Nasdaq Rises 0.60% as S&P 500 Hits Record High In Opening Session on AI Rally

Mumbai, Oct 6: US stocks opened higher on Tuesday, with the Nasdaq Composite rising 0.60% to 27,642.85, the S&P 500 gaining 0.60% to 7,820.39 and the Dow Jones Industrial Average advancing 0.60% to 51,575.10 as of around 9:50-9:51 a.m. EDT. The Nasdaq and S&P 500 reached fresh all-time intraday highs, extending the technology-led advance seen at the start of the week. 

The opening gains came as Treasury yields eased from multi-year highs and crude oil prices moved lower, while technology and semiconductor stocks continued to benefit from optimism around artificial intelligence infrastructure and expectations for corporate earnings. Nvidia, Microsoft, Broadcom and other major technology companies traded higher, while several energy and technology stocks recorded sharp moves in both directions. 

Nasdaq Climbs 0.60% To Record Opening Levels 

The Nasdaq Composite opened at 27,641.17, compared with its previous close of 27,477.31, and moved within a day range of 27,613.54 to 27,677.46 during the opening period. At 27,642.85, the index was up 165.54 points, or 0.60%. 

The move extended the Nasdaq’s record-setting run after the technology-heavy index reached an all-time high and closed at a record level on Monday. The index’s 52-week range stands at 20,690.25 to 27,677.46, with Tuesday’s early high matching the upper end of that range. 

The Nasdaq’s advance was supported by gains across several large technology companies. Nvidia rose 1.06%, Microsoft gained 1.12%, Broadcom advanced 1.64%, Palantir Technologies climbed 1.88%, Cisco Systems increased 1.02%, and Marvell Technology rose sharply during the session. Amazon added 0.60%, while Tesla gained 0.20%. 

The broader technology group was mixed, however. Apple declined 0.26%, Alphabet’s Class A shares fell 0.42%, Alphabet’s Class C shares declined 0.49%, and Intel slipped 0.42%. Lam Research dropped 2.00%, Applied Materials declined 1.70%, and Seagate Technology fell 6.22%. 

The movement showed that the opening advance was concentrated in several major technology and artificial intelligence-linked names rather than being uniform across all Nasdaq constituents. 

S&P 500 Gains 0.60% As Index Sets Fresh High 

The S&P 500 opened at 7,805.96, against a previous close of 7,773.95, and climbed to an early high of 7,821.00. At 7,820.39, the index was up 46.44 points, or 0.60%, and was trading at a fresh all-time intraday level. 

The index’s 52-week range is 6,316.91 to 7,821.00, putting Tuesday’s early high at the top of that range. The opening advance followed Monday’s strong performance, when the S&P 500 finished close to its previous closing record. 

Technology stocks were among the key contributors to the move. Nvidia gained 1.12%, Microsoft rose 1.33%, Broadcom advanced 1.81%, Palantir climbed 2.39%, Oracle increased 1.45%, and Dell Technologies gained 5.05%. Palo Alto Networks rose 5.53%, while CrowdStrike advanced 4.59%. 

Several industrial and healthcare stocks also moved higher. Caterpillar rose 2.00%, General Electric gained 1.23%, GE Vernova climbed 4.85%, Eli Lilly advanced 2.10%, Thermo Fisher Scientific increased 1.53%, and Danaher rose 1.93%. 

The gains were partly offset by declines in selected technology, communications and energy names. Seagate fell 5.48%, Western Digital declined 5.16%, and Lam Research dropped 1.91%. Alphabet fell 0.43%, Alphabet’s Class C shares declined 0.58%, Meta Platforms slipped 0.33%, and Verizon fell 0.83%. Exxon Mobil declined 0.24%, while Chevron fell 0.49%. 

Dow Rises 0.60% as Industrials Add to Opening Gains 

The Dow Jones Industrial Average opened at 51,444.10, compared with its previous close of 51,267.90, and reached an early high of 51,586.77. At 51,575.10, the index had gained 307.20 points, or 0.60%, during the opening session. 

The Dow’s 52-week range is 45,057.28 to 54,744.33. Gains were supported by several major constituents, including Microsoft, which rose 1.33%, Nvidia, which gained 1.12%, and Cisco Systems, which increased 1.17%. 

Industrial stocks also contributed. Caterpillar rose 2.00%, while Goldman Sachs advanced 0.80% and American Express gained 0.85%. JPMorgan Chase added 0.63%, Walmart gained 0.45%, Procter & Gamble rose 1.25%, and Merck climbed 1.60%. 

The move was not broad across every Dow component. Boeing declined 1.05%, Nike fell 0.47%, Chevron dropped 0.49%, Apple slipped 0.28%, and McDonald’s declined 0.10%. Salesforce was down 0.13%, while UnitedHealth Group gained 0.48%. 

The Dow’s advance therefore combined gains in technology, industrial, financial, healthcare and consumer companies, with declines in selected aviation, energy, consumer and technology stocks. 

Also Read: How to invest in US stocks  

Nvidia Gains 1% as Market Value Nears $6 Trillion 

Nvidia continued to attract attention in Tuesday’s opening session, with its shares rising more than 1% after the company posted another strong move on Monday. Nvidia had recorded its second consecutive intraday high on Monday and its first closing record since May. 

The company’s market capitalisation was approaching $6 trillion, placing Nvidia at the centre of the technology rally. Its shares were also supported by broader expectations for continued demand for artificial intelligence infrastructure. 

The movement in Nvidia was reflected across other semiconductor and technology companies. Broadcom rose 1.64% on the Nasdaq and 1.81% in the S&P 500 heatmap, while Advanced Micro Devices gained 0.51% on the Nasdaq and 0.81% in the S&P 500. 

Advanced Micro Devices shares also rose after analysts raised their price target for the company to $800 from $575, implying potential upside of 27% from Monday’s closing price. The analysts said the central processing unit market could reach $300 billion by 2030, citing increasing computing demand associated with artificial intelligence applications. 

Marvell Rises as $20 Billion Revenue Outlook Beats Estimates 

Marvell Technology was among the strongest major technology stocks during the opening session after providing a long-term revenue outlook at its Investor Day. The company expects fiscal 2028 revenue to reach approximately $20 billion, compared with an analyst consensus estimate of $18.17 billion. 

Marvell also expects fiscal 2031 revenue to be between $70 billion and $90 billion, compared with an analyst consensus estimate of $47.04 billion. Its shares rose sharply after the outlook was released, with the stock up more than 7% in early trading in the supplied market data and later trading at $294.47, up $23.22, or 8.56%, at 9:55 a.m. EDT. The latest move put its year-to-date gain above 242%. 

Marvell’s movement added to the broader semiconductor advance, although other chip-related companies moved lower. Seagate declined more than 5%, Western Digital fell more than 5%, and Lam Research dropped about 2%. 

Constellation Energy Surges 12% After Google Nuclear Deal 

Constellation Energy recorded one of the sharpest gains among major S&P 500 companies, rising 12.43% in the Nasdaq 100 heatmap and 14.33% in the wider stock market data to $305.98, up $38.36. 

The move followed a 20-year power purchase agreement between Constellation Energy and Google. Under the agreement, Constellation will bring 890 megawatts of new nuclear capacity to the PJM Interconnection grid to meet rising electricity demand and support grid reliability. 

Google will also purchase power connected with the new nuclear capacity, while a separate agreement covers 2,700 megawatts of supply. The arrangements are expected to support more than $4.3 billion of new investment by Constellation. 

The agreement also includes the use of Google Cloud and Gemini Enterprise by Constellation to develop an artificial intelligence-based framework for grid operations. The companies said the initiative is intended to reduce infrastructure costs, improve performance, support electricity generation and protect grid reliability. 

Before Tuesday’s session, Constellation Energy shares had fallen 24% in 2026. Alphabet shares were up about 11% for the year before the opening and moved slightly lower during the session. 

Also Read: US Stock market timings  

Treasury Yields Ease After Reaching Multi-Year Highs 

The opening rise in equities came as US Treasury yields eased after reaching levels not seen in decades. The benchmark 10-year Treasury yield was around 5.29%, down nearly two basis points from Monday’s close after briefly moving above 5.35% in the previous session. 

The 10-year yield had reached its highest level since April 2002, while the 30-year Treasury yield had climbed to its highest level since 2002. The 30-year yield later eased to around 5.62% after reaching 5.702% in the previous session. 

The two-year Treasury yield also declined, falling about 3 basis points to 4.802%. The easing in yields came after a global government bond sell-off had pushed borrowing costs in major economies to multi-year highs. 

European government bond yields also moved lower on Tuesday. The German 10-year Bund yield declined by 5 basis points, while France’s 10-year yield fell by 9 basis points. Japan’s 10-year yield declined by 1 basis point. 

The recent rise in long-term borrowing costs has been linked in the supplied reports to concerns around inflation, fiscal deficits, economic growth and uncertainty surrounding future monetary policy. 

Oil Prices Fall as Supply Concerns Ease 

Crude oil prices also moved lower during Tuesday’s opening session, providing another factor accompanying the rise in US equities. 

Brent crude futures declined by about 2% to around $98 a barrel, while West Texas Intermediate futures fell roughly 1% to around $87 a barrel. Other market data showed WTI down approximately 1.7% below $88 a barrel, while Brent was around 2.4% lower at approximately $98. 

The decline followed an increase in tanker shipments through the Strait of Hormuz, which helped ease some supply concerns. At the same time, attacks by Iran-backed Houthi rebels on Saudi targets remained an issue being monitored by markets. 

The lower oil prices came alongside the decline in Treasury yields, while technology shares continued to benefit from expectations surrounding artificial intelligence infrastructure and the upcoming corporate earnings season. 

US Trade Deficit Widens to $105.6 Billion In August 

The US trade deficit widened to $105.6 billion in August, according to the Commerce Department, exceeding the $102 billion expected by economists. 

The August deficit was the largest since March 2025, when the shortfall reached $132.98 billion. The increase came as trade data remained an important part of the economic backdrop following the introduction of sweeping US tariff measures in the previous year. 

The US dollar index also fell during Tuesday’s session. It reached 101.754, its lowest level since 2 October, when it touched 101.668, before trading around 101.85, down approximately 0.3%. 

The movement in the dollar came as Treasury yields eased and US stocks continued to trade at elevated levels. 

Fed Minutes Due Wednesday After Rate-Hike Debate 

Attention is also turning towards the Federal Reserve’s minutes from its September Federal Open Market Committee meeting, scheduled for release on Wednesday at 2 p.m. EDT. 

The minutes are expected to provide details of policymakers’ discussions following the mid-September rate hike and could show how officials assessed the future path of monetary policy. 

Market pricing showed a 78% probability of the Federal Reserve keeping rates unchanged at its October meeting after weaker-than-expected payrolls data reduced expectations of an immediate further increase. 

The supplied market updates also noted that a December rate increase remained largely priced in, while several Federal Reserve officials were expected to speak during the period. 

The policy discussion comes against a backdrop of elevated long-term borrowing costs, with the 10-year Treasury yield near 5.29% and the 30-year yield above 5.60%. 

Also Read: US Stock Market Timings 

Wall Street Profits Reach $49.5 Billion In Six Months 

Wall Street firms also reported a strong first half of 2026, with profits at New York Stock Exchange member firms rising 51% year-on-year to $49.5 billion in the first six months of the year. The figure was already $4.2 billion above the full-year profit level that New York City officials had projected for 2026. If the pace continued, securities industry profits could exceed $90 billion, compared with a record $65 billion in 2025. Securities firms spent 19% more during the first half than in the same period of 2025, while the industry generated an estimated $7.8 billion in tax revenue for the city’s fiscal year ended 30 June. 

The strong first-half performance also has implications for New York’s public finances. The securities industry accounted for nearly one-quarter of the city’s personal income tax collection, while the city’s earlier projections had anticipated a 30% decline in industry profits during 2026. 

Option Care Health Jumps 32.86% On $5.8 Billion Deal 

Option Care Health was the strongest gainer in the supplied stock market data, with its shares rising 32.86% to $31.05, an increase of $7.68. 

The move followed an agreement under which McKesson Corporation and private equity firm Clayton, Dubilier & Rice will acquire the home infusion provider. The transaction has an enterprise value of approximately $5.8 billion, with the buyers agreeing to pay $32.05 per share in cash. 

At completion, Clayton, Dubilier & Rice will hold a majority ownership interest and McKesson will hold a minority interest. Option Care Health will continue as a separate company with its existing management team. 

The transaction is linked to McKesson’s strategy of increasing exposure to specialty and outpatient care as more complex treatments move outside hospitals. 

Other Stocks Show Sharp Moves at Tuesday Open 

The opening session also produced significant moves outside the largest technology companies. Among the biggest gainers, Corteva rose 10.37%, AST SpaceMobile increased 8.85%, Vistra gained 9.99%, Talen Energy advanced 9.16%, Securitize rose 8.81%, Netskope gained 8.22%, and Azenta increased 7.59%. 

Planet Labs rose 6.97%, BWX Technologies gained 7.92%, BlackBerry advanced 6.50%, Astera Labs increased 7.20%, Lamb Weston climbed 6.56%, Oklo gained 6.11%, Freshworks advanced 6.01%, NRG Energy increased 7.37%, Zscaler gained 5.66%, Nebius Group rose 6.20%, and Rocket Lab increased 5.72%. 

The session also featured several significant declines. Vaxcyte fell 11.86%, Spyre Therapeutics declined 9.86%, TORM dropped 5.43%, C.H. Robinson Worldwide fell 4.44%, ServiceTitan declined 3.64%, Dorian LPG fell 3.54%, Ero Copper declined 3.90%, Tenaris fell 4.07%, and AutoNation declined 2.74%. 

Oceaneering International dropped 3.47%, Patterson-UTI Energy declined 4.11%, Darling Ingredients fell 3.25%, Enliven Therapeutics declined 3.94%, BW LPG fell 3.14%, F&G Annuities & Life declined 3.32%, Skyworks Solutions fell 3.87%, Peabody Energy declined 3.33%, Star Bulk Carriers fell 2.86%, Pinterest dropped 3.07%, Frontline declined 3.01%, and Kymera Therapeutics fell 3.16%. 

Google Deal Lifts Energy Shares as AI Demand Grows 

The agreement between Google and Constellation Energy highlighted the growing connection between artificial intelligence expansion and electricity demand. Google agreed to purchase 890 megawatts of nuclear power under the 20-year arrangement, while a separate agreement covers 2,700 megawatts of supply. 

Constellation Energy also plans to use Google’s artificial intelligence and cloud technology to support the development of its grid operations. The company expects the arrangement to support more than $4.3 billion in new investment. 

The announcement lifted Constellation shares sharply during Tuesday’s opening session, while Alphabet shares remained close to flat after an initial gain before the market opened. 

Also Read: What Are Fractional Shares? 

Earnings Season and AI Keep Markets Near Records 

The opening session came as markets moved towards the next corporate earnings season, with artificial intelligence remaining a central theme in the technology sector. 

The supplied reports said US stocks had continued to advance despite elevated long-term borrowing costs and higher energy prices. Technology shares remained supported by expectations surrounding artificial intelligence demand, while recent company announcements provided additional developments across semiconductors, energy and healthcare. 

Nvidia remained close to a $6 trillion market capitalisation, Marvell’s long-term revenue outlook exceeded analysts’ estimates, and Google announced a major nuclear power agreement with Constellation Energy to support rising electricity requirements. 

The broader market also received support from lower Treasury yields and falling crude prices during Tuesday’s opening session. Against this backdrop, the S&P 500 and Nasdaq both reached new intraday records, while the Dow also advanced. 

The opening session on 6 October 2026 saw the Nasdaq Composite, S&P 500 and Dow Jones Industrial Average each gain about 0.60%, while the Nasdaq and S&P 500 reached fresh intraday records. Treasury yields and crude prices moved lower, while artificial intelligence, semiconductor, energy and corporate deal activity remained prominent market themes. 

Source 

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