Daily Bulletin · Tuesday, October 6, 2026 · pre-market

Nasdaq closes at a record as AI stocks lead while yields stay high

S&P 5007,774.22+0.66%Nasdaq27,471.42+1.05%10Y5.31%+0.03WTI$89.60+0.34%Gold$4,133.97−0.15%VIX15.51+1.31%

In brief

AI drives record: The Nasdaq Composite rose +1.05% to a record close on AI-linked stocks, showing tech still sets the market's pace.¹
Yields stay high: The 10-year yield edged up to 5.31% after a week of surging rates, keeping pressure on stock valuations.²
Fed minutes ahead: Traders hope Wednesday's FOMC minutes explain the Fed's rate hike, making them the week's key policy event.³

What it means

Investors kept buying AI-related shares and lifted the S&P 500 technology sector to a record close, even as Treasury yields stayed elevated.¹ The equal-weight S&P 500 has lagged the cap-weighted index over the past month, a sign that gains rest on a narrow group of large stocks. The S&P 500 added +0.66%, and S&P 500 futures are up +0.05% ahead of the open.

The day in review and where money is flowing

Technology is Metravise's leading sector, ahead of the S&P 500 by +1.4 pts over the past month, with semiconductor equipment and materials at +20.3 pts and semiconductors at +15.8 pts. Over five sessions the Nasdaq 100 gained +2.67% versus +1.20% for the S&P 500, while the Metravise Portfolio rose +0.20% in the last session. Money is clustering in the chip supply chain, while financials, healthcare and real estate lag with weakening momentum.

Economy: steady, not hot

The ISM services PMI for September came in roughly in line with expectations and slightly below August's pace of growth.⁴ A lackluster September jobs report helped ease concerns about another Fed rate hike this month.² Softer but not weak data gives markets some relief from rate worries without signalling a sharp slowdown.

Market mood

The VIX rose +1.31% to 15.51, still within its normal zone. The equity put/call ratio was 0.59, above its 5-day average of 0.53, pointing to slightly more demand for protection but no sign of stress.

What to watch today

Times are Istanbul time (TSİ).

07:10
US index futures (futures, not the session)Versus the prior close, S&P 500 futures are +0.05% and Nasdaq 100 futures +0.06%; these are futures prices, not the session. The US session opens at 16:30 Istanbul time.
Tue 15:30
U.S. trade balanceA wider-than-expected trade deficit is generally read as a drag on growth estimates, while a narrower one is read the other way.
Tue 17:45
Fed Vice Chair for Supervision Michelle W. Bowman speaks — Modernizing Regulation and SupervisionRemarks on regulation and supervision are generally read through their implications for bank lending and the financial sector.
Tue
Neogen Corp (NEOG) earnings · today after the closeResults above or below expectations are generally read as a signal for the company's own outlook rather than the broad market.
Wed
FOMC minutesTraders hope the minutes of the September 15-16 meeting shed light on policymakers' decision to raise rates, a key input for the rate path.³

Metravise Portfolio

PortfolioMonday change+0.20%
—No entries or exits in the last session.

Metravise is an educational research platform — this bulletin is not investment advice. News summaries are based on the footnoted sources; numbers are Metravise data. Past performance is not indicative of future results.

Sources

Stock futures are little changed after Nasdaq hits new record: Live updates — CNBC · Oct 6
Nasdaq closes at fresh record as tech shares rise and traders look past higher yields — CNBC · Oct 6
Stock futures are little changed after Nasdaq hits new record: Live updates — CNBC · Oct 6
10-year Treasury yield rises to fresh 2002 high to start the week — CNBC · Oct 6