Stories
SP 500 and Nasdaq Hit Record Highs as Treasury Yields and Oil Prices Fall
- •The S&P 500 and Nasdaq Composite both hit fresh intraday record highs as lower oil prices and easing Treasury yields boosted investor sentiment.
- •Chipmakers led technology sector gains, with Advanced Micro Devices rising 2% and Nvidia and Broadcom climbing about 1% each.
- •The benchmark 10-year Treasury yield fell 5 basis points to 5.256% following a sharp rise to levels not seen since 2002.
- •Brent crude fell about 2% to around $98 a barrel, and West Texas Intermediate futures dropped 2% to roughly $87 a barrel.
- •Investors are awaiting the minutes from the Federal Reserve's September meeting for further clues on monetary policy and interest rates.
Key Questions Answered
US stocks opened higher on Tuesday, October 6, with the S&P 500 hitting a fresh intraday record and the Nasdaq Composite advancing 0.6% to reach a record intraday high. The Dow Jones Industrial Average also gained 189 points, or 0.4%.
The benchmark 10-year Treasury yield fell 5 basis points to 5.256%, while the 30-year yield declined more than 3 basis points to 5.625%. Additionally, Brent crude fell about 2% to around $98 a barrel and West Texas Intermediate futures declined to roughly $87 a barrel.
Chipmakers led the technology sector gains, with Advanced Micro Devices rising 2% while Nvidia and Broadcom each gained around 1%. Major technology names like Nvidia, Meta Platforms, and Amazon drove the advance as investors continued to favor artificial intelligence beneficiaries.
