LIVE MARKETS-US stocks deliver more record highs

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US STOCKS DELIVER MORE RECORD HIGHS

Wall Street rose on Tuesday, as chip stocks surged on renewed AI optimism. With this, the S&P 500 .SPX and the Dow Jones Industrial Average .DJI ended at record closing highs.

Of note, the Dow Jones Transportation Average .DJT delivered its first record close since late 2024.

Memory and storage technology stocks rallied after Nvidia NVDA.O CEO Jensen Huang, speaking at the Consumer Electronics Show in Las Vegas, gave details about upcoming AI processors that include a new layer of storage technology.

The PHLX chip index .SOX jumped more than 2.5%, bringing its gain in the first three trading sessions of 2026 to around 8%.

Most S&P 500 .SPX sectors rose on the day with Materials .SPLRCM and Healthcare .SPXHC posting the biggest gains. Despite chip strength, Tech .SPLRCT was a middle-of-the-pack gainer. (The Mag 7 ETF MAGS.K closed down.) Energy .SPNY was the weakest S&P 500 group.

Value .IVX outperformed Growth .IGX for an eighth straight session. That's the longest such streak since a nine-day run that ended in early January 2024. The Equal-Weighted S&P 500 index .SPXEW outperformed the cap-weighted version for a third day in a row.

The Dow Industrials notched its second record closing high of 2026, and ended above 49,000 for the first time. Meanwhile, followers of Dow Theory may be breathing a bit easier as the Dow Transports scored its first record close since November 25, 2024. The DJT is still down about 1.2% from its November 2, 2021 record intraday high, but at least in terms of closing highs, these two averages are confirming their trends.

It was the SPX's first record close since December 24 of last year. The Nasdaq Composite .IXIC ended down 1.7% from its October 29, 2025 record finish.

Among other indexes that ended at record closing highs on Tuesday were the NYSE Composite .NYA, the S&P 400 mid-cap index .MID, the SOX, S&P 500 Industrials .SPLRCI, S&P 500 Financials .SPSY, S&P 500 Banks .SPXBK, the PHLX Gold/Silver Index .XAU, S&P 500 Value and the SPXEW.

Here is Tuesday's closing snapshot:

(Terence Gabriel)

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