Cooling systems firms fall after Nvidia CEO’s commentsMemory and storage chipmakers hit record highsStock valuations pricey ahead of earnings seasonS&P 500 +0.62%, Nasdaq +0.65%, Dow +0.99%<\/p>\n
Jan 6 (Reuters) – Wall Street ended higher on Tuesday, as chip stocks surged on renewed AI optimism, Moderna rallied and the Dow Jones Industrial Average reached a record high.<\/p>\n
Moderna (MRNA.O), opens new tab<\/a> jumped almost 11% after BofA Global Research raised its price target on the drugmaker, helping lift the S&P 500 healthcare index (.SPXHC), opens new tab<\/a> 1.96%.<\/p>\n Sign up here.<\/a><\/p>\n Memory and storage technology stocks rallied after Nvidia CEO Jensen Huang, speaking at the Consumer Electronics Show in Las Vegas, gave details <\/a> that include a new layer of storage technology.SanDisk (SNDK.O), opens new tab<\/a> jumped over 27%, Western Digital (WDC.O), opens new tab<\/a> rallied 17%, Seagate Technology (STX.O), opens new tab<\/a> gained 14% and Micron Technology (MU.O), opens new tab<\/a> rose 10%, with all four stocks hitting record highs.The PHLX chip index (.SOX), opens new tab<\/a> also hit an all-time high, up 2.75% for the day and bringing its gain in the first three trading sessions of 2026 to about 8%.<\/p>\n “I think we’re going to have a very strong earnings season for Big Tech, and all those capex estimates that we hear about are going to be revised higher again,” said Jed Ellerbroek, portfolio manager at Argent Capital in St. Louis.<\/p>\n S&P 500 components so far in 2026<\/p>\n Investors are looking forward to reliable economic data as the effects of a record 43-day federal government shutdown wear off, and upcoming releases include the Job Openings and Labor Turnover Survey on Wednesday and Friday\u2019s jobs report for December. Weaker-than-expected employment data could strengthen the case for central bank interest rate cuts.<\/p>\n Heading into fourth-quarter earnings season in the next few weeks, valuations on Wall Street remain relatively pricey. The S&P 500 is trading at about 22 times expected earnings, down from 23 in November, but above the index’s five-year average of 19, according to LSEG data.<\/p>\n The S&P 500 climbed 0.62% to end the session at 6,944.82 points.<\/p>\n The Nasdaq gained 0.65% to 23,547.17 points, while the Dow Jones Industrial Average rose 0.99% to 49,462.08 points, nearing the historic 50,000 mark.<\/p>\n Volume on U.S. exchanges was relatively heavy, with 18.7 billion shares traded, compared with an average of 16.1 billion shares over the previous 20 sessions.<\/p>\n Data on Tuesday showed S&P Global’s final composite PMI slipped to 52.7 in December from 53.0 in the prior month, while the services PMI eased to 52.5 from 52.9.<\/p>\n Markets also parsed comments from Richmond Federal Reserve President Tom Barkin, who reiterated the U.S. central bank’s careful take<\/a> on further cuts, in contrast to Governor Stephen Miran’s call for aggressive cuts<\/a> in a Fox Business interview.Investors brushed aside fears of broader geopolitical fallout after U.S. forces captured Venezuelan President Nicolas Maduro<\/a> over the weekend, betting the move could pave the way for U.S. firms to gain access to Venezuela’s oil reserves.Oil stocks dipped after robust gains in the prior session, with giants Exxon Mobil (XOM.N), opens new tab<\/a> and Chevron (CVX.N), opens new tab<\/a> losing 3.4% and 4.5%, respectively.Comments by Nvidia’s Huang about the efficiency of the company’s new chips raised concerns<\/a> about demand for data center cooling systems. Shares of Johnson Controls (JCI.N), opens new tab<\/a> fell 6.2%, while Trane Technologies dropped 2.5%.AIG (AIG.N), opens new tab<\/a> shares tumbled 7.5% after the insurance giant said CEO Peter Zaffino would step down<\/a>.Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX), opens new tab<\/a> by a 3.1-to-one ratio.<\/p>\n The S&P 500 posted 62 new highs and 8 new lows; the Nasdaq recorded 126 new highs and 42 new lows.<\/p>\n Reporting by Noel Randewich in San Francisco; Additional reporting by Purvi Agarwal and Nikhil Sharma in Bengaluru; Editing by Maju Samuel and Matthew Lewis<\/p>\n Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n Purchase Licensing Rights<\/a><\/a><\/p>\n San Francisco correspondent covering the stock market with a focus on Big Tech, semiconductors and other Silicon Valley companies<\/p>\n","protected":false},"excerpt":{"rendered":"Cooling systems firms fall after Nvidia CEO’s commentsMemory and storage chipmakers hit record highsStock valuations pricey ahead of…\n","protected":false},"author":2,"featured_media":355854,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[136837,136842,136838,131649,131469,84,132261,131628,132277,131657,132301,132264,11699,132265,59,90958,136839,13375,132271,132300,135083,131651,131472,136840,136841,22829,90959,105212,131631,80556,132306,132313,132312,56,54,55,741,131647],"class_list":{"0":"post-355853","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-n","9":"tag-n-c","10":"tag-n-p","11":"tag-amers","12":"tag-blr","13":"tag-business","14":"tag-cen","15":"tag-cmpny","16":"tag-destortao","17":"tag-destousbsm","18":"tag-eci","19":"tag-eco","20":"tag-fin","21":"tag-fins","22":"tag-gb","23":"tag-gen","24":"tag-insr","25":"tag-int","26":"tag-mce","27":"tag-mktrep","28":"tag-mtgfx","29":"tag-namer","30":"tag-news1","31":"tag-pins","32":"tag-pins1","33":"tag-pmi","34":"tag-pol","35":"tag-potus","36":"tag-publ","37":"tag-rep","38":"tag-stx","39":"tag-topcmb","40":"tag-topnws","41":"tag-uk","42":"tag-united-kingdom","43":"tag-unitedkingdom","44":"tag-us","45":"tag-wash"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/355853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=355853"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/355853\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/355854"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=355853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=355853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=355853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}