U.S. Stocks Flirt with a Record After Oil Prices Ease
- On Tue, Oct 6, the S&P 500 hit a new intraday record, driven by optimism surrounding the artificial intelligence trade and expectations of strong corporate earnings.
- Technology stocks propelled the market, furthering a bull market that began in Oct 2022, according to The Wall Street Journal.
- Chipmakers served as a key engine for the rally, with Marvell Technology surging 7%, while Nvidia and Broadcom also posted gains of roughly 1% apiece.
- Treasury yields eased, slipping to 5.29%, while Brent crude fell to trade below $98 a barrel and West Texas Intermediate dropped to around $87.
- Attention turns to the Federal Reserve's September meeting minutes, set for release Wednesday, which may provide insight into policymakers' latest rate increase.
16 Articles
16 Articles
The S&P 500 index hits the new intraday historical peaks in Wall Street trading, rising by 0.65%, to 7.824.51 points, supported by the rise in major technological securities and the fall in oil prices and Treasury bond yields. (ANSA)
The mood on the world's stock markets is good, the US stock markets closed higher yesterday, gains were seen in Asia this morning, and European indices are also in the red. Investors are focused on global bond yields and oil prices, US yields are falling today, and oil prices are also heading downwards. The rise on the US stock markets continues today in the minutes after the opening, the S&P 500 and Nasdaq reached new highs, and Nvidia is withi…
US stocks: S&P 500, Nasdaq hit records as easing yields and oil fuel AI rally
On Tuesday, the S&P 500 index reached an all-time high, reflecting optimism in artificial intelligence among investors. This rise was also supported by expectations of strong earnings reports from corporations in the following weeks. Additionally, the tech-heavy Nasdaq composite index was trading at record highs during the same period. Despite concerns about energy prices and volatile bond markets, major stocks continue to perform well.
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