Stories
US Stocks Surge as AI Shares Gain, Treasury Yields Climb, and Jobless Claims Fall
- •US stocks opened higher on Thursday, October 1, with the Dow Jones, S&P 500, and Nasdaq Composite all posting gains.
- •Technology and AI-related shares drove the market up, supported by strong quarterly revenue from Micron Technology, which quadrupled.
- •Micron CEO Sanjay Mehrotra announced plans to increase worker pay following record performance, potentially impacting margins.
- •Treasury yields surged, with the 10-year US Treasury yield reaching 5.342%, its highest level since April 2002, and the 30-year yield at 5.663%.
- •US initial jobless claims fell for the fourth consecutive week to 197,000, indicating continued stability in the labor market.
Key Questions Answered
US stocks opened higher on Thursday, October 1, 2026, as gains in AI and technology shares helped offset pressure from rising Treasury yields. The Dow Jones Industrial Average and the S&P 500 each rose 0.2%, while the tech-heavy Nasdaq Composite advanced 0.3% in early trading.
Technology stocks received strong support following Micron Technology's robust quarterly results, which showed that its quarterly revenue quadrupled and beat Wall Street estimates. This performance lifted sentiment across chipmakers and AI-related companies, driven by continued strength in data-centre demand.
The 10-year US Treasury yield climbed to an intraday high of 5.342%, surpassing its June 2007 level of 5.328% to reach its highest point since April 3, 2002. Additionally, the 30-year Treasury yield stood at 5.663% following the worst quarter for the Treasury market in decades.
