After the benchmark S&P 500 index set a new closing record on October 6, there were no significant changes in the futures of the three major U.S. stock indexes.
The S&P 500 index rose to a record high during trading, driven by gains in key technology stocks and a continuous decline in U.S. Treasury yields. As of 4 p.m., this benchmark index closed up 0.58% for the day, at 7,818.93 points, setting a new closing record. This is also the first time the S&P 500 index has closed above 7,800 points.
The Dow Jones Industrial Average rose 253.38 points on the day, an increase of 0.49%, closing at 51,521.28 points. The Nasdaq Composite Index also rose 0.45%, closing at 27,599.79 points, setting a new closing record as well. This marks the second consecutive trading day that this index, which is dominated by technology stocks, has closed at a historical high. Technology stocks that drove the rise in the Nasdaq include Marvell Technology ( MRVL ), which rose 5.8%; and Advanced Micro Devices ( AMD ) rose nearly 3%.
In terms of futures, the Dow Jones futures rose by 0.07%, the S&P 500 index futures rose by 0.10%, and the Nasdaq futures rose by 0.09%.
U.S. Treasury yields fall
Oil prices saw little change on the day, with Brent crude rising by 0.26% to close at $100.58 per barrel. West Texas Intermediate (WTI) crude in the United States ( WTI ) increased by 0.01% to close at $89.44 per barrel. U.S. Treasury yields declined for a second consecutive day, easing pressure on the stock market. The yield on the benchmark 10-year U.S. Treasury note fell by 3 basis points to 5.281%.
The yield on 30-year U.S. Treasury bonds remained relatively stable at 5.655%. Although the yield fell at the beginning of this week, the yields on 10-year and 30-year Treasuries are still at their highest levels since 2002. Traders and investors are currently focusing on the minutes of the Federal Reserve's September meeting, which will be released on October 7th. The market expects that these minutes will provide more clues regarding the policymakers' decision to raise interest rates by 25 basis points in September.
U.S. Inflation
The following is a chart provided by TipRanks that shows the trend of historical inflation rates in the United States.
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