Wall Street Edges Higher as AI Rally Offsets Middle East Risks, Lifting Dow 0.45%
Updated
Updated · Reuters · Jun 2
Wall Street Edges Higher as AI Rally Offsets Middle East Risks, Lifting Dow 0.45%
3 articles · Updated · Reuters · Jun 2
The Dow rose 228.91 points to 51,307.79, while the S&P 500 added 0.13% and the Nasdaq finished just 0.03% higher as AI-linked buying kept indexes in positive territory.
Semiconductor shares jumped 5.9%, helped by Hewlett Packard Enterprise's 19.5% surge and Marvell's 32.5% leap after Nvidia CEO Jensen Huang called it the next trillion-dollar company.
Alphabet slipped 3.9% despite plans to raise $80 billion for AI infrastructure, and software shares fell 3.3%, underscoring sharp dispersion inside the AI trade.
Middle East tensions still capped gains: crude's war-driven rise revived inflation fears, Cleveland Fed President Beth Hammack said a rate hike could be needed, and traders now await Friday's payrolls report for 85,000 jobs.