US Stocks Snapshot-Nasdaq hits intraday record high as tech stocks regain footing

The benchmark S&P 500 .SPX and the blue-chip Dow .DJI already hit record highs in early August, making the Nasdaq the last major index to mark its recovery.

At 09:32 a.m. ET, the Dow Jones Industrial Average .DJI rose 155.42 points, or 0.30%, to 52,204.25, the S&P 500 .SPX gained 14.39 points, or 0.19%, to 7,779.09 and the Nasdaq Composite .IXIC added 89.57 points, or 0.33%, to 27,211.66.

Advancing issues outnumbered decliners by a 1.88-to-1 ratio on the NYSE and by a 1.78-to-1 ratio on the Nasdaq.

The S&P 500 posted no new 52-week highs and 5 new lows while the Nasdaq Composite recorded 12 new highs and 26 new lows.

Sept. 22 (Reuters) - The Nasdaq Composite IXIC.O touched an intraday record high on Tuesday for the first time since early June as technology stocks clawed back lost ground and retreating oil prices boosted risk appetite.

The index was last up 0.3% at 27,212.68, eclipsing its previous intraday record high of 27,190.21 hit on June 1.

Oil prices fell to a two-week low as prospects for increased oil supplies from the Gulf eased market concerns, with Iran signaling it could reopen the Strait of Hormuz soon, lifting markets globally.

Tech stocks, which have driven US markets to record highs this year, reclaimed the spotlight as AI demand showed no signs of abating and corporate earnings stayed resilient.

Chipmaker AMD AMD.O topped $1 trillion in market valuation on Monday as chip stocks surged, sending the Philadelphia SE Semiconductor index .SOX to a more than one-month high.