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Tech Rally Lifts Wall Street to Fresh Records as Apple Briefly Hits $4 Trillion

Investors brace for a near‑certain Fed rate cut that traders say could extend risk‑on flows.

Overview

  • The Dow rose 0.34%, the S&P 500 gained 0.23%, and the Nasdaq added 0.80%, marking a third straight session of all‑time highs.
  • Nvidia jumped about 5% after announcing plans to build seven supercomputers for the U.S. Department of Energy.
  • Microsoft climbed roughly 2% and reclaimed a valuation above $4 trillion after OpenAI completed its restructuring, granting Microsoft a 27% stake in the for‑profit entity.
  • Apple crossed the $4 trillion market‑cap threshold intraday, becoming the third public company to reach that level before closing just under it on strong iPhone 17 sales.
  • Futures imply near‑100% odds of a 25‑basis‑point Fed cut on Wednesday, with markets also eyeing Big Tech earnings and a scheduled TrumpXi meeting in Busan.