S&P 500, Nasdaq reach record closing highs as focus pivots to earnings
By Stephen Culp and Tharuniyaa Lakshmi
Tue October 6, 2026
With more oil flowing from the Middle East and also the Group of Seven nations, the price of crude has been easing and that has triggered an easing in Treasury yields as well, all good news on the inflation front. This created another very nice rally today with another rounds of impressive 3-digit gains in both industrials and tech. The concerns that have been haunting investors in recent weeks (and some might say even months) have begun to abate.
AI continues to be lively and with inflation anxiety easing, focus is shifting to Q3 earnings next week for which there is abundant optimism. The odds of an October hike continue to diminish. On the negative side, the trade deficit has reached 13.7% mainly due to a record rise in imports which stands at 28.4% annualized. Q3 S&P earnings growth is projected at 30.6% vs 30% Monday, powered mostly by a 114.7% surge in energy and 66.5% growth in tech. 16.6 billion shares were traded vs a 17.5 average as the markets await Q3.
DJ: 51,267.90 +90.94 NAS: 27,477.31
+286.45 S&P: 7,773.95
+51.23 10/5
DJ: 51,521.28 +253.38 NAS: 27,599.79
+122.48 S&P: 7,818.93
+44.98 10/6
No comments:
Post a Comment