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S&P 500 and Nasdaq hit record highs driven by tech stocks despite global market weakness.

Market News
07 Oct 2026
Seeking Alpha
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Neutral
S&P 500 and Nasdaq hit record highs driven by tech stocks despite global market weakness.

The S&P 500 and Nasdaq Composite reached new all-time highs, primarily fueled by strong performance in US tech stocks, even as global equity and bond markets showed weakness. However, only 46% of S&P 500 stocks remain above their 200-day moving average, indicating that market gains are narrowly concentrated in the tech sector. Rising US bond yields pose a risk to this momentum by increasing financing costs and potentially triggering capital rotation away from high-growth tech companies. Upcoming guidance on capital expenditures, especially from major tech hyperscalers, will be crucial to sustaining the tech-led rally through 2027.

The S&P 500 and Nasdaq Composite reaching new highs provide context for Pluang's technology sector data. As of Oct 08, 2026 03:01 WIB, 56 of 150 priced technology-sector US stocks rose while 93 fell. Notable movers include AXTI at USD 79.75 with a 1-day change of -5.13%, BTDR at USD 10.37 down 4.95%, and NBIS at USD 237.80 down 4.79%.

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