{
  "id": 12483683,
  "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-12483683",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T21:58:53.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/10/07/s-p-500-nasdaq-reach-record-closing-highs-as-focus-pivots-to-earnings"
  },
  "original_language": "en",
  "account": "On Tuesday, US stocks saw a broad rally and set new record closing highs, with the S&P 500 and Nasdaq reaching all-time highs. This positive trend came as crude prices stabilized and US Treasury yields eased, providing respite from investor concerns. The Dow Jones Industrial Average was just over 5% shy of its record closing level, reached on August 5. Oliver Pursche, a senior advisor at Wealthspire Advisors, noted that the market's focus has shifted to the upcoming third-quarter earnings season as oil prices stabilize or decline, reducing anxiety about energy-driven inflation. Six of the Magnificent Seven AI-linked megacap firms advanced, boosting gains, while small-caps lagged behind. The AI trade remains strong, with the Philadelphia SE Semiconductor Index gaining. US imports of capital goods rose by 4.4% in August, while the trade deficit grew by 13.7%. Financial markets now expect a lower probability of a second consecutive Fed rate hike at this month's meeting, down from 50.9% to 19.4%. Despite oil price concerns, a G7 agreement to release emergency diesel and crude stockpiles helped stabilize crude futures. The Dow Jones Industrial Average climbed 0.49% to 51,521.04, the S&P 500 rose 0.58% to 7,818.95, and the Nasdaq Composite gained 0.45% to 27,599.79. All 11 major sectors in the S&P 500 gained, with utilities leading the way. Third-quarter earnings season begins next week, with analysts projecting a 30.6% aggregate annual S&P 500 earnings growth, driven by a 114.7% expected surge in energy earnings and a 66.5% surge in tech results. Marvell Technology and AMD also saw gains following strong revenue forecasts and CEO Lisa Su's plans for increased chip supply. Option Care Health surged 32.7% after being acquired by McKesson and Clayton Dubilier & Rice for about $5.8 billion.",
  "summary": "Third-quarter earnings season kicks off next week, with a number of high-profile financial firms expected to report next Tuesday.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "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",
        "published": "2026-10-06T20:49:28.000Z"
      },
      {
        "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."
}