New York stocks opened higher, driven by gains in technology stocks. In particular, the rise in shares of major technology companies, influenced by CES 2026, the world's largest electronics and IT trade show, created a positive atmosphere for the overall market.
On the morning of June 6th local time, the Dow Jones Industrial Average on the New York Stock Exchange rose 0.32% from the previous day, closing at 49,132.39 points. The S&P 500 and the Nasdaq Composite, which has a higher weighting in technology stocks, also rose 0.38% and 0.40%, respectively. The previous day, while digesting international political news such as the arrest of the Venezuelan president, the Dow Jones Industrial Average also hit a record closing high, a trend that continued on this day.
The technology sector's rise stemmed from anticipation of CES 2026. Nvidia, the AI semiconductor giant, unveiled its next-generation super chip, "Vera Rubin," and officially announced it had entered mass production, causing its stock price to rise 1.62%. Micron Technology, meanwhile, saw its stock price surge 6.68% after global investment bank Bernstein raised its target price, predicting that AI demand would drive the memory market into an upward cycle.
The release of the US December services purchasing managers' index also had a positive impact on market sentiment. S&P Global's figure was 52.5, lower than the previous reading (54.1) and market expectations (52.9), but this actually stimulated market expectations of a possible interest rate cut by the Federal Reserve. With signs of easing inflationary pressures, financial markets believe the possibility of monetary policy easing is increasing.
Investors are now focused on the ADP private sector employment data to be released on the 7th and the non-farm payrolls figure to be released on the 9th. These data are expected to be key factors in the Federal Open Market Committee's decision on interest rates at the end of this month. Adam Crisafuri, founder of Vital Knowledge, believes that the stimulus tone of fiscal and monetary policy is the core backdrop driving the stock market rally in 2026.
Meanwhile, major European stock markets also rose in tandem, with representative indices in London, Paris, and Frankfurt all recording gains. However, international oil prices (WTI) fell 0.94% during the same period, closing at $57.77 per barrel, causing a slight weakening in energy sector share prices.
The current upward trend in global stock markets is likely to continue to be supported in the short term by expectations of technological innovation and a shift in interest rate policy. However, if employment indicators suggest a renewed tightening stance, the possibility of increased short-term volatility cannot be ruled out.
