US Stock Market - Nasdaq Index Closes at All-Time High, Investors Focus on Corporate Earnings
路透社2026/10/05 20:11Post-close Latest Developments PTC shares surged due to a takeover bid by Schneider Electric; traders see a decreased probability of an interest rate hike in October; bank earnings season is set to begin next week. Noel Randewich/Tharuniyaa Lakshmi, Reuters, October 5 – On Monday, the Nasdaq closed at a record high, driven by Nvidia and Microsoft, as investors focused on the drop in oil prices and anticipated the upcoming quarterly earnings reports. This marked the second consecutive day of significant gains for the Nasdaq, following weaker-than-expected employment data released on Friday, which weakened market expectations for a Federal Reserve rate hike at its policy meeting this month. Artificial intelligence giants Nvidia (NVDA.O) and Microsoft (MSFT.O) both saw their stock prices rise. Meta Platforms (META.O) and Tesla (TSLA.O) shares also advanced. Oil prices fell due to increased crude exports from the Middle East and a G7 commitment to boost supply. “With economic data releases relatively light and about a week until earnings season starts, investors are searching for any positive catalyst. Clearly, they are looking to the pullback in energy prices,” noted Art Hogan, Chief Market Strategist at B. Riley Wealth. Bank stocks to kick off third-quarter earnings season As major U.S. banks report earnings, the Q3 earnings season will officially begin next week. According to data from the London Stock Exchange Group (LSEG), analysts expect S&P 500 companies’ earnings to rise by over 30% year-on-year, mainly driven by strong performance from AI-related stocks. According to the CME FedWatch tool, following Friday’s data showing U.S. job growth in September slowed more than expected, traders now put the probability of a Federal Reserve rate hike at its October meeting at 24%, down from 70% a week earlier. Following Schneider Electric (SCHN.PA) agreeing to buy software company PTC (PTC.O) in an all-cash deal valued at $22.6 billions, PTC shares jumped on the news. Preliminary data showed the S&P 500 Index (.SPX) rose 51.50 points, or 0.67%, to close at 7,774.22; the Nasdaq Composite (.IXIC) climbed 289.42 points, or 1.06%, to 27,480.28; and the Dow Jones Industrial Average (.DJI) gained 94.59 points, or 0.18%, to finish at 51,274.32. The previous record high close for the Nasdaq occurred on September 22. Despite rising U.S. Treasury yields and higher oil prices due to U.S.-Iran tensions, optimism around strong corporate earnings has driven U.S. stocks to outperform global markets over the past six months. Freight forwarder C.H. Robinson Worldwide (CHRW.O) agreed to acquire transportation broker RXO (RXO.N) for $5.8 billions in a mixed stock and cash transaction. RXO shares rallied on the news, while C.H. Robinson shares fell. Cerebras Systems (CBRS.O) shares gained after OpenAI CEO Sam Altman said on social media that the chip design company is a “close partner” and that the two firms are “working together deeply on pushing the frontier of speed.”
Latest updates after close
Noel Randewich/Tharuniyaa Lakshmi
Reuters, October 5 - On Monday, the Nasdaq closed at a record high, boosted by NVIDIA and Microsoft, as investors focused on easing oil prices and anticipated upcoming quarterly earnings releases.
This marks the second consecutive day of strong gains for the Nasdaq, following weaker-than-expected employment data released on Friday, which dampened expectations for a Federal Reserve rate hike at this month's policy meeting.
Shares of artificial intelligence giants NVIDIA (NVDA.O) and Microsoft (MSFT.O) both rose.
Meta Platforms META.O and Tesla TSLA.O shares also gained.
Oil prices eased due to increased crude exports from the Middle East and the G7's pledge to boost supply.
“With a light economic data calendar and about a week until earnings season starts, investors are searching for any positive momentum, and clearly they are focusing on the pullback in energy prices,” said Art Hogan, chief market strategist at B. Riley Wealth.
Bank stocks to kick off Q3 earnings season
America's largest banks will announce earnings next week, officially opening the third quarter reporting season.
According to London Stock Exchange Group (LSEG) data, analysts on average expect S&P 500 component earnings to grow over 30% year-on-year, mainly driven by strong performance in AI-related stocks.
According to the CME's FedWatch tool, after Friday's jobs data showed a sharper-than-expected slowdown in US employment growth in September, traders now see a 24% probability of a Federal Reserve rate hike in October, down from 70% a week ago.
After France's Schneider Electric (SCHN.PA) agreed to acquire the software company (link) in an all-cash deal valued at $22.6 billion, PTC (PTC.O) shares surged.
Preliminary data showed the S&P 500 index .SPX rose 51.50 points, or 0.67%, to close at 7,774.22. The Nasdaq Composite .IXIC gained 289.42 points, or 1.06%, to finish at 27,480.28. The Dow Jones Industrial Average .DJI climbed 94.59 points, or 0.18%, to 51,274.32.
The previous record closing high for the Nasdaq was on September 22.
Despite rising US Treasury yields and higher oil prices amid tensions between the US and Iran, optimism about strong corporate earnings has driven US equities to outperform global markets over the past six months.
Freight forwarding company C.H. Robinson Worldwide CHRW.O agreed to acquire the transport broker (link) in a $5.8 billion stock-and-cash deal, boosting RXO RXO.N shares. C.H. Robinson CHRW.O shares fell.
Cerebras Systems (link) CBRS.O shares rose after OpenAI CEO Sam Altman stated on social media that the chip design firm is a “close partner” of OpenAI and they are “deeply collaborating to push the frontier of speed.”
(To facilitate non-native English readers, Reuters provides automated translations of its articles into various other languages. As automated translation may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of the automated translations. These are provided merely for the convenience of readers, and Reuters assumes no responsibility for any damage or loss caused by using the automated translation feature.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Bank of England's most hawkish official: The labor market is "stationary" rather than loose, and inflation is deeply entrenched.
The Bank of England hawkish official Mann stated that the labor market is "static" rather than loose, and warned that inflation is deeply entrenched; rising fuel and energy prices may cause inflation to "significantly exceed 4%" early next year.
BUZZ - Bank of America gives Diodes a "Buy" rating, driving its stock price up
October 6 - Semiconductor product manufacturer Diodes (DIOD.O) saw its stock price rise 3.38% in pre-market trading to $107.64. BofA has initiated coverage of DIOD with a “Buy” rating and a price target of $135, implying about 30% upside from the previous closing price. According to the report, DIOD holds a favorable position in the automotive, industrial, and AI data center semiconductor markets, positioning it to expand its market share. The increasing use of semiconductors in automobiles and growing demand for AI infrastructure are expected to drive the company’s long-term growth. The firm anticipates that DIOD’s AI data center business—which currently accounts for about 12% of total revenue—could triple by 2030. As of the previous trading day’s close, the stock’s year-to-date growth has already more than doubled. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. Automated translations may contain errors or lack context and are provided solely for the convenience of readers. Reuters accepts no liability for any damages or losses resulting from the use of automated translation features.)
BUZZ-BridgeBio shares rise as FDA initiates priority review for dwarfism drug
On October 6th, shares of pharmaceutical company BridgeBio Pharma (BBIO.O) rose 2.5% in pre-market trading to $67.80. The company announced that the U.S. Food and Drug Administration (FDA) has granted priority review to its application seeking approval for the investigational oral drug infigratinib for the treatment of children with achondroplasia, the most common type of dwarfism. The FDA has set a target decision date of February 4, 2027. The application is based on a late-stage clinical trial that met both primary and key secondary endpoints; children treated with infigratinib experienced an adjusted annual growth velocity 1.74 centimeters greater than those given placebo. The drug also improved arm span and body proportions in children under eight years old. No serious adverse events or discontinuations related to the drug were reported. BridgeBio plans to apply for European approval in the fourth quarter of 2026. As of the close of the previous trading day, BBIO shares are down 13.5% year-to-date. (For the convenience of non-English speakers, Reuters has automated this report into several other languages. Because automated translation may contain errors or lack required context, Reuters does not guarantee the accuracy of automated translation, which is provided for readers’ convenience only. Reuters accepts no liability for any damages or losses arising from the use of automated translation.)
Google (GOOGL.US) spends $4.3 billions on electricity, securing 3,590 megawatts of long-term energy from Constellation Energy (CEG.US).
Google has signed a 3,590 MW power purchase agreement with Constellation Energy, with a quarter of the electricity coming from nuclear power, involving an investment of $4.3 billion.
