US stocks rose, with the Dow Jones and S&P 500 indices hitting new record highs. Investors took advantage of buying technology stocks ahead of corporate quarterly performance and economic data releases, with the PHLX Semiconductor Index rising 1.8% to its highest level in over two months. However, the bond market was closed, with the market trading volume at only 9.55 billion shares, below the 20-day average of 12.05 billion shares.
The Dow Jones Industrial Average rose 201.36 points or 0.5%, closing at 43,065.22 points.
The S&P 500 index gained 44.82 points or 0.8%, closing at 5,859.85 points.
The Nasdaq index rose 159.75 points or 0.9%, closing at 18,502.69 points.
Chip software company ARM.US rose 6.8%, while Nvidia (NVDA.US) rose 2.4% to hit a new record high. Among major technology stocks, Alphabet (GOOGL.US), Apple (AAPL.US), Microsoft (MSFT.US), and Tesla (TSLA.US) rose 0.6% to 1.6%.
Caterpillar (CAT.US) was downgraded by brokerage firms, causing its stock price to fall by 2%. Boeing (BA.US) announced a quarterly loss worse than expected, leading to a 1.3% decrease in its stock price.