US markets wrap: Dow Jones, S&P500 continue the record run, Nasdaq advances 1%; all you need to know

The US markets continued their winning streak for the third consecutive session as the Dow Jones and the S&P500 closed at record high levels. The tech-heavy Nasdaq index, too, added gains in Tuesday’s session.

The Dow Jones closed at 49,462, up by 484 points or 0.9%, followed by the S&P500 at 6,944, up by 43 points or 0.62%. Lastly, the Nasdaq closed 238 points higher at 25,639, just shy of previous record high levels.

Semiconductor stocks like Nvidia, Micron Energy, Texas Instruments, Analog Devices and NXP continued to gather investor attraction as they closed with gains between 5% to 10% on Tuesday. Nvidia’s CEO Jensen Huang said the company is seeing strong demand for its H200 chips from China.

This comes after China refrained from importing H200 chips from the US after the president put export restrictions on the Nvidia chips to China.

In the latest developments on the Venezuela fiasco, President Donald Trump has ordered the interim government in Venezuela to give millions of crude oil to the US, roughly in the range of 30 to 50 million barrels. Trump said, “The oil will be sold at its market price and the money controlled by me as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States”.

Following the announcement, the WTI crude oil prices fell another 2% in early morning trade on Wednesday at $55 per barrel, and Brent crude oil prices traded flat at $60 per barrel on Wednesday morning.

Meanwhile, investors are now focusing on the crucial macroeconomic data scheduled to be released later today. The eyes will be on the Jobs data, which will provide a cue for further Federal rate cuts. However, market participants are vary of the Jobs data, which will reflect the impact of the US government shutdown in the latest numbers.

The Federal Reserve governors are now batting for more rate cuts in 2026 to support the growth as inflation remains near the 2% target level. Minneapolis Federal Reserve President Neel Kashkari said, inflation is trending down but the risk of jobless rate could pop higher.

The US market futures traded steady in after hours and Wednesday morning after strong gains on Tuesday.