Treasury yields fell as investors sought shelter from a sell-off in equity futures sparked by potential big victories from Democrats in the U.S. midterm elections.
Browsing: Invesco QQQ Trust
Fueled by the global boom in artificial intelligence stocks, relaxed capital rules and greater lending to hedge funds, big Wall Street banks have already had a banner year for equities trading — even with one quarter left to go.
At the time of its Nasdaq debut in July, Bending Spoons was a little-known holding company out of Italy that owned older internet names like AOL, Vimeo, Eventbrite and Evernote.
Happy birthday to the bull market, which just turned four.
The S&P 500 rose to an all-time intraday on Tuesday, touching 7844.52 and surpassing its August 13 intraday peak when it hit 7,830. The benchmark also closed for the first time over 7,800.
With Treasury yields climbing this week to their highest levels since 2007, companies reliant on debt are poised to see their borrowing costs rise. That means the AI infrastructure buildout, which has already reached historic levels, is about to get even more expensive.
Investors were rattled this week as the benchmark 10-year Treasury yield soared to its highest level since 2007, but sticky inflation is just one of the factors behind this latest surge.
S&P 500 companies are keeping more profit from every dollar in sales than ever before, providing another tailwind for stocks.
Steve Eisman is warning that the artificial intelligence boom has become increasingly dependent on the fortunes of just two companies: OpenAI and Anthropic.