Business · Malaysia Bureau
Nasdaq reaches intraday record as Alphabet surges, Middle East tensions ease
The Nasdaq hit an intraday record high on Tuesday as investors digested optimism over potential US diplomatic talks with Iran and China. Alphabet's strong performance drove much of the tech-heavy index's gains.
LSN Malaysia ·
Technology stocks led market advances as traders positioned themselves ahead of anticipated negotiations that could ease geopolitical tensions in the Middle East and potentially extend the ongoing trade truce between the United States and China.
Alphabet's notable rally contributed significantly to the Nasdaq's upward momentum, with the search engine giant benefiting from renewed investor confidence in the technology sector. The intraday record marked the latest in a series of strong performances for US equity markets in recent weeks.
Market participants indicated that hopes for productive diplomatic engagement between Washington and Tehran, as well as continued constructive talks with Beijing, were supporting investor sentiment. Any breakthrough in these negotiations could potentially reduce economic uncertainties that have weighed on markets.
The broader technology index's performance reflects investor appetite for growth stocks as concerns over trade friction and regional instability show signs of moderating. Analysts note that developments in diplomatic channels will remain key factors influencing market direction in the coming weeks.