Business Β· New York
Nasdaq Closes at a Record as Oil Prices Ease
In brief
US stocks closed higher on Monday, with the Nasdaq Composite finishing at a record high, as technology shares linked to artificial intelligence rallied and oil prices fell.
According to CNBC, the Nasdaq gained 1.05% to close at 27,477.31, beating its previous record set on September 22. The S&P 500 rose 0.66% to 7,773.95 and the Dow Jones Industrial Average added 0.18% to 51,267.90. Large technology companies such as Meta, Microsoft and Nvidia were among the gainers.
Oil prices fell after the G7 said it would release fuel reserves. Brent crude settled down 1.89% at $100.32 a barrel, and US West Texas Intermediate fell 1.8% to $89.43, CNBC and Sharecast News reported.
Government borrowing costs stayed high. Sharecast reported that the 10-year US Treasury yield rose to about 5.31%, after reaching its highest level in more than two decades last week. Investors are waiting for minutes from the Federal Reserveβs latest policy meeting, due on Wednesday, for clues about interest rates. Separate data showed the US services sector expanding strongly in September.
Why it matters
High Treasury yields push up borrowing costs for mortgages, car loans and businesses. Record stock prices alongside high yields show investors are betting strongly on tech profits despite expensive credit.
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Sources
- CNBC: Stock market news for Oct. 5, 2026
- Sharecast News via LSE.co.uk: US close: Stocks higher as falling crude offsets rising Treasuries
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