U.S. stock indexes ended higher on October 5, with the Nasdaq up 1.05% and the S&P 500 gaining 0.66%. Investors weighed economic data and rising Treasury yields.
New York stocks closed higher. The Dow Jones Industrial Average rose 0.18% to 51,267.90, the S&P 500 gained 0.66% to 7,773.95, and the Nasdaq advanced 1.05% to 27,477.31, setting a new record. The closing figures matched the Associated Press report.
Technology shares led the Nasdaq higher, including Meta, Microsoft, Nvidia and Tesla. GE HealthCare rose 2.2% after announcing a definitive agreement to acquire U.S. company SOFIE Biosciences for $945 million in cash.
OpenAI CEO Sam Altman told Politico that something was clearly not working with artificial-intelligence industry spending during the U.S. midterm elections. He also questioned whether President Donald Trump’s repositioning on the technology could improve his public image.
The rally came as Treasury yields climbed and investors considered the prospect of U.S. interest rates staying high for longer, which could raise companies’ borrowing costs. Markets tracked business-activity readings from ISM and S&P Global and awaited the Federal Reserve’s meeting minutes, due Wednesday.