S&P 500 Tops 7400 for First Time as AI Chip Stocks Rally

On the 11th (local time), the Standard & Poor's (S&P) 500 index, a major U.S. stock index, closed above the 7400 mark for the first time in history on the New York stock market. At the New York Stock Exchange, the Dow Jones Industrial Average closed at 40,9704.47, up 95.31 points (0.19%) from the previous trading day. The S&P 500 index recorded 7412.84, an increase of 13.91 points (0.19%), and the Nasdaq Composite closed at 20,6274.13, up 27.05 points (0.10%).

The market generally rose, driven by performance expectations from artificial intelligence (AI) semiconductor-related companies. Despite this rise in energy prices, the market maintained optimism for technological growth, fueled by anticipation of strong earnings from AI semiconductor firms.

U.S. President Donald Trump heightened concerns on the 11th (local time) regarding the ceasefire situation with Iran. Following President Trump's remarks, international oil prices increased. Brent crude futures rose 2.9% to $104.21 a barrel compared to the previous trading day, while West Texas Intermediate (WTI) settled at $98.07 a barrel, up 2.8%.