The S&P 500 index pushed through the 7,700 level for the first time, establishing a new record high as technology stocks extended their rally.
The Dow Jones Industrial Average also hit an all-time high, signaling broad-based strength in US equities despite volatility in other asset classes.
8% in the session. This surge in tech valuations helped offset weakness in energy markets, where oil prices plunged below US$80 a barrel.
The semiconductor sector was the primary driver of the advance, with a key semi-conductor index jumping 6.8% in the session.
This surge in tech valuations helped offset weakness in energy markets, where oil prices plunged below US$80 a barrel.
The divergence highlights a rotation in market sentiment, with investors favoring growth-oriented technology names over commodity-linked equities.
In Australia, the S&P/ASX 200 is expected to open higher, tracking the rebound in global risk sentiment.