Nasdaq climbed 0.7% amid a surge in technology shares, pushing the index to a record high. Traders kept a close eye on Treasury yields and fresh economic data, weighing the impact on equities.
The S&P 500 edged up 0.4%, while the Dow Jones Industrial Average slipped 87 points, a drop of 0.2%. Market breadth showed a mixed picture, with leading tech names outpacing blue‑chip staples.
U.S. Treasury yields rebounded on Monday. The benchmark 10‑year yield rose 2 basis points to 5.298%, while the 30‑year climbed 3 bps to 5.659%. The 2‑year yield fell 1 bps to 4.818%, signaling a subtle shift in short‑term expectations.
The ISM services index registered a reading of 54.9 for September, only half a point below August and aligning with the consensus estimate of 55. The figure indicates steady, though slightly cooling, growth in the services sector.
Crude oil prices fluctuated amid geopolitical tensions. Brent edged above $102 a barrel after earlier falling 1.6%, and WTI hovered near $90, reflecting a cautious stance among traders on supply disruptions.
Houthi‑run media warned that Saudi airspace would remain unsafe amid ongoing conflict, adding a risk premium to Middle Eastern markets. Meanwhile, the U.S. trade deficit stood at $78.3 billion in July, and India’s HSBC Services PMI held at 55.8, with the Composite PMI at 56.5. Investors will look to the upcoming U.S. CPI release and the next set of earnings reports for further direction.