S&P 500 hits record above 7,813 points as tech rallies

The S&P 500 rose 0.50% above 7,813 points to record levels on Tuesday, October 6, 2026. The Nasdaq gained 0.72% after reaching record highs the previous session, and the Dow Jones Industrial Average added 0.31%. A pullback in energy prices and fresh artificial intelligence deals supported broader market sentiment.

Nvidia approached a market valuation of 6 trillion dollars, reaching roughly 5.8 trillion dollars after gaining 28% in 2026. The chipmaker expanded its share buyback authorization by 150 billion dollars and remains the primary driver behind the 14% rise in the S&P 500 this year, according to Bloomberg data. Alphabet signed a 20-year agreement with Constellation Energy to purchase 890 megawatts of nuclear power, backed by more than 4.3 billion dollars in planned supplier investment. In AI funding, OpenAI is in discussions with United Arab Emirates funds for a 30-billion-dollar round, DeepSeek seeks at least 12 billion dollars, and Moonshot AI is planning an initial public offering in Hong Kong for the first quarter of 2027.

Brent crude dropped 2.8% to 97.54 dollars per barrel, while West Texas Intermediate slipped 2.5% to 87.19 dollars per barrel on recovering Middle East supplies. Shell estimated regional flows reached roughly 80% of pre-conflict levels, while Kuwait produced around 75% of its pre-war volume and Saudi Arabia moved 5.8 million barrels daily through its East-West pipeline. The G7 and partners announced the release of up to 100 million barrels of emergency reserves, even as Russell Hardy, CEO of Vitol, warned that no western inventories remain to drain.

Lower crude prices eased pressure on fixed income after Monday moves pushed the 10-year Treasury yield to 5.34% and the 30-year yield to 5.7%, their highest levels since 2002. Traders placed a 25% probability on a Federal Reserve rate hike in October and fully priced in a 25-basis-point increase for December. Meanwhile, spot gold rose 0.4% to 4,157.88 dollars per ounce, and the Stoxx Europe 600 advanced 0.5%.