Dow recovers 90 points October 5 as AI stocks surge
Business
Wall Street finished strong on Monday, October 5, with the Dow recovering from a big dip to close up 90 points.
The S&P 500 nearly hit a record, and the Nasdaq set new highs, all thanks to investors piling into AI and tech stocks, even though bond yields kept climbing.
SpaceX NVIDIA Tesla and Meta rise
SpaceX soared 7%, while NVIDIA, Tesla, and Meta all saw solid gains over 2%.
Rising bond yields (the highest since the early 2000s) didn't scare off investors, who stayed upbeat due to strong earnings and excitement around AI.
Meanwhile, Gulf countries boosted oil supply, keeping crude prices on the verge of breaking below the $100 a barrel mark again and providing some relief to sentiments on the Street.