{"id":72627,"date":"2026-10-05T17:08:17","date_gmt":"2026-10-05T21:08:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-rallies-push-nasdaq-to-record-highs-as-bond-yields-surge\/72627\/"},"modified":"2026-10-05T17:08:17","modified_gmt":"2026-10-05T21:08:17","slug":"tech-rallies-push-nasdaq-to-record-highs-as-bond-yields-surge","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-rallies-push-nasdaq-to-record-highs-as-bond-yields-surge\/72627\/","title":{"rendered":"Tech Rallies Push Nasdaq to Record Highs as Bond Yields Surge"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Nasdaq 100 hits a fresh record high<\/strong>, gaining <strong>0.9%<\/strong> to lead a broader technology-driven rally that pushed the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> within <strong>0.3%<\/strong> of its own all-time peak.<\/li>\n<li><strong>10-year Treasury yields advanced 4 basis points to 5.31%<\/strong>, reaching levels not seen since <strong>2002<\/strong> as markets weigh persistent inflation risks and a resilient U.S. economy.<\/li>\n<li><strong>WTI <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">crude oil<\/a> fell 2.1% to $89.20 a barrel<\/strong>, retreating on signs of improving global supply and the potential easing of Middle Eastern disruptions.<\/li>\n<li><strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) shares dropped 4%<\/strong> following reports that Elon Musk\u2019s <strong>Terafab<\/strong> initiative is in discussions with <strong>TSMC (<a href=\"\/stock\/TSM\">TSM<\/a>)<\/strong>, potentially challenging Intel&#39;s lead role in the project.<\/li>\n<li><strong>Brazilian assets rallied sharply<\/strong> as <strong>Fl\u00e1vio Bolsonaro<\/strong> emerged as the front-runner following the first round of the presidential election, outperforming previous polling.<\/li>\n<\/ul>\n<p>U.S. equity markets climbed on Monday, primarily fueled by a surge in major technology companies that helped investors look past rising borrowing costs. The <strong>Nasdaq 100<\/strong> reached a new peak, while the <strong>S&amp;P 500<\/strong> gained <strong>0.7%<\/strong>, closing at <strong>7,722.72<\/strong>. Market sentiment was bolstered by strong corporate earnings and continued heavy investment in <strong>Artificial Intelligence (AI)<\/strong>, which served as a counterweight to multi-decade highs in bond yields.<\/p>\n<p>The bond market sell-off intensified, with the <strong>10-year Treasury yield<\/strong> rising to <strong>5.31%<\/strong>. This move reflects a broad reassessment of the &quot;higher-for-longer&quot; interest rate environment as investors await the Federal Reserve&#39;s September meeting minutes. Despite the pressure from the &quot;risk-free&quot; rate, technology giants like <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<a href=\"\/stock\/NVDA\">NVDA<\/a>)<\/strong> rose <strong>2.1%<\/strong>, significantly contributing to the day&#39;s gains.<\/p>\n<p>In the energy sector, <strong>West Texas Intermediate (WTI)<\/strong> crude futures dropped <strong>2.1%<\/strong> to settle at <strong>$89.20<\/strong> per barrel. The decline was attributed to reports that supply disruptions in the Middle East may be easing, alongside a potential restart of the <strong>East-West pipeline<\/strong>. This retreat provided some relief to inflation-wary investors, even as energy costs remain elevated on a year-to-date basis.<\/p>\n<p>Corporate headlines were dominated by shifts in the semiconductor landscape. <strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong> shares faced pressure, falling more than <strong>4%<\/strong> after <strong>Elon Musk<\/strong> confirmed discussions with <strong>TSMC (<a href=\"\/stock\/TSM\">TSM<\/a>)<\/strong> regarding the <strong>Terafab<\/strong> chip manufacturing venture in Texas. While Intel joined the project in April, a potential partnership with TSMC\u2014the world\u2019s largest contract chipmaker\u2014could shift the project&#39;s operational control and manufacturing technology.<\/p>\n<p>Meanwhile, <strong>Cerebras Systems<\/strong> saw its shares rally as much as <strong>9.5%<\/strong> after <strong>OpenAI<\/strong> CEO <strong>Sam Altman<\/strong> publicly reaffirmed the company as a &quot;close partner.&quot; This followed a volatile week where the stock fell on rumors that OpenAI would favor <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> hardware for its latest models. Additionally, <strong>Hon Hai Precision Industry Co.<\/strong>, a key <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> partner, reported strong revenue figures, further signaling robust global demand for AI infrastructure.<\/p>\n<p>In international markets, the <strong>Euro<\/strong> fell <strong>0.3%<\/strong> to <strong>$1.1219<\/strong> amid fiscal concerns in the region. Conversely, Brazilian markets prepared for a significant rally after <strong>Fl\u00e1vio Bolsonaro<\/strong> secured <strong>47%<\/strong> of the vote in the first round of the presidential election. Investors responded positively to his pro-market platform, which includes promises of tighter public spending and privatizations.<\/p>\n<p>Finally, <strong>Consensus Cloud Solutions (<a href=\"\/stock\/CCSI\">CCSI<\/a>)<\/strong> disclosed in an SEC filing that it has entered into an amended and restated credit agreement. The deal provides a <strong>$225 million<\/strong> revolving credit facility and a <strong>$300 million<\/strong> delayed-draw term loan facility. The company intends to use the proceeds to retire existing notes by <strong>October 2027<\/strong>, with the new credit facility maturing on <strong>September 30, 2031<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Nasdaq 100 hits a fresh record high, gaining 0.9% to lead a broader technology-driven rally that pushed the 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