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US STOCKS SNAPSHOT-Nasdaq Hits Intraday Record High as Tech Stocks Regain Footing
Driven by chipmaker AMD's $1 trillion valuation and falling oil prices, the tech-heavy Nasdaq Composite surpasses its previous intraday record.
- On Tuesday, the Nasdaq Composite reached an intraday record for the first time since early June as technology stocks surged and oil's retreat lifted investor appetite for risk.
- Falling oil prices to a two-week low eased global supply concerns after Iran signaled it could reopen the Strait of Hormuz soon, boosting market sentiment worldwide.
- Meta edged up 0.5% as investors bet on its new AI agent Muse, while Chipmaker AMD topped $1 trillion in market valuation on Monday, with advancing issues outnumbering decliners 1.78-to-1 on the Nasdaq.
- US-Iran talks are scheduled at the United Nations General Assembly with a US-China summit to follow on Thursday, while traders price a 53.1% probability the Federal Reserve raises rates by 25 basis points in October.
- Global market strategist Lale Akoner said "markets are really seeing oil as the key macro variable here," while Boston Fed President Susan Collins backs rate hikes to manage inflation risks above the 2% target.
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14 Articles
14 Articles
SNAPSHOT Nasdaq hits intraday record high as tech stocks regain footing
·London, United Kingdom
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Coverage Details
Total News Sources14
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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