U.S. stocks and Treasury yields rise together as Nasdaq reaches record close

  • U.S. stocks rose as the Nasdaq Composite reached a record close, led by artificial-intelligence-related shares.
  • The 10-year Treasury yield surpassed 5.3%, its highest level since 2002, while the 30-year yield briefly exceeded 5.7%.
  • Federal Reserve September meeting minutes are due Wednesday as investors assess the outlook for interest rates and stocks.

U.S. stocks advanced as the Nasdaq Composite reached a record close, led by artificial-intelligence-related companies, even as long-dated Treasury yields climbed to multidecade highs. CNBC’s Jim Cramer said Nvidia, Microsoft and Meta were helping push stocks higher despite pressure across the broader market, making the bond market an important signal for stocks’ next direction. The Nasdaq gained roughly 1%, while the S&P 500 rose 0.7% and the Dow added about 90 points. Nvidia and Tesla gained more than 2% each, while Meta Platforms and Microsoft rose more than 1%. The 10-year Treasury yield surpassed 5.3%, its highest level since 2002, and the 30-year yield briefly exceeded 5.7%, also a 24-year high. Brent crude settled 1.9% lower at $100.32 a barrel and West Texas Intermediate fell about 1.8% to $89.43. Traders are awaiting minutes from the Federal Reserve’s September meeting, due Wednesday, for further indications on interest-rate policy.

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