Nasdaq Composite closes at a record as Meta and chip stocks surge

The Nasdaq Composite surged 2.26% to finish at a record close of 27,122.09, driven by substantial momentum across major technology and semiconductor equities. The tech-heavy Nasdaq 100 also rallied sharply, gaining 2.83% to end at 30,482.35. A favorable macroeconomic environment—characterized by falling crude oil prices and easing U.S. Treasury yields—provided additional tailwinds for high-growth assets across the broader market. Rallying mega-cap tech shares were led by Meta Platforms, which surged over 11% following immense investor optimism surrounding its Muse AI assistant. This enthusiasm rippled across chipmakers expected to benefit from burgeoning computational demand, driving Arm Holdings up 17.16%, Intel up 12.17%, and AMD up 9.95%, the latter crossing a $1 trillion market valuation during the session. From a technical perspective, the breakout above previous closing highs indicates strong bullish conviction. However, analysts emphasize that maintaining support above these prior resistance levels in subsequent trading sessions will be critical to confirming sustained upside momentum.