Nasdaq

Dow Hits Record as Chip Rebound Lifts US Stocks on AI Optimism

US stocks climbed in the first session after the July 4 holiday, with the Dow Jones Industrial Average closing at a record 53,055.91 as a rebound in chip stocks revived optimism about the AI trade. The S&P 500 rose 0.72% to 7,537.43 and the tech-heavy Nasdaq Composite led with a 1.12% gain to 26,121.16, helped by stronger-than-expected sales from Nvidia supplier Foxconn and by megacap names Alphabet, Apple, Meta and Tesla. Investors now look to Samsung Electronics' results on Tuesday, where the chipmaker is expected to report a roughly 18-fold jump in profit.