US stocks close higher on strong tech performance

US stocks ended Tuesday’s session higher, supported by solid gains in technology and software shares, as concerns eased over the impact of artificial intelligence on business models across various sectors.

The Dow Jones Industrial Average added 076%, or 370 points, to 49,174 points.

The broader S&P 500 index gained 0.77%, or 52 points, to 6,890 points, while the Nasdaq Composite rose 1%, or 236 points, to 22,863 points.

In Europe, the Stoxx Europe 600 edged up 0.23% to 629 points, after falling to 625.70 points earlier during the session.

France’s CAC 40 inched up 0.26% to 8,519 points, while London’s FTSE 100 and Germany’s DAX remained unchanged at 10,680 points and 24,986 points, respectively.

After Japan’s stock market reopened following a public holiday, the Nikkei 225 rose 0.87% to 57,321 points, supported by artificial intelligence-related stocks, while the broader Topix index increased 0.20% to 3,815 points.

In oil markets, Brent crude futures for April delivery fell 1%, or $0.72, to $70.77 a barrel.

US WTI crude futures for April delivery lost 1%, or $0.68, to settle at $65.63 a barrel.

Gold futures for April delivery retreated 0.94%, or $49.30, to settle at $5,176.30 per ounce.

What’s Behind Market Moves?

Technology stocks rebounded after AMD revealed a deal to supply chips to Meta. Meanwhile, Anthropic announced the development of smart automation tools in collaboration with companies across multiple sectors, highlighting the complementary role of artificial intelligence.