Nasdaq hits record as dollar and Treasury yields climb, oil prices ease
QQQ•U.S. stocks rose, with the Nasdaq Composite gaining about 0.75% to a record and the S&P 500 up about 0.5%, as the dollar and Treasury yields climbed and oil prices eased.
1. U.S. stocks advance
U.S. equities rose Monday as megacap and growth stocks advanced. The Dow was little changed, the S&P 500 gained about 0.5%, and the Nasdaq Composite added about 0.75% to a record, supported by Nvidia, Meta Platforms and Microsoft.
2. Dollar and yields rise
The dollar index gained 0.25%, while the benchmark 10-year U.S. Treasury yield rose 4.68 basis points to 5.32%. The euro recovered to $1.121 after falling as much as 0.8% to a 17-month low of $1.1160, as concerns over France's debt and political gridlock weighed on the currency.
3. Rates and oil
Weaker-than-expected U.S. jobs data led investors to largely rule out a Federal Reserve rate increase this month; futures pricing put the chance at 18%, down from 64% a week earlier. Brent crude fell 0.44% to $101.78 a barrel, and U.S. crude declined about 0.5% to $90.68.
