On the 6th (local time), U.S. stocks in New York closed higher across the board on a rebound in semiconductor shares.
On the day, the Dow Jones Industrial Average finished at 53,055.91, up 155.84 points (0.29%) from the previous session. This is the first time the Dow has surpassed the 53,000 level.
The Standard & Poor's (S&P) 500 rose 54.19 points (0.72%) to 7,537.43, and the tech-heavy Nasdaq composite ended up 288.49 points (1.12%) at 26,121.16.
Semiconductor stocks rebounded as bargain hunters stepped in. The S&P 500 information technology (IT) sector index rose, and the Philadelphia Semiconductor Index also halted its two-day slide and rebounded 2.2%.
Broadcom rose about 3.7% on news it would extend its partnership with Apple through 2031. Nvidia, addressing a report that the launch of its next-generation AI servers would be delayed more than a year due to manufacturing difficulties, officially confirmed that "there is no issue with the roadmap," and gained 0.4%.
With Samsung Electronics and SK hynix each set to release quarterly results, expectations for SK hynix's American depositary receipt (ADR) listing on the Nasdaq also boosted investor sentiment.
Solid economic data also supported sentiment. The Institute for Supply Management (ISM) released the June services purchasing managers index (PMI) at 54.0, in line with market expectations.
The market is focused on the Federal Open Market Committee (FOMC) minutes for June, to be released on the 8th. Recently, some analysts have said the Federal Reserve's burden to raise rates within the year has eased.