US Stocks Hit Record High, Shrugging Off Bond Market Turmoil
AI optimism and strong earnings lifted technology stocks, while Nvidia’s 6% monthly gain helped push major indexes higher, analysts said.
- On Tuesday, Wall Street reached an all-time high of 7,830 points, marking its first intraday record in almost two months, while the Nasdaq Composite built on its Monday record close.
- Optimism surrounding the AI-related trade and strong corporate earnings lifted Tech stocks, fueled by Meta launching its Muse App last month, which jumped to #1 on the App store.
- Nvidia, up 6% this month, accounts for more than 8% of the benchmark index, helping drive the index's more than 14% gain this year toward a fourth consecutive double-digit year.
- Stocks across sectors received a boost Tuesday from falling Treasury yields and oil prices, though an equal-weight version of the benchmark index remains down more than 4% since mid-August.
- Ulrike Hoffmann-Burchardi, global head of equities at UBS, retains 'strong conviction in the AI-related growth story,' but warns that increasing concentration of market gains reinforces the importance of managing risk.
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US stocks hit record high, shrugging off bond market turmoil
By John Towfighi, CNN New York (CNN) — The artificial intelligence boom keeps rolling, sending stocks to record highs: The S&P 500 rose 0.7% on Tuesday and hit 7,830 points, an all-time high and its first intraday record high in almost two months. The S&P 500 would need to end the day with a gain
The three major US stock indices in New York started the day on an upward trend. The Standard & Poor's (S&P) 500 and Nasdaq indices hit new all-time highs. As of 9:52 a.m. on the 6th (local time), the Dow Jones 30 Industrial Average on the New York Stock Exchange (NYSE) recorded 51,580.25, up 312.35 points (0.61%) from the previous day. At the same time, the S&P 500 index was up 46.26 points from the previous day
Wall Street is dominated by three issues: rising bond yields, falling oil prices, and a group that is anticipating the trend.
Reformatorisch Dagblad
welingelichtekringen.nlNew York stock exchanges opened higher on Tuesday, causing the technology index Nasdaq to further sharpen the previous day's closing record. Investor sentiment on Wall Street was supported by, among other things, a decline in oil prices.
S&P 500 hits intraday record high as AI rally continues
Oct 6 (Reuters) - The benchmark S&P 500 index briefly hit an all-time high on Tuesday as optimism surrounding the AI trade and hopes of strong corporate earnings lifted technology stocks, further boosting the bull market that began in October 2022. T...
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