With the strength in artificial intelligence (AI)-related sectors continuing, the three major New York stock indexes closed at a record high on the 2nd.
On the New York Stock Exchange that day, the Dow Jones Industrial Average finished at 51,307.79, up 228.91 points, or 0.45%, from the previous session. The Standard & Poor's (S&P) 500 index closed at 7,609.78, up 9.82 points, or 0.13%, and the tech-heavy Nasdaq composite ended at 27,093.90, up 7.09 points, or 0.03%.
The S&P 500 and the Nasdaq extended their gains to close higher for the ninth straight trading day.
Hewlett Packard Enterprise Company (HPE) sustained AI optimism after releasing strong results the previous day on the back of rising demand for AI servers, sending its shares up 19.47% that day.
Meanwhile, semiconductor chip maker Marvell Technology jumped 32.52% that day after Nvidia Chief Executive Officer (CEO) Jensen Huang said it would be the next corporations to reach a $1 trillion market capitalization.
Meanwhile, Alphabet, Google's parent company, fell 3.8% that day as its announcement the previous day of a large paid-in capital increase of $80 billion (about 120 trillion won) for AI infrastructure investment weighed on the stock.
Berkshire Hathaway, known for its value-investing strategy, drew attention by participating in Alphabet's paid-in capital increase with about $10 billion (about 15 trillion won).
Until Warren Buffett retired from the Chief Executive Officer (CEO) post at the end of last year, Berkshire had taken a cautious stance on investing in tech stocks other than Apple.
The U.S. Department of Labor said in the Job Openings and Labor Turnover Survey (JOLTS) released that day that U.S. job openings in April were 7.6 million, up 731,000 from the prior month.
This is the highest in about two years since May 2024 (7.78 million), showing that the U.S. employment situation remains stable despite high oil prices stemming from the U.S.-Iran war.
David Solomon, Chief Executive Officer (CEO) of U.S. bank Goldman Sachs, said that day about the recent investment environment in financial markets, "We are clearly in a situation with more greed than fear."
International oil prices rose as conflicting remarks continued over the progress and outlook of cease-fire talks between the United States and Iran.
Brent futures settled at $96.00 per barrel, up 1.1% from the previous session, while U.S. West Texas Intermediate (WTI) futures closed at $93.76 per barrel, up 1.7% from the previous session.