India, July 6 -- The US markets began their new trading week on an upbeat note amid gains by the technology sector and the semiconductors, with the Nasdaq Composite being the best performer among the US indices after advancing over 1%. The S&P 500 Index continued its winning streak with a record-setting performance while the Dow Jones Industrial Average briefly touched a lifetime high level above 53,000.

The new round of purchases of artificial intelligence and semiconductors shares was one factor that brought back optimism after the sector rotation seen last week. The weaker-than-expected US economic data, along with lower crude oil prices and less likelihood of an additional increase in the Federal Reserve interest rates also added to ...