Wall Street Peaks with AI Boom and Historic Dow Surge

Wall Street saw record highs on Tuesday driven by a rally in AI-charged chip stocks and a price boost for Moderna. The Dow Jones Industrial Average achieved a historic peak, setting the stage for a promising earnings season. Investors are closely awaiting upcoming economic data releases.

Wall Street surged to new heights on Tuesday, fueled by a resurgence in AI-related chip stocks and a notable jump in Moderna shares. The Dow Jones Industrial Average reached unprecedented levels, underscoring the market's positive sentiment amid technological advancements and economic optimism.

Leading the charge in the tech sector, memory and storage technology companies like SanDisk, Western Digital, Seagate Technology, and Micron Technology all recorded record highs. This momentum was spurred by details unveiled by Nvidia CEO Jensen Huang at the Consumer Electronics Show, highlighting innovative AI processors.

As Wall Street braces for an eventful fourth-quarter earnings season, investors are eagerly monitoring economic indicators such as the upcoming JOLTS report and the December jobs data for insights into future central bank policy and potential interest rate cuts.

(With inputs from agencies.)