The Nasdaq closed at a record high on Monday, rising 1.1% to 27,477 as mega-cap tech and M&A activity defied a historic bond sell-off. The US 10-year yield touched 5.35% — its highest since 2002 — while BMO warned the 30-year is headed to 6%. Oil fell 2% and the euro slumped to a 17-month low on French fiscal contagion. ASX futures point firmer ahead of the Firmus IPO.
The 10-year Treasury yield touched its highest level since 2002 before a sharp reversal rescued equities, while oil surged on fresh US troop deployments and China’s fuel-export ban. Russia’s nuclear warning over Kaliningrad and Nvidia’s financing headaches added to a volatile session. The S&P 500 eked out a 0.2% gain as Fed Vice Chair Jefferson signalled patience on hikes.
US stocks rallied to close out what’s shaping up as the best quarter in six years, with the Dow hitting a record 52,182 as Alphabet made its blue-chip debut. Tech bounced hard after last week’s AI-driven selloff, while the yen slid to 40-year lows and US-Iran talks in Doha offered a fragile path to de-escalation.