- The S&P 500 closed at a record high, extending gains for a fourth consecutive day, and the Nasdaq Composite also reached a new peak. The index traded up as much as 0.6% to 7817.13 points intraday, past the prior record of 7,816.7 set on August 13.
- Nvidia drove the rally, nearing a $6 trillion market capitalization, as investors positioned for Q3 earnings and expected large contributions from AI infrastructure names.
- Treasury yields dipped after recently hitting 24-year highs, and oil prices fell after reports that a key Saudi pipeline was operating normally.
Quotes
“The index rose as much as 0.6% to 7817.13 points, moving past the previous intraday record of 7,816.7 points it hit on August 13.”
“The S&P 500 closed at a record high, extending its gains for a fourth consecutive day, while the Nasdaq Composite also reached a new peak.”
“This market rally was largely driven by robust performance in technology stocks, with Nvidia nearing a $6 trillion market capitalization.”