Nasdaq closes at a record as Nvidia climbs and oil eases. The 10-year yield edges up to 5.31% anyway
U.S. stocks rose Monday. The Nasdaq Composite gained 1.05% to a record close of 27,477.31, its first since Sept. 22, led by Nvidia and Microsoft. The S&P 500 rose 0.66% to 7,773.95, short of its Aug. 13 record close of 7,798.99, and the Dow added 90.94 points, or 0.18%, to 51,267.90 (CNBC). Nvidia closed at a record $238.90. Brent crude settled down 1.89% at $100.32 and WTI down 1.8% at $89.43. The 10-year Treasury yield was 5.31%, up 3 basis points from Friday, per the Treasury daily curve published in the Fed's H.15 release; intraday quotes ran slightly higher. Friday's report showed payrolls up 29,000 in September against about 84,000 expected and unemployment at 4.2%, lowering expectations of an October Fed hike. Goldman Sachs expects 27% year-on-year EPS growth for the S&P 500 in the third quarter.
Stocks and bonds are telling different stories. Stocks see slower growth that keeps the Fed from hiking again; bonds see oil-driven inflation and heavy borrowing that keep long rates high. Mortgages and corporate borrowing follow the bond story.
Mortgage quotes track the 10-year, so this week's rates are not falling with the jobs data. Savers still earn about 4% or more on cash.
The record belongs to the Nasdaq, not the S&P. Wednesday brings the Fed's September minutes and a 10-year auction; if the auction clears above 5.3%, the gap between stock and bond moods will be hard to ignore.
DailyDrop U.S. No. 1 · October 5, 2026