Tech rally pushes S&P 500 near record despite surging bond yields

· Economy · United States

A rally in giant technology companies drove US stocks higher, with the S&P 500 closing in on a record high and the Nasdaq Composite hitting a fresh intraday and closing peak. The gains came despite concern over still-elevated oil prices and bond yields at multi-decade highs. CNBC's Jim Cramer noted Nvidia, Microsoft and Meta were helping push stocks to records even as surging Treasury yields pressured much of the broader market. Asian stocks posted a modest gain after the tech-led rally, as investors largely shrugged off bond-market worries.

Why it matters：The split between record stock indexes and rising yields reflects a market betting on AI-driven earnings over fiscal risk, a dynamic that shapes global capital flows.

Key points

  • The S&P 500 approached a record; the Nasdaq 100 hit a fresh peak.
  • Treasury yields reached their highest level since 2002.
  • Nvidia, Microsoft and Meta led the megacap advance.

Sources (original reporting)

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