U.S. stocks rose on lower oil prices and optimism over AI. The Dow gained $366.19 to close at 52048.83, the Nasdaq rose 599.55 to 27122.09, and the S&P 500 gained 114.20 to 7764.70. Falling oil prices and gains in AI-related stocks supported the market.
Buying prevailed broadly in U.S. stocks, with the Dow Jones Industrial Average ending 366.19 points higher than the previous day at 52048.83, the Nasdaq up 599.55 at 27122.09, and the S&P 500 up 114.20 at 7764.70. News related to China and geopolitical developments affected investor sentiment, but lower oil prices and optimism over AI pushed the market higher. Expectations of further declines in oil prices also led to observations of lower long-term interest rates.
In the ADR market, Japanese stocks were reported to have risen, with Sumitomo Mitsui Financial Group, Advantest and Tokyo Electron among those bought relative to their Tokyo Stock Exchange prices. Yen-converted prices based on closing levels were also reported, supporting the overall market's firm tone.
Among AI-related stocks, META rose as its new AI agent, Muse, received favorable reviews, while some investors raised their investment ratings ahead of a Meta event. AMD and INTC were also reported to have risen on the favorable reception for the company's AI agent. Cloud retailer Shopify also advanced after announcing plans to strengthen its partnership with META.
Overall, lower oil prices and strong optimism over AI supported the market. Sectors including media and entertainment and semiconductors rose, while energy declined. Market trends are expected to depend on upcoming U.S. market data and developments in AI-related events.