U.S. stocks rose for a fourth consecutive day, with the Dow ending up $253.38 and the Nasdaq reaching a new record high. The pause in the rise in long-term interest rates provided a catalyst for buying.
The Dow Jones Industrial Average rose for a fourth consecutive day, closing at $51,521.28. Buying was dominant against a backdrop of a pause in the rise in long-term interest rates. With earnings releases set to gather pace, strength in technology stocks, reflecting persistent demand for AI-related products and services, supported the market.
The technology-heavy Nasdaq Composite rose for a fifth consecutive session, closing at 22,759.89 and setting a new record high for the second straight day. Among individual stocks, Walmart and Home Depot stood out with gains, while aerospace equipment maker Boeing was sold.
The strength of the U.S. equity market continued amid the overall market trend.