S&P 500 closes at first record since August, topping 7,800 for the first time

The S&P 500 climbed about 0.6% on Tuesday to close at 7,819.04, a record high — its first since mid-August and the first close above 7,800 points ever, Barron’s reported.

The Nasdaq Composite rose roughly 0.5% to its own record close, a second straight record day, and is up 2.75% this month, according to CNN. The Dow Jones Industrial Average added 253 points, about 0.5%, but remains roughly 5% below its early-August record, Barron’s noted.

Bond markets gave stocks some breathing room: the 10-year Treasury yield ended at 5.28% in late-afternoon trading Tuesday, down about three basis points, after touching above 5.35% on Monday — its highest since April 2002 — Investopedia reported.

The artificial-intelligence trade broadened beyond technology. Utilities was the S&P 500’s top-performing sector, Barron’s said — only the third time since 1990 that utilities led the market on the day of a first record in more than 30 days. Constellation Energy and Vistra Corp were among the top gainers as investors piled into power companies as indirect AI plays.

Nvidia set a third straight intraday record and closed up 0.1%, near a $6 trillion market capitalisation, while the Roundhill Magnificent Seven ETF rose 0.5%, Investopedia reported. Oil ticked higher — WTI up 0.4% to $89.80 a barrel and Brent up 0.7% to $101 — as traders watched Houthi attacks on Saudi targets.

There was no clear fundamental catalyst, Glenmede’s Jason Pride told Barron’s, calling it “a sentiment relief associated with the rebound in crude flows”. The rally comes ahead of third-quarter earnings season.