{
  "id": 12466813,
  "title": "S&P 500, Nasdaq reach record closing highs as focus pivots to earnings",
  "url": "https://urgent.news/2026/10/06/s-p-500-nasdaq-reach-record-closing-highs-as-focus-pivots-to-earnings",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T20:49:28.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/companies-markets/sp-500-nasdaq-reach-record-closing-highs-as-focus-pivots-to-earnings"
  },
  "original_language": "en",
  "account": "On October 6, US stocks surged to record highs as crude prices stabilized and Treasury yields eased, providing a breather from investor concerns. The S&P 500 and Nasdaq both hit all-time closing peaks. The Dow Jones Industrial Average was just over 5% below its previous record. Oliver Pursche explained that lower oil prices reduce inflation anxiety, boosting stocks. Six \"Magnificent Seven\" AI-linked firms contributed to the rally. Semiconductors showed growth, and AI-related infrastructure investments were evident in trade data. The US trade deficit surged by 13.7%, driven by imports hitting record highs. The probability of a Federal Reserve rate hike at the upcoming meeting fell to 19.4%, down from 50.9% the previous week. Fed rate hike expectations were influenced by surging oil prices due to the Iran war, but supply concerns eased after the G7 agreed to release emergency energy stockpiles. All S&P 500 sectors except healthcare increased, with utilities leading. Third-quarter earnings began with major financial firms expected to report on October 13. Analysts forecast 30.6% S&P 500 earnings growth for July-to-September, with energy and tech sectors leading the surge. Marvell Technology rose 5.8% due to increased demand for data center chips, while AMD gained 2.8% after CEO Lisa Su announced plans for more chip production in 2027. Constellation Energy climbed 12.3% after a power deal with Alphabet. Option Care Health surged 32.7% after being acquired by McKesson and Clayton Dubilier & Rice. Advancing issues exceeded decliners on both NYSE and Nasdaq. The S&P 500 recorded 23 new 52-week highs and two new lows, while the Nasdaq Composite had 61 new highs and 182 new lows. US exchange volume totaled 16.50 billion shares, surpassing the 20-day average of 17.51 billion.",
  "summary": "The Dow Jones Industrial Average rose 253.14 points, or 0.49%, to 51,521.04.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "S&P 500, Nasdaq reach record closing highs as focus pivots to earnings",
        "url": "https://urgent.news/2026/10/06/s-p-500-nasdaq-reach-record-closing-highs-as-focus-pivots-to-earnings-12481665",
        "published": "2026-10-06T21:49:28.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "S&P 500, Nasdaq reach record closing highs as focus pivots to earnings",
        "url": "https://urgent.news/2026/10/06/s-p-500-nasdaq-reach-record-closing-highs-as-focus-pivots-to-earnings-12483640",
        "published": "2026-10-06T21:58:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}