The Nasdaq Composite surged to an all-time closing high on the back of massive tech momentum, shrugging off Treasury yields that hit their highest levels since 2002. Weak September jobs data fueled hopes of a Fed hold, lifting mega-cap AI plays higher despite broader recession concerns about persistently elevated borrowing costs.
→ Fed's September FOMC minutes release Wednesday—critical for clarity on rate-hike path as 10-year yields soar to 2002 levels
→ Earnings season kicks off this week with Constellation Brands, Levi Strauss, PepsiCo, Delta Air Lines reporting
→ Jobless claims Thursday and University of Michigan sentiment Friday—economic data to determine if yields can hold gains or retreat