09.02.202621:01:54UTC+00Dow Jones Set Fresh Record High

The Dow inched up 0.1% to a fresh record high, while the S&P 500 gained 0.5% and the Nasdaq rose 0.8%, supported by renewed buying in large-cap technology and AI-related stocks that offset lingering caution ahead of key US macroeconomic releases later this week. Hardware-oriented AI names led the advance, with chipmakers and infrastructure providers driving the move: Nvidia climbed 2.5%, Broadcom added 3.4%, and Oracle surged 9.6% after an analyst upgrade tied to AI-driven demand, bolstering confidence in a sustained cycle of capital expenditure on data and cloud services.

The rebound followed last week’s sharp, tech-led pullback, during which investors reassessed stretched valuations as forward earnings multiples compressed significantly. By contrast, software stocks underperformed, reflecting worries that rapid progress in generative AI could erode pricing power and cloud revenue visibility for more mature, legacy platforms.

Market attention now turns to the delayed January employment report and the upcoming CPI release, both of which are expected to shape expectations for the trajectory of economic cooling and the timing and pace of prospective monetary policy easing.