US Stocks Mixed as Nasdaq Hits Record High; Dow Slides 200 Points
SingTao · 4 SOURCES1 day ago2 MIN
Summary
U.S. stock markets showed divergence on Monday with the Nasdaq climbing to a new all-time high while the Dow Jones Industrial Average fell more than 200 points. Technology stocks led the rally with Nvidia reaching fresh peaks, though Treasury yields remained elevated near levels not seen since 2002. Investors are now turning their attention to the Federal Reserve's September meeting minutes due mid-week for clues on the interest rate trajectory.
Key Points
- The Nasdaq Composite closed at 27,477.31 points, surging 286.45 points or 1.05% to set a record closing high, while the S&P 500 gained 0.66% to 7,773.95 points
- The Dow Jones Industrial Average fell 279 points to 50,897 points on Monday before recovering to end at 51,267.90 points on Tuesday, up 90.94 points
- The 10-year U.S. Treasury yield rose to 5.311%, continuing to trade near the highest levels since 2002, despite last Friday's weaker-than-expected employment data
- Nvidia (NVDA) closed at $238.90, up 2.1%, with its market capitalization expanding to approximately $5.76 trillion, approaching the $6 trillion milestone
- Chinese-listed stocks in the U.S. rallied strongly with Futu (FUTU) surging 7%, Alibaba (BABA) climbing 4.68%, and PDD Holdings rising 3.34%
Why It Matters
The divergence between the technology-heavy Nasdaq and the more rate-sensitive Dow Jones highlights how monetary policy expectations continue to drive market segmentation. The Fed's meeting minutes could provide critical guidance on whether the central bank remains committed to its data-dependent approach, particularly after the surprise weakness in employment figures. For Hong Kong traders, the strong performance of U.S.-listed Chinese tech stocks suggests continued appetite for Chinese growth exposure, which could support related Hong Kong-listed shares when Asian markets open.
The divergence between the technology-heavy Nasdaq and the more rate-sensitive Dow Jones highlights how monetary policy expectations continue to drive market segmentation. The Fed's meeting minutes could provide critical guidance on whether the central bank remains committed to its data-dependent approach, particularly after the surprise weakness in employment figures. For Hong Kong traders, the strong performance of U.S.-listed Chinese tech stocks suggests continued appetite for Chinese growth exposure, which could support related Hong Kong-listed shares when Asian markets open.