On Tuesday, the S&P 500, Dow Jones, and Nasdaq 100 all closed higher, with stock indexes hitting record highs. Chipmakers and data storage companies led the rally, while mining stocks surged as copper prices hit all-time highs. Global equity markets also rose, boosting US stocks.

Bond yields rose slightly, with the 10-year T-note yield up to 4.18%. Inflation expectations increased, pushing yields higher. US economic news was negative, with a downward revision to the Dec S&P services PMI.

Fed comments were mixed, with Richmond Fed President Barkin sounding slightly hawkish and Fed Governor Miran taking a more dovish stance. Expectations for rate cuts are high, with markets eyeing upcoming US economic data.

Overseas markets settled higher, with the Euro Stoxx 50, Shanghai Composite, and Nikkei Stock 225 reaching new highs. European government bond yields fell, with the 10-year German bund yield dropping. Economic data showed a slight downturn in the Eurozone PMI.

Stocks in the US moved significantly, with chip makers and data storage companies leading gains. Mining stocks also surged, while energy producers and service providers saw losses. Notable gainers included Sandisk, Western Digital, and Hecla Mining, while Nvidia’s cooling technology impacted certain stocks negatively.

In the tech sector, Aeva Technologies, OneStream, and Zeta Global Holdings saw substantial gains, while Oculis Holdings AG and Axon Enterprise also closed higher. Vistra Corp. made headlines with a $4 billion deal for power plants, while Versant Media Group and AIG faced losses.

Earnings reports for January 7, 2026, included Albertsons Cos Inc, Constellation Brands Inc, Jefferies Financial Group Inc, and MSC Industrial Direct Co Inc. Markets are closely watching upcoming economic data and rate cut expectations.

Read more at Yahoo Finance: S&P 500 and Dow Rally to Record Highs as Tech Stocks Surge