Nasdaq Hits Record As AI Stocks Surge, S&P and Dow Also Rise

Stock futures remained relatively unchanged on Monday evening after the Nasdaq Composite achieved a record high during the regular trading session. S&P 500 futures inched up 0.08%, and Dow futures rose by 57 points, or 0.1%. The Nasdaq-100 futures increased by 0.09%. The day's trading saw the Nasdaq Composite gain around 1% to hit an all-time high. The Dow Jones Industrial Average gained approximately 90 points, or 0.2%, and the S&P 500 added 0.7%. Notably, stocks associated with artificial intelligence, such as SpaceX, Nvidia, and Tesla, made significant gains, rising over 2% each. Meta Platforms and Microsoft, too, saw increases of over 1%.

In Asia, market optimism was apparent as indices were expected to open higher. Japan's Nikkei 225 futures indicated a rise, with figures of 70,195, compared to its prior close of 69,946.86. Hong Kong's Hang Seng index futures stood at 24,266, higher than its last close of 24,040.34. However, Mainland China markets remained closed due to a holiday. Meanwhile, oil prices decreased, with Brent crude futures dropping 1.9% and West Texas Intermediate crude down by 1.8%. The U.S. Treasury yields continued to rise, with the 10-year note surpassing 5.3% and the 30-year yield breaching 5.7%, reaching levels last seen 24 years ago.

Traders are keenly observing the Federal Reserve's upcoming minutes from its September meeting, set to release on Wednesday, which might reveal insights into future rate hikes. For investors, this matters because higher Treasury yields could influence borrowing costs and market valuations, while record highs in the Nasdaq may indicate strengthening tech stocks.