Nasdaq Hits Record High as Oil Prices Drop and Yields Ease
The Nasdaq Composite hit a record closing high of 27,122.09, powered by a massive surge in chipmakers like Intel and AMD amid expectations for US-China AI trade talks. While the tech rally coincided with a 4.7% drop in WTI crude and mixed Treasury yields, broader market moves also saw Novo Nordisk slump and Paramount Skydance fall following a legal settlement.
Yahoo! Finance Canada reports that the AI-driven rally was fueled by a 12% surge in Intel and Advanced Micro Devices reaching a $1 trillion market cap, while Trump-Xi diplomatic talks on AI and trade further bolstered sentiment. The sector leadership was capped by a sharp 8% decline in Novo Nordisk following its long-term growth update and a 2.9% drop in Paramount amid a multistate antitrust settlement.
Source: Yahoo! Finance Canadastl.news reports that Brent crude briefly dipped under $100 before settling at $100.34, driven by speculation that President Trump might meet Iran's President Pezeshkian during the U.N. General Assembly, while the 10-year Treasury yield settled near 4.95%.
Source: stl.newsThe Nasdaq composite reached an all-time high Monday while Brent crude fell 3.4% and 10-year Treasury yields slipped below 5%.
Source: Los Angeles Times
