Stock Market Today, Oct. 5: Tech Momentum Lifts Nasdaq as Treasury Yields Surge
The Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.05% to 27,477, while the S&P 500 (SNPINDEX:^GSPC) rose 0.66% to 7,774 and the Dow Jones Industrial Average (DJINDICES:^DJI) added 0.18% to 51,268 as tech optimism overshadowed elevated Treasury yields.
Gold prices gained 0.10% to $4,138.68, and the 10-Year Treasury yield rose 0.03% to 5.31%. Almost every sector gained, with industrials and communication stocks surging, while real estate slipped slightly.
Vaxcyte shares soared over 30% on positive late-stage vaccine success, while Genmab gained almost 11% after announcing positive lymphoma drug data. Meanwhile, PTC climbed following reports of a $22.6 billion buyout offer. Taiwan Semiconductor Manufacturing gained as investors digested reports that it was in discussions with Elon Musk’s massive Terafab chip factory.
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