U.S. equities closed sharply higher on Tuesday, with the Nasdaq Composite climbing 1.96% and locking in gains for 10 consecutive trading days, underscoring renewed risk appetite in big‑cap technology.
Summary
- Nasdaq jumps nearly 2% to log 10 straight days of gains.
- Dow and S&P 500 also close higher, powered by mega‑cap tech.
- Chinese tech stocks rally, with iQIYI and JD.com surging in U.S. trading.
The S&P 500 added 1.1%, while the Dow Jones Industrial Average rose 0.66%, according to market data from Gate.
Tech mega‑caps drive Wall Street rally {#tech-megacaps-drive-wall-street-rally}
Chipmaker Nvidia and e‑commerce giant Amazon each advanced 3.8%, extending a powerful rebound in U.S. growth stocks that have led major indices back toward record territory. Electric‑vehicle maker Tesla also gained more than 3%, adding further momentum to the tech‑heavy Nasdaq's winning streak.
The performance of these mega‑cap names continues to exert an outsized influence on U.S. benchmarks, with investors rotating back into longer‑duration growth assets as earnings optimism builds. Their simultaneous surge helped push the Nasdaq to its 10‑day run, a relatively rare stretch that points to strong short‑term bullish sentiment in the sector.
Chinese tech names surge via Golden Dragon index {#chinese-tech-names-surge-via-golden-dragon-index}
The Nasdaq Golden Dragon China Index, which tracks Chinese companies listed on U.S. exchanges, closed up 2.3% on the day. Within the basket, streaming platform iQIYI jumped 11%, while e‑commerce heavyweight JD.com soared nearly 8%, signaling renewed investor interest in U.S.‑traded Chinese tech.
The sharp move in Chinese ADRs highlights how global growth and tech narratives are increasingly intertwined across U.S. and Asian markets. As Wall Street's rally broadens beyond U.S. mega‑caps, moves in indices such as the Golden Dragon China suggest investors are again willing to add exposure to higher‑beta internet and platform plays listed in New York.
