U.S. Stocks Hit Record Highs While Treasury Yields Hover Near Multi-Year Peaks

On Monday the S&P 500 rose 30.33 points, or 0.39%, to 7,753.05 and the Nasdaq Composite gained 167.85 points, or 0.62%, to 27,360.28, marking an all-time high for the Nasdaq. The Dow Jones Industrial Average slipped 66.35 points, or 0.13%, to 51,110.61. Heavyweight tech names—including Nvidia, Meta Platforms, Microsoft and Tesla—each added more than 1% in early trading.

Reuters

The S&P 500 software & services index climbed 1.4%, while the Philadelphia semiconductor index fell 0.3%. PTC surged 34.6% after Schneider Electric announced a $22.6 billion all-cash acquisition of the software firm. RXO jumped 22.5% following C.H. Robinson’s agreement to buy the transportation broker for $5.8 billion; C.H. Robinson shares fell 11.8% on the news. Advancing issues outnumbered decliners by a 1.04-to-1 ratio on the NYSE and 1.09-to-1 on the Nasdaq. The S&P 500 recorded three new 52-week highs and 18 new lows; the Nasdaq logged 23 new highs and 157 new lows.

Reuters

The benchmark 10-year U.S. Treasury yield stood at 5.296%, reflecting concerns over government finances, heavy debt issuance and elevated energy costs. Traders assigned an 80% probability that the Federal Reserve will hold rates steady this month, though a December hike remains priced in according to the CME FedWatch tool. Despite the high-yield backdrop, risk sentiment stayed muted, with investors watching geopolitical tensions—including the ongoing U.S.–Israel conflict—that kept Brent crude near the $100-per-barrel psychological level.

Reuters

Peter Andersen, founder of Andersen Capital Management, argued that while many investors fear higher yields could derail the equity rally, the market retains sufficient momentum to absorb further interest-rate increases.

Reuters

• “Many investors expect higher yields to derail the equity rally, but I think the market still has enough momentum to push through further increases in interest rates,” — Peter Andersen, founder

Reuters