S&P 500 Reaches Fresh Record High as Falling Oil and Yields Bolster Equities

The S&P 500 reached a new all-time record high on Tuesday, gaining 0.49% alongside a 0.60% rise in the Nasdaq 100. Markets rallied as West Texas Intermediate crude dropped over 2% to a one-month low and 10-year Treasury yields fell to around 5.27%. The advance extended early momentum driven by AI enthusiasm and expectations of 29.5% year-over-year corporate earnings growth in the third quarter. While semiconductor leaders AMD, Super Micro Computer, and Intel previously gained 20% or more from mid-September lows, market breadth remained narrow with the equal-weighted index over 5% off its peak.