Tuesday, June 3, 2025

Wall Street Bounces Back: Dow Hits All-Time High Again!

Newsis

The New York stock market rebounded strongly on Wednesday, continuing its record-setting momentum after a brief one-day decline. The Dow Jones Industrial Average, which tracks 30 major blue-chip stocks, resumed its upward streak, with companies like Disney, Visa, Nike, and Cisco Systems posting strong performances.

Record-Breaking Streak Resumes

All three major indices rallied, with the Dow Jones reclaiming its record-breaking trajectory. The Dow closed up 337.28 points (0.79%) at 40,077.70, resuming its record-setting pace after a three-day pause. Notable gains in Cisco (up 4.25%), Nike (up 2.22%), Disney (up 2.69%), and Visa (up 2.95%) contributed to the Dow’s rise.

The S&P 500 gained 27.21 points (0.47%), ending the day at 5,842.47, though still short of its all-time high of 5,895.85 set on the 14th. The Nasdaq also rose, finishing at 10,367.08, up 51.49 points (0.28%).

The Wall Street “fear index” (CBOE Volatility Index) dropped below the 20-mark, falling by 1.06 points (5.14%) to 19.58, signaling a decline in market uncertainty.

Semiconductor Stocks Rebound

Semiconductor stocks rebounded after sharp declines the previous day. Nvidia, a leading player in AI chips, surged by $4.12 (3.13%) to $135.72, recovering part of its 4.7% drop. Broadcom also gained $0.84 (0.48%) to close at $176.82, and Micron, a supplier of AI memory semiconductors, jumped $4.92 (4.72%) to $109.24.

However, the lingering effects of ASML’s earlier stock drop, caused by concerns over the semiconductor industry’s recovery, continued to weigh on the sector. ASML’s ADRs fell by $46.91 (6.42%) to $683.52, although this improved from its 16% plunge the day before. AMD, despite fluctuations, closed down $0.51 (0.33%) at $156.13, and Intel dropped $0.35 (1.54%) to $22.31 amid concerns over Chinese security reviews.

Small Modular Reactors (SMRs) Surge

Companies involved in small modular reactors (SMRs) saw their stocks soar after Amazon announced plans to use SMRs to power its Amazon Web Services (AWS) data centers. Oklo, supported by OpenAI CEO Sam Altman, skyrocketed by $4.89 (41.97%) to $16.54, and another SMR developer, NuScale Power, surged by $5.45 (40.01%) to $19.07. Uranium producer Cameco gained $5.38 (7.55%) to close at $76.68.

Dominion Energy, which contracted with Amazon to supply power, rose $2.94 (5.10%) to $60.55, while Constellation Energy, set to provide nuclear power to Microsoft, climbed $13.65 (5.13%) to $279.80.

International Oil Prices Decline for Fourth Straight Day

International oil prices continued to fall for the fourth consecutive day. The U.S. reportedly provided Patriot missile defense systems to Israel, and Israel agreed to avoid striking Iranian oil facilities, contributing to the easing of oil price spikes.

Despite the drop, oil prices remained relatively stable. Brent crude oil fell by $0.03 (0.04%) to close at $74.22 per barrel. In comparison, West Texas Intermediate (WTI) crude oil declined by $0.19 (0.27%) to $70.39 per barrel, bringing prices back to levels seen before concerns about a potential Israeli attack on Iranian oil facilities.

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