The New York Stock Exchange hits a new all-time high, driven by growth expectations for major technology stocks.

On the 27th, the New York stock market in the United States, amid ongoing uncertainty regarding the Middle East, was supported by expectations of improved performance from large technology companies, driving both the S&P 500 Index and the Nasdaq Composite Index to close at record highs.

That day, the S&P 500 Index rose 8.83 points (0.12%) from the previous trading day, closing at 7,173.91 points. The Nasdaq Composite Index, which has a heavier weighting in tech stocks, increased by 50.50 points (0.20%), closing at 24,887.10 points. Both major indices set new record highs. On the other hand, the Dow Jones Industrial Average, made up of 30 representative blue-chip stocks, fell 62.92 points (0.13%), closing at 49,167.79 points.

The market continued to watch the uncertainty surrounding the US-Iran ceasefire negotiations, but that day appeared to focus more on corporate earnings than on geopolitical tensions. In particular, large technology stocks leading the artificial intelligence, semiconductor, and platform industries once again became the core driving the upward trend in the U.S. stock market. Analysts believe that investors made preemptive purchases before earnings were announced to confirm whether these companies could maintain high levels of profitability.

With the S&P 500 Index and the Nasdaq Index moving in tandem to set new highs again, it once more showed that the recent U.S. stock market largely depends on growth expectations for a small number of large technology companies. The S&P 500 Index is a representative index that reflects the overall trend of the U.S. stock market, while the Nasdaq Index, with a higher weighting of tech stocks, is more sensitive in reflecting investor sentiment toward growth stocks. Meanwhile, the Dow Jones Index, which broadly reflects overall economic conditions, declined slightly—also confirming that there are clear differences in investment enthusiasm among different industries.

This trend suggests that, going forward, the degree to which the U.S. stock market is influenced by geopolitical variables may be less than the influence of large technology companies’ earnings and growth outlooks. However, as record highs keep being refreshed, the burden on stock prices may also increase. Therefore, it is expected that the market in the future will pay attention both to whether actual earnings can meet expectations and to whether the Middle East situation will evolve into further shocks.