Nasdaq Surges Past Records Despite Soaring Bond Yields – What’s Next?
A record close of 27,477.31 has been reached by the Nasdaq Composite, despite rising U.S. Treasury yields. Traders seem to be looking past these higher yields, with several tech stocks leading the way higher, including SpaceX, Meta Platforms, and Microsoft. Analysts suggest that tech is becoming an unstoppable juggernaut, with its high earnings-related growth and relatively low sensitivity to interest rates making it a safe haven. Meanwhile, bond yields have also advanced, with the 10-year Treasury note yield reaching a multiyear high. As investors digest new economic data, they now turn their attention to the Fed, which will release the minutes from its September meeting.
Tags/Hashtags: #nasdaq #finance #fed #inflation #nasdaq #microsoft #nvidia #tesla #spacex
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