Nasdaq Hits Record High as Tech and AI Shares Surge

The Nasdaq Composite hit a new all-time high on Monday, 5 October 2026, as US stocks rallied. The index gained 1.05%, closing at 27,477.31, driven by strong performance in technology and AI-linked shares. Nvidia led the charge with a 2.06% increase, while Microsoft and Meta Platforms also saw gains of 1.45% and 1.88%, respectively. This marks the second consecutive session of sharp gains for the Nasdaq.

The broader market showed mixed results. The Dow Jones Industrial Average added 90.94 points, or 0.18%, to close at 51,267.90. The S&P 500 advanced 0.7%, with materials and tech sectors leading the gains. The Russell 2000, representing smaller stocks, gained 0.60%, though it lagged behind the Nasdaq due to higher borrowing costs and a strong US dollar.

The market's performance was influenced by weakening Federal Reserve rate-hike expectations following soft jobs data, as well as a global bond sell-off that kept Treasury yields near multi-year highs. Despite elevated yields and high crude oil prices, investors focused on the earnings potential of AI-related companies, driving the Nasdaq's record close.

Notable movers included PTC, which surged 33.57% following its acquisition by Schneider Electric, and C.H. Robinson Worldwide, which plummeted 10.85% after announcing a $5.8 billion acquisition of RXO. The Philadelphia Semiconductor Index gained 0.27%, with Nvidia and Broadcom among the top performers, while Intel and QCOM saw declines.