Nasdaq Leads US Stocks Higher as Tech Shares Offset Yield Pressure

The US stock market began October with gains across major benchmarks, as technology and software shares provided support in the face of rising Treasury yields and elevated oil prices.

The Nasdaq Composite rose 0.46% to 26,984.50, outperforming the S&P 500's gain of 0.25% to 7,670.93 and the Dow Jones Industrial Average's advance of 0.18% to 50,997.80 at opening bell.

Gains in tech shares led the charge, with Nvidia up 1.01%, Microsoft rising 0.85%, and Lam Research advancing 2.72%. Applied Materials also increased 3.71% and IBM rose 4.25%