{Economic Information Agency, 7th} US stock markets rose across the board on Tuesday (6th), with both the S&P and Nasdaq hitting new intraday and closing highs. Market sentiment was supported by falling U.S. Treasury yields and stabilized oil prices, while investor focus gradually shifts toward the upcoming third-quarter earnings season.
The Dow Jones closed up 253.38 points, or 0.49%, at 51,521.28; the S&P rose 44.98 points, or 0.58%, to 7,818.93, reaching an intraday high of 7,844.52; the Nasdaq gained 122.48 points, or 0.45%, to 27,599.79.
Markets showed strength early, with the S&P briefly rising to 7,844.52, setting a new intraday high; the Nasdaq continued its upward momentum from Monday (5th), reaching as high as 27,722.75 during the session. AI-related stocks remained the main market driver, with Nvidia shares hitting a new high, market capitalization approaching $6 trillion.
Among large-cap tech stocks, individual performances were mixed. SpaceX (US.SPCX) continued its recent rally, closing up 0.5%, Tesla (US.TSLA) up 0.5%, Nvidia (US.NVDA) up 0.1%, Meta (US.META) down 0.4%, Apple (US.AAPL) up 0.2%, Microsoft (US.MSFT) up 0.8%, Google (US.GOOG) up 0.2%, and Amazon (US.AMZN) up nearly 2%.
*U.S. 10-year yield retreats from highs*
The retreat in U.S. Treasury yields also helped ease pressure on high-valuation tech stocks. The U.S. 10-year Treasury yield declined from Monday's peak, prompting the market to reassess the Federal Reserve's potential for further rate hikes. Weaker-than-expected September employment data previously cooled market expectations for a rate hike in October.
*Dollar remains strong, yen pair hits 158.25*
On the dollar front, the U.S. Dollar Index rose as high as 102.28 early in the session, then retreated to around 101.83, down about 0.2% from the previous day. The dollar-yen pair remained strong, peaking around 158.25 and dipping to 157.77, closing near 158, up about 0.1% on the day. The euro rebounded after hitting a 17-month low, rising about 0.3% to around 1.126 against the dollar.
In commodity markets, oil prices moved in a narrow range, with Brent crude at $100.85 per barrel, up 0.5%; New York crude at $89.68, up 0.3%.
Gold prices remained range-bound at elevated levels. Spot gold rose about 0.8% to around $4,173 per ounce; New York futures rose about 1.1% to around $4,202 per ounce.
Markets are now gradually shifting focus to the third-quarter earnings season. Analysts expect S&P 500 constituents' third-quarter earnings to grow about 30% year-on-year, with energy and technology sectors expected to be the main growth drivers; AI-related investments and corporate earnings performance will be key to whether the market can sustain its upward momentum. (yc)
The Dow Jones closed up 253.38 points, or 0.49%, at 51,521.28; the S&P rose 44.98 points, or 0.58%, to 7,818.93, reaching an intraday high of 7,844.52; the Nasdaq gained 122.48 points, or 0.45%, to 27,599.79.
Markets showed strength early, with the S&P briefly rising to 7,844.52, setting a new intraday high; the Nasdaq continued its upward momentum from Monday (5th), reaching as high as 27,722.75 during the session. AI-related stocks remained the main market driver, with Nvidia shares hitting a new high, market capitalization approaching $6 trillion.
Among large-cap tech stocks, individual performances were mixed. SpaceX (US.SPCX) continued its recent rally, closing up 0.5%, Tesla (US.TSLA) up 0.5%, Nvidia (US.NVDA) up 0.1%, Meta (US.META) down 0.4%, Apple (US.AAPL) up 0.2%, Microsoft (US.MSFT) up 0.8%, Google (US.GOOG) up 0.2%, and Amazon (US.AMZN) up nearly 2%.
*U.S. 10-year yield retreats from highs*
The retreat in U.S. Treasury yields also helped ease pressure on high-valuation tech stocks. The U.S. 10-year Treasury yield declined from Monday's peak, prompting the market to reassess the Federal Reserve's potential for further rate hikes. Weaker-than-expected September employment data previously cooled market expectations for a rate hike in October.
*Dollar remains strong, yen pair hits 158.25*
On the dollar front, the U.S. Dollar Index rose as high as 102.28 early in the session, then retreated to around 101.83, down about 0.2% from the previous day. The dollar-yen pair remained strong, peaking around 158.25 and dipping to 157.77, closing near 158, up about 0.1% on the day. The euro rebounded after hitting a 17-month low, rising about 0.3% to around 1.126 against the dollar.
In commodity markets, oil prices moved in a narrow range, with Brent crude at $100.85 per barrel, up 0.5%; New York crude at $89.68, up 0.3%.
Gold prices remained range-bound at elevated levels. Spot gold rose about 0.8% to around $4,173 per ounce; New York futures rose about 1.1% to around $4,202 per ounce.
Markets are now gradually shifting focus to the third-quarter earnings season. Analysts expect S&P 500 constituents' third-quarter earnings to grow about 30% year-on-year, with energy and technology sectors expected to be the main growth drivers; AI-related investments and corporate earnings performance will be key to whether the market can sustain its upward momentum. (yc)
