Nasdaq Hits Record High as Tech and AI Stocks Surge

The Nasdaq Composite hit a new record high on Tuesday, October 6, 2026, rising 0.63% to 27,650.92 by 9:47 a.m. ET. The gain extended its recent upward trend, with the index climbing more than 1% on the previous day. Technology and artificial-intelligence stocks led the advance, while easing Treasury yields provided additional support for equities.

The Nasdaq's rise was fueled by optimism around AI, lower oil prices, and a decline in Treasury yields. Nvidia gained about 1.2%, pushing its market valuation closer to the $6 trillion mark. Other major tech stocks also saw gains, though Apple and Alphabet each fell around 0.2%. Investors are closely watching the Federal Reserve's interest-rate outlook, with a 78% probability of rates remaining unchanged this month, according to traders.

Treasury yields have been a key focus, as higher borrowing costs can pressure tech stocks. The 10-year Treasury yield fell 2.1 basis points to 5.28%, while the 30-year yield held steady at 5.66%. Lower energy prices also boosted market sentiment, with Brent crude down 1.7% to $98.62 per barrel and U.S. West Texas Intermediate crude falling 2.1% to $87.60.

AI remains a major driver for the Nasdaq, with Nvidia and AMD leading the charge. AMD rose nearly 1% after its CEO, Lisa Su, announced plans to increase chip supply in 2027 to meet AI demand. Investors are also preparing for the upcoming third-quarter earnings season, which begins next week, with analysts expecting S&P 500 earnings to grow over 30% year over year, largely due to AI-related companies.