The Nasdaq Composite reached a record close of approximately 27,477 on October 5, marking a daily gain of 0.8–1.1%. The S&P 500 followed on October 6, hitting a peak between 7,830 and 7,840 points. This performance represents the 28th record high for the S&P 500 in 2026, contributing to a year-to-date increase of over 14%.
Growth was primarily driven by companies associated with artificial intelligence. Nvidia saw its stock rise by 1–2.2%, with its market capitalization approaching $6 trillion. Other major contributors included Meta, Microsoft, Tesla, and Broadcom. These gains occurred despite 10-year Treasury yields remaining elevated between 5.29–5.35%, the highest levels since the 2002–2007 period.
Market analysts highlight that corporate earnings growth for the upcoming quarter is projected at approximately 29.5% year over year, largely fueled by AI-related investments. Investors are now focused on whether these companies can meet such high expectations during the current earnings season and whether market participation will expand beyond the largest technology firms.
