US equities pushed to fresh record highs on Monday, with technology doing most of the heavy lifting while broader markets showed a more restrained tone.
The S&P 500 (SPX) rose nearly 0.3% to close above 7,600, extending its record run. The Dow Jones Industrial Average (DJI) finished marginally higher, while the Nasdaq Composite (NDX) gained around 0.4% as chipmakers and software names led gains.
Technology sentiment was underpinned by developments from the Computex Taipei conference, where semiconductor firms highlighted progress in artificial intelligence infrastructure and next-generation computing demand.
The strongest move came from Nvidia, which surged more than 6% after unveiling its RTX Spark superchip for Windows laptops. The chip combines a Blackwell GPU with a Grace CPU and is aimed at AI workloads, gaming and content creation.
The announcement reinforced Nvidia’s position at the centre of the AI hardware cycle, while also adding pressure on rival chipmakers.
Intel fell around 6% and AMD dropped roughly 5%, while Microsoft gained around 3% on continued AI-related optimism.
In parallel, energy markets moved lower after early volatility as geopolitical signals from the Middle East shifted through the session.
Oil initially reacted to reports from Iran’s Tasnim news agency that talks with the US had been suspended over regional tensions involving Israel and Gaza, which added upward pressure to crude.
Sentiment later eased after US President Donald Trump said he had a “very productive call” with Israeli Prime Minister Benjamin Netanyahu and indicated no troop deployment to Beirut.
He also added that discussions with Iran were continuing at pace, which helped stabilise expectations around supply risk.
West Texas Intermediate traded just above $92 per barrel, while Brent held near $95 per barrel as traders reassessed geopolitical risk premiums.
Outside the energy and tech, AMC Entertainment was one of the most volatile movers of the session, rising 22.54%.
The move followed stronger cinema attendance data showing 25.5 million theatre visits in May, the highest May performance since 2019.
Demand was supported by the Memorial Day weekend, which delivered 4.2 million admissions across four days, driving a sharp rise in trading activity.
Despite the improvement, AMC continues to face financial pressure, with around $7 billion in net debt against a much smaller market valuation.
Investors are now focused on whether improved attendance can continue through 2026, supported by upcoming releases including major franchise titles.
Attention now shifts to Friday’s US nonfarm payrolls report, which is expected to provide further clarity on labour market strength.
The data will be closely watched for signals on the Federal Reserve’s policy path in the months ahead, particularly as markets remain sensitive to both growth and inflation trends.
