data that could influence the Federal Reserve's interest rate decisions. Geopolitical tensions, including Venezuelan oil and U.S. interests in Greenland, remain focal points for traders.

Wall Street displayed a remarkable uptick as the S&P 500 and the Dow reached unprecedented highs, buoyed by investor enthusiasm for artificial intelligence-linked stocks. Despite a slight pre-market dip, chipmakers, healthcare, and strategy stocks soared, propelling the S&P 500 to an all-time closing record.

Investors are keenly observing upcoming labor market data releases, crucial for Federal Reserve interest rate deliberations. Following recent fluctuations, private payroll figures are eagerly awaited this morning alongside significant job survey data expected later today. These elements follow extensive political drama, including developments in Venezuelan oil and U.S. prospects for Greenland use.

Mentioned prominently was President Trump's comment on refining and selling Venezuelan crude reserves, alongside emerging narratives on Greenland acquisition. Meanwhile, stocks such as Strategy surged due to MSCI's decision not to exclude certain crypto firms, and Mobileye Global showed a notable gain after revealing a major acquisition.

(With inputs from agencies.)