Wall Street Reaches Record High as AI Chip Stocks Surge on Nvidia Processor News
Published on: Jan. 7, 2026, 7:39 a.m. | Source: scanx.trade
Wall Street achieved record highs on Tuesday, with the Dow reaching 49,466.30 and gaining 1.00% as semiconductor stocks surged on AI processor news from Nvidia's Jensen Huang. The S&P 500 rose 0.61% to 6,944.97, led by memory and storage companies including Western Digital (+16.77%) and Seagate Technology (+14.00%). The PHLX chip index hit an all-time high with 8% gains over three trading sessions, though market valuations remain elevated at 22 times expected earnings above the five-year average.
