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Listen to this article in summarized format The index was last up 0.3% at 27,212.68, surpassing its previous intraday high of 27,190.21, set on June 1. Oil prices fell to a two-week low as the prospect of increased supplies from the Gulf eased market concerns. Iran’s indication that it could soon reopen the Strait of Hormuz also lifted sentiment across global markets. Technology stocks, which have powered US equities to record highs this year, returned to the spotlight as demand for artificial intelligence remained strong and corporate earnings proved resilient. AMD’s market value topped $1 trillion on Monday as chip stocks rallied, pushing the Philadelphia SE Semiconductor Index to its highest level in more than a month. The semiconductor benchmark had confirmed a bear market on July 17 after closing more than 20% below its record high. Earlier this month, rising oil prices and concerns about mounting government debt drove US Treasury yields to multiyear highs, weighing on high-flying stocks such as memory-chip makers following their outsized gains this year. The Nasdaq milestone marks a sharp recovery for the technology-heavy index, which briefly fell more than 10% from its intraday high in late July. The pullback was driven by concerns that heavy AI spending could hurt profitability because returns were taking longer than investors expected to materialise. The S&P 500 and the blue-chip Dow reached record highs in early August, leaving the Nasdaq as the last major US index to return to record territory. At 9:32 a.m. ET, the Dow Jones Industrial Average was up 155.42 points, or 0.30%, at 52,204.25. The S&P 500 gained 14.39 points, or 0.19%, to 7,779.09, while the Nasdaq Composite added 89.57 points, or 0.33%, to 27,211.66. Advancing stocks outnumbered decliners by 1.88 to 1 on the NYSE and by 1.78 to 1 on the Nasdaq. The S&P 500 recorded no new 52-week highs and five new lows, while the Nasdaq Composite posted 12 new highs and 26 new lows. (Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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