S&P 500 Hits Record High as 10-Year Yield Falls to 5.29%
Updated
Updated · CNBC · Oct 5
S&P 500 Hits Record High as 10-Year Yield Falls to 5.29%
3 articles · Updated · CNBC · Oct 5
Summary
The S&P 500 climbed 0.5% to a fresh intraday record on Tuesday, while the Nasdaq also touched a new all-time high and the Dow rose 205 points.
Marvell jumped 7% and Nvidia and Broadcom gained about 1% each, extending the tech-led rally that had already pushed the Nasdaq 100 to a peak.
Treasury yields eased after Monday's surge, with the 10-year down 2 basis points to 5.29% and the 2-year off 3 basis points to 4.802%, helping steady equity sentiment.
Oil also retreated, with Brent down 2% to about $98 a barrel and WTI off 1% to roughly $87, easing one of the market pressures tied to the Middle East conflict.
Investors now turn to Wednesday's Fed minutes for clues on policymakers' recent rate increase after six weeks of volatile trading in bonds and equities.