US Stock Market Today: Dow Jones Hits New Record High, Trump Credits Tariff Impact
Dow Jones Industrial Average touched a new 52-week high after rising 0.3% to 49,125.62.
Wall Street rallied in early trade on Tuesday, riding on the momentum seen on Monday when the main US stock market indices cheered the US military action in Venezuela.
Dow Jones Industrial Average touched a new 52-week high after rising 0.3% to 49,125.62, shortly after the opening bell. As of 10:14 a.m. EST, S&P 500 was up 0.42% at 6,932.01 and Nasdaq Composite rose 0.46% to 23,502.15.
US President Donald Trump linked the strong Wall Street performance in recent months to his tariff policy. "The USA markets just hit another all-time high... Thank you Mister Tariff (sic)," he posted on social media platform Truth Social.
"Pray that the United States Supreme Court allows our country to continue its unprecedented march towards unparalleled greatness. Both our national and financial security have never been stronger," he added.
Meanwhile, In early trade, Tesla Inc.'s stock declined over 3% to $436.21 after China's BYD outsold Tesla in two of the biggest European EV markets — Germany and the United Kingdom.
BYD registered more than twice as many new vehicles in December as Tesla did in Germany, Bloomberg reported, citing figures released Tuesday by the Federal Motor Transport Authority. In the UK too, the EV maker outperformed Tesla.
The rest of the Magnificent Seven stocks traded mixed, with bellwether company Nvidia Corp. trading 1.48% higher at $190.90, Apple Inc. declined 1.40% to $263.52, Google-parent Alphabet Inc. was up 0.48% at $318.08.
Besides this, Amazon Inc. traded 1.39% higher at $236.19 while Microsoft Corp. traded 0.10% lower at $472.39.
Spot gold prices edged 0.86% higher at $4,487.68 an ounce. In the crude basket, US West Texas Intermediate traded 0.86% lower at $57.89 a barrel and Brent crude trade 0.62% lower at $61.72 a barrel.
Crude, also known as black gold, remains in focus after the US attack on Caracas and its control over the country's oil reserves.
The Bloomberg Dollar Spot Index was little changed, while euro fell 0.1% to $1.1705. The British pound fell 0.2% to $1.3520 and the Japanese yen was little changed at 156.42 per dollar.
Bitcoin, the largest traded cryptocurrency, was little changed at $94,104.04.
