RismadarVoice Reporters
October 7, 2026
United States stocks climbed to record levels on Tuesday as continued optimism surrounding artificial intelligence strengthened demand for major technology companies.
The S&P 500 gained 0.58 per cent, moving above its previous record set in August, while the technology-heavy Nasdaq Composite advanced 0.45 per cent to reach a fresh high.
Most of Wall Street’s largest technology companies finished higher, with six of the seven stocks commonly grouped as the “Magnificent Seven” recording gains.
Amazon led the group with a 1.95 per cent increase, while Microsoft rose 0.78 per cent and Tesla gained 0.51 per cent.
Apple and Alphabet each advanced 0.22 per cent, while Nvidia added 0.14 per cent. Meta was the only member of the group to decline, falling 0.41 per cent.
Elsewhere in the technology sector, Marvell Technology jumped 5.81 per cent, while Cisco gained 4.54 per cent.
The latest gains extend a strong year for US equities, with the S&P 500 up about 14 per cent in 2026 and the Nasdaq gaining about 18.78 per cent.
Investor enthusiasm over artificial intelligence has remained a major force behind the rally, particularly as technology companies continue to commit substantial investment to data centres, computing infrastructure and AI development.
The market has remained resilient despite pressure from higher oil prices, elevated interest rates and weakness in US government bonds amid concerns about federal debt.
Keith Lerner, chief investment officer and chief market strategist at Truist Advisory Services, said technology and artificial intelligence remained major drivers of the market’s performance.
Some market analysts, however, have cautioned that the rally has become increasingly dependent on a relatively small group of large technology companies.
Lochlan Halloway, senior equity strategist at Morningstar Australia, said investors were effectively betting that the huge amounts being invested in AI infrastructure would eventually generate strong financial returns.
Lerner said the rally could continue towards the end of the year if corporate earnings remain supportive, although higher interest rates remain an important risk for equities.
Asian markets moved lower in early Wednesday trading following Wall Street’s record-setting session.
Japan’s Nikkei 225 declined 0.79 per cent, South Korea’s Kospi fell 1.36 per cent and Hong Kong’s Hang Seng dropped 0.71 per cent.
Oil prices also remained elevated amid geopolitical concerns involving Iran and continuing conflict in Yemen.
Brent crude futures for December delivery rose 0.87 per cent to $101.45 per barrel as of 2:30 a.m. GMT on Wednesday.
