US equity markets closed higher on Tuesday, driven by a broad-based rally in technology and semiconductor stocks.
The advance followed the release of US inflation data that came in cooler than economists had forecast, reinforcing the case for continued monetary accommodation. Investors appeared to prioritize corporate earnings strength over lingering geopolitical uncertainties, with major chipmakers leading the charge.
3% to finish at 26,206 points, underscoring the sustained momentum in the tech-heavy index.
The rally was driven by broad-based strength in the semiconductor sector, where names such as Micron Technology and AMD saw significant buying interest.
This follows a similar surge on Thursday, when the Nasdaq Composite jumped 1.3% to finish at 26,206 points, underscoring the sustained momentum in the tech-heavy index. The sector's outperformance highlights a shift in market sentiment, where growth prospects in AI and computing are outweighing macroeconomic headwinds.
Geopolitical tensions, which had previously weighed on risk assets, were relegated to the background as corporate results came in better than expected.
This resilience suggests that investors are increasingly focused on company-specific fundamentals rather than broader systemic risks.