U.S. Stocks End Tuesday Predominantly Higher
The Dow Jones Industrial Average surged 1.18%, climbing 559.33 points to establish a record closing peak of 47,927.96, while the S&P 500 advanced 0.21%, adding 14.18 points to settle at 6,846.61.
Conversely, the technology-concentrated Nasdaq composite declined 0.25%, shedding 58.87 points to finish at 23,468.30.
The predominantly bullish momentum followed the US Senate's approval of legislation funding federal operations through Jan. 30, effectively terminating America's most protracted government closure.
The measure advanced to the House of Representatives after securing 60-40 passage with backing from nearly all Republican lawmakers and select Democratic senators. President Donald Trump will receive the legislation for executive approval pending House authorization.
Crucial economic data releases including consumer and producer price indices scheduled for this week remain suspended as federal agencies continue shutdown protocols.
Separately, Trump disclosed late Monday that US and Switzerland are negotiating a commercial agreement potentially reducing the 39% levy imposed on Swiss imports.
He informed reporters in the Oval Office that White House officials are "working on a deal to get the tariffs a little lower" with Switzerland.
Meanwhile, apprehension regarding technology and AI equity valuations intensified after Japanese conglomerate SoftBank revealed it liquidated its complete Nvidia position for $5.83 billion.
Following SoftBank's disclosure, Nvidia's shares tumbled 3%, Oracle decreased 1.94%, Micron Technology dropped 4.8% and Palantir Technologies declined 1.37%.
AMD's stock retreated 2.65% despite chip manufacturer CEO Lisa Su asserting Tuesday that over the next three to five years, the firm's overall revenue growth would increase by roughly 35% annually due to the "insatiable" demand for AI chips.
AI cloud infrastructure provider CoreWeave's shares plummeted 16.3% after the firm's guidance missed expectations.
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