Wall Street Sets New Record, Nvidia Leads Tech Stock Rally

Wall Street started June 2026 with a stellar performance. The three major U.S. stock indices collectively hit all-time highs at the close on Monday (6/1/2026), supported by a rally in technology stocks led by Nvidia and gains in the energy sector.
The S&P 500 rose 0.26% and closed at 7,599.96. Meanwhile, the Nasdaq Composite gained 0.42% to 27,086.81, and the Dow Jones Industrial Average increased by 46.42 points or 0.09% to 51,078.88. Wall Street started June 2026 with a stellar performance. The three major U.S. stock indices collectively hit all-time highs at the close on Monday (6/1/2026), supported by a rally in technology stocks led by Nvidia and gains in the energy sector.

The S&P 500 index rose 0.26% and ended at 7,599.96. Meanwhile, the Nasdaq Composite strengthened by 0.42% to 27,086.81, and the Dow Jones Industrial Average added 46.42 points or 0.09% to 51,078.88.

In addition to reaching record closing highs, all three indices also briefly touched new intraday highs.

Market gains were led by Nvidia, which surged over 6% after introducing its latest processor for personal computers (PCs). This increase also lifted related stocks, with Dell Technologies jumping more than 10% and HP Inc rising over 8%.

Conversely, Intel moved in the opposite direction, declining more than 4%, despite being a dominant player in the PC chip market for years.

Besides the technology sector, the energy sector was the only other group within the S&P 500 to record significant gains. Marathon Petroleum shares rose about 4%, while Exxon Mobil and Chevron gained 2.8% and 1.9%, respectively.

The energy sector's performance was supported by a surge in global oil prices. West Texas Intermediate (WTI) crude futures jumped 5.93% and closed at US$ 92.54 per barrel. Meanwhile, Brent crude rose 4.24% to US$ 94.98 per barrel.

The rise in oil prices was triggered by increasing geopolitical uncertainties in the Middle East. Iranian state media reported that negotiators from the country had halted communication with the United States. Tehran is also said to be considering closing the Strait of Hormuz in response to Israel's attack in Lebanon.

However, market participants remain optimistic. U.S. President Donald Trump made various statements regarding developments in relations with Iran.

"I really don't care. I don't care at all," Trump said when asked about the possibility of ending peace talks with Iran.

Trump also stated he would seek direct clarification from Benjamin Netanyahu regarding the situation in Lebanon.

"I will ask what is really happening in Lebanon," he said.

A few hours later, Trump revealed that he had productive discussions with Netanyahu.

"I just had a very productive conversation. No troops will be sent to Beirut, and the previously scheduled troops have been ordered to return," Trump wrote on Truth Social.

In a separate post, Trump also mentioned that communication with Iran is ongoing.

"Talks with Iran are continuing very rapidly," he wrote.

Geopolitical uncertainties remain a concern for the market after the U.S. and Iran exchanged attacks last weekend. U.S. Central Command (Centcom) announced it successfully intercepted two Iranian ballistic missiles aimed at U.S. military personnel in Kuwait.

Although the risk of conflict still looms, investors see a greater chance of de-escalation than new escalation. Last week, U.S. and Iranian negotiators reportedly reached a 60-day memorandum of understanding to extend the fragile ceasefire.

Orion's Chief Investment Officer, Tim Holland, believes the market no longer expects the conflict to flare up again like in the early stages of the war.

Wall Street Sets New Record, Nvidia Leads Tech Stock Rally
Tuesday, June 2, 2026 | 09:11 WIB
Wall Street Illustration
Wall Street started June 2026 with a stellar performance. The three major U.S. stock indices collectively hit all-time highs at the close on Monday (6/1/2026), supported by a rally in technology stocks led by Nvidia and gains in the energy sector.

The S&P 500 rose 0.26% and closed at 7,599.96. Meanwhile, the Nasdaq Composite gained 0.42% to 27,086.81, and the Dow Jones Industrial Average increased by 46.42 points or 0.09% to 51,078.88.

In addition to reaching record closing highs, all three indices also briefly touched new intraday highs.

Market gains were led by Nvidia, which surged over 6% after introducing its latest processor for personal computers (PCs). This increase also lifted related stocks, with Dell Technologies jumping more than 10% and HP Inc rising over 8%.

Conversely, Intel moved in the opposite direction, declining more than 4%, despite being a dominant player in the PC chip market for years.

Besides the technology sector, the energy sector was the only other group within the S&P 500 to record significant gains. Marathon Petroleum shares rose about 4%, while Exxon Mobil and Chevron gained 2.8% and 1.9%, respectively.

The energy sector's performance was supported by a surge in global oil prices. West Texas Intermediate (WTI) crude futures jumped 5.93% and closed at US$ 92.54 per barrel. Meanwhile, Brent crude rose 4.24% to US$ 94.98 per barrel.

The rise in oil prices was triggered by increasing geopolitical uncertainties in the Middle East. Iranian state media reported that negotiators from the country had halted communication with the United States. Tehran is also said to be considering closing the Strait of Hormuz in response to Israel's attack in Lebanon.

However, market participants remain optimistic. U.S. President Donald Trump made various statements regarding developments in relations with Iran.

"I really don't care. I don't care at all," Trump said when asked about the possibility of ending peace talks with Iran.

Trump also stated he would seek direct clarification from Benjamin Netanyahu regarding the situation in Lebanon.

"I will ask what is really happening in Lebanon," he said.

A few hours later, Trump revealed that he had productive discussions with Netanyahu.

"I just had a very productive conversation. No troops will be sent to Beirut, and the previously scheduled troops have been ordered to return," Trump wrote on Truth Social.

In a separate post, Trump also mentioned that communication with Iran is ongoing.

"Talks with Iran are continuing very rapidly," he wrote.

Geopolitical uncertainties remain a concern for the market after the U.S. and Iran exchanged attacks last weekend. U.S. Central Command (Centcom) announced it successfully intercepted two Iranian ballistic missiles aimed at U.S. military personnel in Kuwait.

Although the risk of conflict still looms, investors see a greater chance of de-escalation than new escalation. Last week, U.S. and Iranian negotiators reportedly reached a 60-day memorandum of understanding to extend the fragile ceasefire.

Orion's Chief Investment Officer, Tim Holland, believes the market no longer expects the conflict to flare up again like in the early stages of the war.

Temporary Agreement Between US and Iran Boosts Wall Street to New Highs
"U.S.-Iran relations are currently like two steps forward, one step back. But clearly, the market does not expect the conflict to escalate again as it did in the first two to three weeks," Holland said.

He believes market participants still trust that the current situation is closer to resolving the conflict than to new tensions.

"We are still closer to a way out of the conflict than to new escalation," he concluded. #ShareYourUSStocksWinNvidia