Nasdaq Hits Record High Amid Flat Stock Futures and Volatile Bond Market
Stock futures remained largely unchanged on Monday evening after the Nasdaq Composite reached a new record high during regular trading hours. The S&P 500 advanced by 0.7%, while the Dow Industrials rose about 90 points, or 0.2%. Tech stocks led gains with companies like SpaceX rising over 7% and Nvidia and Tesla increasing more than 2% each. Meanwhile, oil prices declined as Brent crude fell to $100.32 per barrel and West Texas Intermediate dropped to $89.43 per barrel. Treasury yields remained volatile, reaching multiyear highs with the 10-year note yield surpassing 5.3%. Market participants are closely watching Federal Reserve policy developments ahead of minutes from its September meeting due later in the week. Morgan Stanley's Lisa Shalett noted that while bond volatility has increased over six weeks, it hasn't yet reached levels seen during the 2022 bear market.
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Topics: artificial intelligence stocks Dow Jones Nasdaq Composite oil prices S&P 500 stock market Treasury yields