S&P 500, Nasdaq touch new peaks as Treasury yields cool, oil slips
SPY•The S&P 500 and Nasdaq hit record highs as Treasury yields eased and oil prices fell. By 9:47 a.m. ET, the Dow was up 0.48%, the S&P 500 0.56% and the Nasdaq 0.63%.
1. Indexes reach records
The S&P 500 and Nasdaq hit record highs Tuesday as Treasury yields eased from multi-year highs and oil prices fell, with investors looking ahead to quarterly earnings. The 10-year Treasury yield dipped 2.1 basis points to 5.28%, while the 30-year yield held at 5.66%.
2. Stocks and oil move
At 9:47 a.m. ET, the Dow rose 0.48%, the S&P 500 gained 0.56% and the Nasdaq Composite advanced 0.63%. Oil prices fell more than 2% as resilient Middle Eastern crude exports and a G7 emergency stockpile release eased supply concerns.
3. Company developments
Nvidia climbed 1.2%, while AMD rose almost 1% after CEO Lisa Su said the company planned to substantially increase chip supply in 2027. Constellation Energy gained 12.9% after Google entered a 3,590-megawatt power deal with the company. The third-quarter earnings season starts next week, and analysts expect S&P 500 earnings to rise more than 30% year over year, largely thanks to AI-related stocks.
