Wall Street Hits Record Highs as Nvidia Shares Surge 6.3 Per Cent on New AI Chips
NEW YORK — US stock markets, known as Wall Street, recorded moderate gains at the start of the week, as investors closely monitored the progress of peace negotiations between the United States and Iran. Investors also welcomed the launch of new computer chips, which are touted to bring artificial intelligence (AI) to personal computing.
In trading on Monday (1/6/2026), the Dow Jones Industrial Average closed up 46.42 points, or 0.09 per cent, to 51,078.88. Meanwhile, the S&P 500 index strengthened by 19.90 points, or 0.26 per cent, to 7,599.96, and the Nasdaq Composite rose by 114.19 points, or 0.42 per cent, to 27,086.81.
Of the 11 main sectors within the S&P 500, only the technology and energy sectors recorded gains, while the utilities sector saw the largest percentage decline. The rise in the Dow Jones index remained relatively limited as most sectors within the S&P 500 remained in the red.
Regarding geopolitics, US President Donald Trump stated that talks with Iran are ongoing. Previously, Iranian news agencies reported that Tehran had halted indirect negotiations with Washington following a series of new attacks, potentially jeopardising diplomatic efforts to end the war, which has now entered its fourth month.
The escalation of the conflict drove crude oil prices higher, sparking market concerns regarding the impact of a prolonged war and its potential to accelerate inflation.
“We do not actually know what the situation is,” said Thomas Martin, Senior Portfolio Manager at GLOBALT, Atlanta, as quoted by Reuters on Tuesday (2/6/2026). “The market seems to think that something will be resolved at some point, but we do not have sufficiently good information to use as a reference, such as what Iran actually wants and what Trump is willing to accept.”
Stock gains continued after Trump stated that no Israeli troops would enter Beirut, a statement made following a telephone conversation with Israeli Prime Minister Benjamin Netanyahu.