Nasdaq Hits New Record as Wall Street Futures Rise
U.S. stock futures moved higher on Tuesday morning. The move extended the positive momentum from the previous session after the Nasdaq Composite reached a new record.
S&P 500 futures rose 0.25%. Dow futures gained 0.48%, while Nasdaq-100 futures increased 0.26%.
Nasdaq Reaches a New Record
During the previous regular trading session, the Nasdaq Composite gained around 1%. The move pushed the index to a new all-time high and a record closing level.
The S&P 500 also gained around 0.7%. Meanwhile, the Dow Jones Industrial Average rose about 90 points, or 0.2%.
Stocks linked to artificial intelligence, or AI, were among the main market drivers.
SpaceX surged more than 7%. Nvidia and Tesla each gained more than 2%. Meta Platforms and Microsoft also rose more than 1%.
Asian Markets Move in Different Directions
Asian stock markets moved in different directions on Tuesday.
Japan’s Nikkei 225 rose 0.29%. Australia’s S&P/ASX 200 gained 0.53%, while Hong Kong’s Hang Seng Index increased 0.95%.
South Korea’s Kospi, however, fell 0.23%. Mainland Chinese markets remained closed for the Golden Week holiday.
Treasury Yields Remain in Focus
Investors are also watching U.S. Treasury yields.
The 10-year Treasury yield moved back above 5.3%. The 30-year Treasury yield also briefly moved above 5.7%.
The bond market has experienced volatility in recent weeks. Factors attracting attention include Federal Reserve policy, economic growth, and oil prices amid the ongoing conflict in the Middle East.
Investors Await FOMC Minutes
The market’s next major focus is the Federal Reserve’s September meeting minutes.
The minutes are scheduled for release on Wednesday and could provide further insight into policymakers’ views on future interest-rate policy.
As a result, the Nasdaq, Treasury yields, and expectations for Federal Reserve policy remain key areas of focus for the next trading session.
