Nasdaq Hits Record High as Tech Lifts Markets Despite Yield Concerns
MarketsFN Team
Nasdaq Hits Record High as Tech Lifts Markets Despite Yield Concerns
The Nasdaq 100 surged 0.87% to a fresh record close of 31,076.44, leading U.S. equities higher as investors shrugged off rising Treasury yields and focused on strong tech momentum. The broader S&P 500 gained 0.66%, while the Dow lagged with a modest 0.18% advance amid mixed economic data.
🇺🇸 US Session Overview
Tech stocks powered the session, with the Nasdaq 100 outperforming major indices as AI optimism and a rebound in megacaps lifted sentiment. The S&P 500 closed at 7,773.95, supported by gains in communication services and consumer discretionary sectors. Small caps also participated, with the Russell 2000 rising 0.50% to 2,847.14, while the Dow underperformed due to weakness in industrials and financials.
Headlines highlighted SpaceX's stock surge and ongoing AI enthusiasm, offsetting concerns from Lucid's 6.7% delivery decline. Market breadth was positive, with advancing issues outpacing decliners by nearly 2-to-1 on the NYSE.
📅 Economic Calendar Highlights
The U.S. ISM Non-Manufacturing PMI slightly missed expectations at 54.9 (vs. 55.1 forecast), though prices paid jumped to 74.0, stoking inflation concerns. The S&P Global Services PMI edged higher to 58.8, while employment components showed modest improvement. Eurozone data was mixed, with Spain's services PMI beating at 58.3, while Italy disappointed at 51.7.
💱 FX & Commodities
The Dollar Index was mixed, with EUR/USD slipping 0.26% to 1.1221 while AUD/USD jumped 0.64% on commodity strength. Silver outperformed with a 2.38% surge to 61.40, while gold inched up 0.09%. Oil markets retreated sharply, with WTI crude falling 1.92% to 89.36 as demand concerns resurfaced. Cryptos dipped slightly, with Bitcoin down 0.84% at 85,755.18.
Looking ahead, Asian markets will digest tonight's U.S. moves amid light regional data. Traders await Friday's U.S. jobs report for fresh clues on Fed policy, while monitoring oil's pullback and tech momentum for continuation signals.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,773.95 | ▲ +51.23 | ▲ +0.66% |
| Nasdaq 100 | 31,076.44 | ▲ +268.51 | ▲ +0.87% |
| Dow Jones | 51,267.90 | ▲ +90.94 | ▲ +0.18% |
| Russell 2000 | 2,847.14 | ▲ +14.24 | ▲ +0.50% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1221 | ▼ -0.26% |
| GBP/USD | 1.3222 | ▲ +0.17% |
| USD/JPY | 157.98 | ▲ +0.03% |
| AUD/USD | 0.6973 | ▲ +0.64% |
| USD/CHF | 0.8307 | ▲ +0.02% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,166.20 | ▲ +0.09% |
| Silver (XAG/USD) | 61.40 | ▲ +2.38% |
| Crude Oil (WTI) | 89.36 | ▼ -1.92% |
| Brent Oil | 100.33 | ▼ -1.88% |
| Natural Gas | 3.07 | ▲ +1.19% |
| Bitcoin | 85,755.18 | ▼ -0.84% |
| Ethereum | 2,710.65 | ▼ -0.58% |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 13:45 | USD | S&P Global Services PMI (Sep) | 🔴🔴🔴 | 58.8 | 58.7 | 58.7 |
| 14:00 | USD | ISM Non-Manufacturing PMI (Sep) | 🔴🔴🔴 | 54.9 | 55.1 | 55.4 |
| 14:00 | USD | ISM Non-Manufacturing Prices (Sep) | 🔴🔴🔴 | 74.0 | 73.3 | 72.6 |
| 00:30 | JPY | S&P Global Services PMI (Sep) | 🟡🟡 | 51.3 | 51.6 | 52.5 |
| 06:00 | RUB | S&P Global Services PMI (Sep) | 🟡🟡 | 51.3 | 51.3 | |
| 07:00 | TRY | CPI (MoM) (Sep) | 🟡🟡 | 1.84% | 2.30% | 1.84% |
| 07:00 | TRY | CPI (YoY) (Sep) | 🟡🟡 | 29.73% | 30.30% | 31.51% |
| 07:15 | EUR | HCOB Spain Services PMI (Sep) | 🟡🟡 | 58.3 | 57.1 | 57.8 |
| 07:45 | EUR | HCOB Italy Services PMI (Sep) | 🟡🟡 | 51.7 | 54.6 | 55.2 |
| 07:50 | EUR | HCOB France Services PMI (Sep) | 🟡🟡 | 51.2 | 51.4 | 48.0 |
| 07:55 | EUR | HCOB Germany Services PMI (Sep) | 🟡🟡 | 52.9 | 52.9 | 49.7 |
| 08:00 | EUR | HCOB Eurozone Composite PMI (Sep) | 🟡🟡 | 53.1 | 53.1 | 52.0 |
| 08:00 | EUR | HCOB Eurozone Services PMI (Sep) | 🟡🟡 | 53.0 | 53.0 | 51.6 |
| 08:30 | GBP | S&P Global Composite PMI (Sep) | 🟡🟡 | 52.0 | 51.7 | 52.5 |
| 08:30 | GBP | S&P Global Services PMI (Sep) | 🟡🟡 | 52.1 | 51.7 | 52.5 |
| 13:45 | USD | S&P Global Composite PMI (Sep) | 🟡🟡 | 58.4 | 58.4 | 58.4 |
| 14:00 | USD | ISM Non-Manufacturing Employment (Sep) | 🟡🟡 | 50.1 | 48.8 | 47.8 |
| 07:45 | EUR | German Buba President Nagel Speaks | 🟡🟡 | — | ||
| 08:00 | EUR | ECB's Lane Speaks | 🟡🟡 | — | ||
| 09:00 | EUR | ECB's Schnabel Speaks | 🟡🟡 | — | ||
| 21:00 | NZD | NZIER Business Confidence (Q3) | 🟡🟡 | — | 8% |
Report published: October 05, 2026 — 22:20 CET
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