Wall Street extends gains, Dow Jones hits fresh record high

US stock indices rose during Tuesday’s trading session, extending their gains as technology and energy stocks rebounded amid ongoing assessment of the situation in Venezuela.

Richmond Federal Reserve President Thomas Barkin said that any upcoming decisions on interest rates will require clear and precise economic data, given the risks surrounding the central bank’s dual mandate of price stability and maximum employment.

Meanwhile, Federal Reserve member Steven Miran stated that the central bank will need to cut interest rates by more than 100 basis points during 2026, arguing that current monetary policy remains restrictive and is weighing on economic activity.

Markets are now awaiting the release of the US monthly jobs report for December, due on Friday, for further signals on the future direction of Federal Reserve policy.

In trading, the Dow Jones Industrial Average rose by 0.5%, or 241 points, to 49,218 as of 16:49 GMT. The broader S&P 500 gained 0.2%, or 16 points, to 6,918, while the Nasdaq Composite advanced by 0.2%, or 38 points, to 23,433.