S&P 500 Sets Intraday Record as Tech Shares Rise

The S&P 500 briefly set an intraday record on Tuesday, Oct. 6, rising above its Aug. 13 peak as technology shares advanced amid renewed enthusiasm for artificial intelligence and expectations of strong corporate earnings. The index reached 7,817.13 in morning trading, according to reports, surpassing its previous intraday record of 7,816.7. A separate midday account reported the index at 7,840 at 11:38 a.m. ET, up 0.85 percent, underscoring that reported readings varied with the time of measurement. Technology-heavy Nasdaq shares also reached intraday records. In morning trading, the Dow Jones Industrial Average and the Nasdaq Composite were higher, while Treasury yields and oil prices eased. Market commentary linked the gains partly to investor optimism about AI-related business and the prospect of strong corporate earnings. Falling oil prices were also described as easing inflation concerns. A midday market report highlighted a deal involving Alphabet’s Google and Constellation Energy Corporation as a catalyst for gains in nuclear-related stocks, including Vistra and Talen Energy.