U.S. stock indices closed mixed, with the S&P 500 and Nasdaq reaching new record highs. Major technology stocks mostly advanced, and Chinese concept shares also saw broad gains, while Tesla surged nearly 8%.

The Federal Reserve released its Beige Book, indicating that Middle East conflicts are a primary source of economic uncertainty.

The S&P 500 rose 0.8% to close at 7,022.95 points, and the Nasdaq increased 1.59% to finish at 24,016.02 points, marking its eleventh consecutive day of gains. Both indices achieved new closing records.

In contrast, the Dow Jones Industrial Average declined 0.15%, ending at 48,463.72 points.

Among blue-chip stocks, Caterpillar fell 3.04%, Merck dropped 1.70%, and JPMorgan Chase declined 1.68%, leading the losses.

Most large-cap technology stocks advanced, with the Wind US Tech Seven Giants Index rising 2.22%.

Tesla surged 7.62%, Microsoft gained 4.61%, and Apple increased 2.94%, leading the gains among the seven major U.S. technology companies.

Chinese concept stocks also mostly rose, with the Nasdaq Golden Dragon China Index and the Wind China Concept Tech Leaders Index both increasing 0.75%.

Baidu Group climbed 2.29%, NetEase advanced 2.00%, and Alibaba rose 1.45%, leading the gains among the components of the Wind China Concept Tech Leaders Index.

On April 15, local time, the Federal Reserve released its Beige Book, stating that Middle East conflicts are viewed as a major source of uncertainty, complicating corporate decisions regarding hiring, pricing, and capital investment. Many companies have adopted a wait-and-see approach.

The report also noted that overall employment remained stable or increased slightly during the reporting period, while price growth remained mostly moderate.

Regarding prices, the Beige Book indicated that overall price increases were generally mild, with most regions reporting moderate rises and others noting slight gains. Input costs frequently rose more than selling prices, squeezing profit margins.

All regions reported significant increases in energy and fuel costs, attributed to Middle East conflicts, leading to higher freight and transportation expenses, as well as increased prices for plastics, fertilizers, and other petroleum-based products.

Beyond energy-related increases, input cost pressures were widespread. Several regions reported higher metal prices due to tariffs. Both hardware and software technology costs increased. Insurance premiums and healthcare expenses continued to rise.

Tesla's stock opened sharply higher, surging as much as 8.36% during the session before closing up 7.62% at $391.95 per share.

Earlier, Elon Musk posted on his social platform X that the AI5 chip had reached a critical engineering milestone, bringing it closer to production.

Tesla also plans to collaborate with SpaceX to build two advanced chip factories in Austin, Texas—one for producing chips for vehicles and robots, and the other for chips used in orbital data centers. Intel recently joined the Tesla-SpaceX Terafab project.

On Tuesday, UBS upgraded Tesla's stock rating from "Sell" to "Hold" and raised its price target by approximately $1 to $352.