The New York stock market extended its record-breaking run on Monday, the last trading day of June.
Buoyed by the strong performance of AI stocks, the broader S&P 500 and tech-heavy Nasdaq both set new records for the second straight day.
Nvidia, the AI powerhouse, continued its record-setting streak for the fourth consecutive day, building on momentum that began on June 25.
Investors are increasingly optimistic that Nvidia will be the first to enter the 4 trillion USD market cap club this summer.
Markets Shake Off Trump Tariff Concerns, Reach New Heights
All three major indices continued to maintain their upward trajectory.
The Dow Jones Industrial Average, comprising 30 blue-chip stocks, posted the day’s biggest percentage gains, although it fell short of the 45,000 milestone.
The Dow closed up 275.50 points (0.63%) at 44,094.77, just 2% shy of its all-time high of 45,014.04 set on December 4 of last year.
Both the S&P 500 and Nasdaq notched fresh records for the second day running.
The S&P 500 climbed 31.88 points (0.52%) to 6,204.95, while the Nasdaq rose 96.27 points (0.47%) to 20,369.73.
All three benchmarks recorded gains for June, the second quarter, and the first half of 2025.
For June, the Dow surged 4.32%, with the S&P 500 and Nasdaq jumping 4.96% and 6.57%, respectively.
The second quarter saw the most dramatic increases.
The S&P 500 and Nasdaq skyrocketed 11.42% and 16.76%, respectively, while the Dow leapt 8.42%.
For the first half of 2025, the Dow gained 3.64%, while both the S&P 500 and Nasdaq climbed 5.5%.
4 Trillion USD Club Within Reach
Anticipation is building that a new member could soon join the exclusive 4 trillion USD market cap club.
Nvidia, the leader in AI hardware, and Microsoft, a frontrunner in AI software, are both racing toward the milestone.
Nvidia is widely expected to be the first to enter the club.
Despite turning negative in the afternoon on Monday, Nvidia rebounded to close at a record high for the fourth straight day, extending its winning streak to six days since June 23.
Nvidia edged up 0.24 USD (0.15%) to 157.99 USD, bringing its gains since June 23 to 9.83%.
Its market cap now stands at a staggering 3.855 trillion USD.
Microsoft also made gains, rising 1.47 USD (0.30%) to 497.41 USD. The company is just shy of its record close of 497.45 USD set on June 26.
Microsoft’s market value has swelled to 3.69 trillion USD.
Tesla Slips as Apple Advances
Apple, which pioneered the 1 trillion USD, 2 trillion USD, and 3 trillion USD market cap milestones, is now lagging in the race to 4 trillion USD.
Apple’s stock has struggled as its AI strategy is perceived as lagging behind that of its competitors.
With a market cap just over 3 trillion USD, Apple faces an uphill battle to reach the 4 trillion USD mark.
However, the stock gained 4.09 USD (2.03%) on Monday, closing at 205.17 USD.
Year-to-date, Apple’s stock price remains down over 18%.
Tesla is also facing headwinds.
Tesla fell for a fifth consecutive day on Monday, partly due to CEO Elon Musk’s criticism of U.S. President Donald Trump’s tax cuts on June 28, which he called “completely insane.”
Tesla shares dropped 5.97 USD (1.84%) to 317.66 USD.
The stock has plunged nearly 9% over the past five days since June 24, completely erasing the 8% surge it enjoyed on June 23 following news of its robo-taxi service launch.
Tesla has declined more than 21% year-to-date.
