Wall Street Today: S&P 500 and DJIA Set Record Closes on Gains for AMZN, MU, CRM and Other Big Caps

The $Dow Jones Industrial Average (.DJI.US)$ gained 484.90 points (1%) to a record 49,462.08. finish, surpassing its previous record close set just one day earlier.

Similarly, the $S&P 500 Index (.SPX.US)$ rose 42.77 ticks (0.6%) to a best-ever 6,944.82 ending, beating a previous record close reached on Dec. 26.

Meanwhile, the $Nasdaq Composite Index (.IXIC.US)$ added 151.35 points (0.7%) to 23,547.17 – some 1.7% below its all-time-best closing set on Oct. 29.

The indexes rose in part on strength for key Big Techs like $SanDisk (SNDK.US)$ (27.6% higher), $Micron Technology (MU.US)$ (up 10%), $NEBIUS (NBIS.US)$ (8% firmer), $Tempus AI (TEM.US)$ (7.5% stronger), $Amazon (AMZN.US)$ (3.4% better) and $Salesforce (CRM.US)$ (which added 2.6%).

Adding to Tuesday's jovial mood, non-tech Dow components like $Amgen (AMGN.US)$ (up 3%) and $UnitedHealth (UNH.US)$ (2% firmer) also rose.

Three Mag-7 names rose – $Amazon (AMZN.US)$ with its previously noted 3.4% gain, plus $Microsoft (MSFT.US)$ (1.2% firmer) and $Meta Platforms (META.US)$ (0.3% higher).

$Tesla (TSLA.US)$ led the way lower with a 4.1% decline, apparently in response to word Monday that $NVIDIA (NVDA.US)$ plans to launch autonomous-driving artificial intelligence this quarter on certain cars made by $MERCEDES-BENZ GROUP AG UNSP ADR EACH REP 0.25 ORD SHS (MBGYY.US)$. Nvidia added that it intends to test robotaxis with unidentified partners by next year.

Other Mag-7 stocks to ease Tuesday included $Apple (AAPL.US)$ (down 1.8%), $Alphabet-A (GOOGL.US)$ (0.8% lower) and $NVIDIA (NVDA.US)$ (which lost 0.5%).

-- $SoFi Technologies (SOFI.US)$, down 7.9%. The financial-services platform fell after Bank of America resumed covering the stock with an "Underperform" rating.

-- Dow component $Chevron (CVX.US)$, which shed 4.5%. CVX, the only major U.S. oil company currently operating in petroleum-rich Venezuela, gave up much of a 5.1% gain it saw Monday following the U.S. military's raid over the weekend to arrest Venezuelan leader Nicolas Maduro. Maduro's ouster could mean an end to many nations' embargo against the country's energy exports.

-- $Alumis (ALMS.US)$, which soared 95.3%. The biotech rose on well-received Phase III trial results for its plaque-psoriasis drug.

-- Select space stocks, which extended their three-week-old run of choppy but generally rising prices. Tuesday's gainers included $Sidus Space (SIDU.US)$ (up 24.8%), $Rocket Lab (RKLB.US)$ (10.,1% better) and $AST SpaceMobile (ASTS.US)$ (which added 7.2%)

-- $Zeta Global (ZETA.US)$, 9.8% better. The AI-focused marketing company rose on news of a strategic collaboration with ChatGPT parent OpenAI.