The S&P 500 gained 42.77 points, or 0.62%, to end at 6,944.82 points, while the Nasdaq Composite gained 151.35 points, or 0.65%, to 23,547.17. The Dow Jones Industrial Average rose 484.9 points, or 0.99%, to 49,462.08.
00:00All right, we're going to move on with the international update with Wall Street ended higher on Tuesday as cheap stock surge on Renew AI Optimism, Modern Rally and the Dow Jones Industrial Average reached a record high.
00:13Moderna jumped after Bofa Global Research raised its price target on the drug maker, helping lift the S&P 500 Healthcare Index.
00:21Markets continue to be firm. We continue to see excitement around the AI ecosystem. Developments out of CES are really kind of continue to drive markets and the markets also digesting this past weekend's developments out of Venezuela.
00:38Memory and storage technology stocks rallied after NVIDIA CEO Jensen Huang, speaking at the Consumer Electronics Show in Las Vegas, gave details about upcoming AI processes that include a new layer of storage technology.
00:52Sendiz, Western Digital, Seagate Technology and Micron Technology all hit record highs.
00:59The PHLX Cheap Index also hit an all-time high, bringing its gain in the first three trading sessions of 2026 to about 8%.
01:07Investors are looking forward to reliable economic data as the effects of record for the three-day federal government shutdown wear-off and upcoming releases include the job openings and labour turnover survey on Wednesday and Friday's jobs report for December.
01:22Weaker-than-expected employment data could strengthen the case for central bank interest rate cuts.
01:27Heading into fourth quarter earnings season in the next few weeks, valuations on Wall Street remain relatively pricey.
01:34The S&P 500 is trading at about 22 times expected earnings, down from 23 in November but above the index five-year average of 19 according to LSEG data.
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