US Market Soars: Dow Jones Hits Record High, S&P 500 Follows Amidst New Year Rally

• US stock market continues its new year rally, with benchmark indices strengthening for the third consecutive trading day in 2026.
• Dow Jones closed above 49,000 for the first time, jumping nearly 500 points and climbing approximately 1500 points in three days.
• S&P 500 also reached a record high near 6950, while Nasdaq gained 0.6% but remains 500 points from its peak.
• Despite the overall market rally, chip giant Nvidia Corp plummeted, even with strong demand for its H200 AI chips in China.
• US Services PMI slowed in December to 52.5, though a Bloomberg survey predicts a 10-20% S&P 500 increase this year.

Why It Matters: US stock market starts 2026 strong with Dow Jones and S&P 500 at record highs, despite Nvidia's dip.