On January 26, the three major U.S. stock indices closed higher collectively, continuing the recent shock rebound trend. The Dow Jones Industrial Average closed at 49,412.40 points, up 0.64% or 313.69 points intraday, hitting a high of 49,488.81 points during the session. The Nasdaq Composite Index reported 23,601.36 points, up 0.43%, with a turnover of 331.46 billion U.S. dollars. The S&P 500 Index rose 0.50% to 6,950.23 points, and all three indices recovered part of the losses from last Friday.

Tech stocks showed significant differentiation. Apple, Meta, and Oracle rose more than 2%, while Google and Broadcom gained over 1%, boosted by the industry sentiment driven by Microsoft’s new AI chip launch. However, Tesla and AMD performed weakly, falling 3% and over 3% respectively, mainly affected by market concerns about the growth rate of electric vehicle demand and the competitive landscape of the chip industry. The Nasdaq Golden Dragon China Index closed down 0.63%, with many Chinese concept stocks such as Hesai Technology and Xiaoying Technology falling more than 5%.

From the recent trend, U.S. stocks have seen increased volatility but remained at a high level overall. Strategists from JPMorgan Chase and Goldman Sachs pointed out that corporate profits are spreading from large tech stocks to other sectors, with half of the S&P 500 constituent companies’ forward guidance exceeding expectations, and small and medium-cap cyclical stocks may usher in phased opportunities.