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US stock indices continued to record new historical highs, driven by a strong upward surge in technology and software stocks, with the S&P 500, Nasdaq and Dow Jones all closing at new highs for the fourth consecutive time, in a scene that reflects investors’ continued appetite for growth companies despite declining momentum in broad sectors of the market.
The S&P 500 rose about 0.3% during Monday’s trading, while the Nasdaq added about 0.4%, and the Dow Jones climbed about 47 points, or 0.1%, as investment flows were clearly concentrated on technology stocks, especially software companies that have regained their position as a major driver of the gains.
Several prominent names led this upward trend, with Salesforce shares jumping 10%, Figma rising more than 6%, Adobe climbing over 5%, and Progress Software posting gains of 7.5%. This performance reflects a notable shift in investor sentiment toward the software sector, following a prolonged period of skepticism regarding the attractiveness of SaaS companies and their ability to regain high growth rates.
This shift is most evident with the iShares Expanded Tech-Software Sector ETF rising by more than 40% since its mid-April low, signaling a strong return of bets on the software sector as one of the biggest beneficiaries of the wave of artificial intelligence and digital expansion.
At the heart of this upward trend, Nvidia continued to play the role of the main market driver, after CEO Jensen Huang announced new chips designed for personal computers based on artificial intelligence applications, expanding the scope of investment enthusiasm around this technology beyond data centers and servers to the personal computer market itself.
This technological momentum helped the three major US indexes close at simultaneous record highs for the fourth time in a row, an achievement not seen on Wall Street since November 2021.
Despite the positive figures, the market picture was not entirely cohesive. Market participation remained limited, meaning that fewer stocks were responsible for the bulk of the gains—a phenomenon that often reflects the concentration of capital in large companies with strong growth stories rather than a balanced spread of gains across different sectors.
In the background, geopolitical developments continued to add to the volatility and uncertainty. Iran announced the end of negotiations amid escalating tensions related to Israel and Lebanon, before US President Donald Trump later confirmed there were no plans to send American troops to Beirut, indicating that contacts with Hezbollah had helped to de-escalate the situation. He also stated that talks with Iran were continuing “at a rapid pace,” keeping hopes alive for a diplomatic solution among stakeholders.
But this combination of record gains and political tensions was reflected in futures trading, which was cautious overnight, with S&P 500 futures down about 0.3%, Nasdaq futures down about 0.5%, and Dow Jones futures down nearly 200 points, indicating that investors may be reassessing the pace of the rally after four consecutive sessions of record highs.
