S&P 500 and Nasdaq hit record highs as AI-driven tech stocks surge

The S&P 500 and the Nasdaq both closed at record highs, powered by another strong session for tech stocks and a dip in bond yields. The numbers behind the new peaks The Nasdaq Composite led the way on October 5. It closed at a record near approximately 27,477, a gain of about 0.8–1.1% on the day. The S&P 500 followed on October 6. During trading it touched approximately 7,830–7,840, clearing its prior peak of 7,816.7. That marks the index’s 28th record high of 2026. Year to date, the S&P 500 is up more than 14%. Artificial intelligence stocks did most of the work. Nvidia climbed approximately 1–2.2%, pushing its market value toward $6 trillion. Nvidia had company. Meta, Microsoft, Tesla, and Broadcom also added to the gains. Yields eased, but borrowing costs remain heavy The 10-year Treasury yield sat between 5.29–5.35%. Those are its highest levels since the 2002–2007 period. Inflation and fiscal worries also sat in the background, keeping overall sentiment mixed. Oil prices eased slightly, offering a bit of relief on the cost side. A rally built on a short list of names Gains have concentrated heavily in companies seen as AI beneficiaries. Because the S&P 500 and ...