Nasdaq Hits Record High as Tech Stocks Surge

The Nasdaq Composite index hit a new all-time high on Monday, driven by strong gains in technology and artificial intelligence stocks. The index reached a peak of 27,544.06 before closing at 27,477.31, up 1.05% or 286.45 points. Tech giants like Nvidia, Tesla, Microsoft, Alphabet, Meta, and Broadcom all contributed to the rally with gains ranging from 1% to over 2%. SpaceX also saw an 8% surge following reports of its plans to build a natural gas pipeline in Florida.

Despite the Nasdaq's strong performance, investors remained cautious in other market segments due to rising 10-year and 30-year Treasury yields, which hit their highest levels since 2002. The 10-year yield climbed to 5.33%, raising concerns about economic conditions and inflation. While the Dow Jones and S&P 500 also saw gains, closing at 51,267.90 and 7,773.95 respectively, the market's outlook remains uncertain amid persistent bond selling pressure and geopolitical risks.

Looking ahead, US stock futures on October 6, 2026, showed positive momentum with the Dow Jones futures up 69 points, S&P 500 futures up 6 points, and Nasdaq 100 futures up 20.75 points. The week will also see major quarterly earnings reports from companies like Apogee Enterprises Inc., Constellation Brands Inc., and others. Ponmudi R, CEO of Enrich Money, noted that geopolitical risks, particularly in the Middle East, could impact market sentiment and crude prices.

The near-term fundamental outlook is cautiously constructive, with easing crude prices and improving global risk sentiment providing support. However, persistent geopolitical uncertainty and potential disruptions to energy and shipping routes could keep investors on edge.