Nasdaq Hits Record High Despite Treasury Yield Surge

U.S. Treasury yields surged to their highest level in over 22 years due to inflation concerns, but Wall Street closed higher. Expectations for strong performance in the artificial intelligence (AI) sector influenced stock prices. Major tech stocks rallied in unison, pushing the Nasdaq Composite to a record high. On October 5 (local time), the Dow Jones 30 Industrial Average at the New York Stock Exchange rose by 90.94 points (0.18%) to 51,267.90. The S&P 500...