Nasdaq Hits Record Close as 10-Year Yield Tops 5.34%
IXIC sits 33% above its 52-week low of $20,690.249.
Summary
The Nasdaq closed at a record 27,477, up about 1% from its September peak, while the 10-year Treasury yield touched a fresh 24-year high above 5.34%. The S&P 500 rose 0.7% and is less than 1% from an all-time high. Nvidia closed at a new all-time high for the first time since May, and the Magnificent Seven stocks hit a combined market cap record of $24.8 trillion. The simultaneous rise in stocks and bond yields reflects AI-driven earnings optimism offsetting inflation and rate concerns. This follows the Fed's September rate hike and a weak September jobs report, but today's session shows momentum continuing despite higher borrowing costs. Earnings season begins in several days with major bank reports, which will test whether the rally can persist.
At the time of this announcement, IXIC was trading at $27,477.31 on NASDAQ in the Technology sector. The 52-week trading range was $20,690.25 to $27,544.07. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.