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MARKET BRIEFING · US

Yields hit their highest since 2002, and the Nasdaq still closed at a record.

October 5, 2026 · Read the Korean original

Major indices

  • Dow 51,267.90 +0.18%
  • S&P 500 7,773.95 +0.66%
  • Nasdaq 27,477.31 +1.05%

Rates and jobs set up the overnight US session in opposite directions. CNBC reported that the 10-year Treasury yield rose as high as 5.34% intraday, its highest level since April 2002. Stocks held up anyway because last week's weak September jobs report eased fears of further Fed tightening, with CME FedWatch putting the odds of a hold at around 82%. Reuters also pointed to lower oil prices as a relief, and the September ISM services index came in at 54.9, broadly in line with expectations.

That breathing room went to tech. The Nasdaq Composite rose 1.05% to a record close of 27,477.31 and the S&P 500 gained 0.66%, while the Dow added only 0.18%.

Chips and big tech led the indexes, and Elon Musk's Terafab chip-plant plan moved several names at once. After Musk confirmed talks with TSMC about joining, TSMC, Tesla and SpaceX rose, while Intel, long mentioned as Terafab's process partner, fell.

In Korea today, semiconductors are first in line. If Nvidia's record revives hopes for AI memory demand, the lift could spread through the chip value chain, including Samsung Electronics and SK hynix. Tesla's gain may also carry over to EV batteries and auto parts. Still, Newspim reported that before the open the Treasury yield was holding around 5.27% and oil was staying high near 100 dollars a barrel, so valuation pressure on growth stocks has not fully gone away.

What is confirmed is that all three major US indexes rose, the Nasdaq set a record close, and the 10-year yield reached its highest level since 2002. Explaining why stocks rose despite higher yields through a cooling job market and AI optimism remains the media's interpretation. Index moves differed slightly across outlets at the decimal level, so we followed the US wire service tally.

Korean industries to watch today

  • Semiconductors · Nvidia's second straight record close may keep AI memory demand hopes alive.
  • EV batteries · Tesla's gain of more than 2% leaves room for EV batteries and auto parts.

Watchlist stocks in the news

  • NVIDIA (NVDA) Close +2.10% · Led the Nasdaq to a second straight record close, extending gains since its late-September buyback expansion. (Reuters)
  • TSMC (TSM) · Hit an intraday record after Musk confirmed talks about joining the Terafab chip plant. (Yahoo Finance)
  • Intel (INTC) · Fell on worries it could lose its Terafab process role to TSMC, alongside a note flagging laptop CPU share losses. (Quartz)
  • AMD (AMD) · Slipped slightly alongside Intel worries, with no clear company-specific news. (24/7 Wall St.)
  • CoreWeave (CRWV) · Truist reiterated its Buy rating, citing a further 10% price increase after July's hike. (TipRanks)
  • Nebius (NBIS) · Rose with CoreWeave on continued expectations for AI compute demand. (TipRanks)
  • IREN (IREN) · Rose with CoreWeave on continued expectations for AI compute demand. (TipRanks)
  • Microsoft (MSFT) Close +1.50% · Melius Research upgraded the stock to Buy. (CNBC)
  • Meta (META) · No company-specific news; it rode the broad tech rally on weak jobs data and lower oil. (Reuters)
  • Tesla (TSLA) · Musk confirmed Terafab talks with TSMC, and Friday's strong third-quarter deliveries kept helping. (Yahoo Finance)
  • SpaceX (SPCX) · Rose as TSMC's possible Terafab role came into focus and Morgan Stanley reiterated Overweight with a 300-dollar target. (CNBC)
  • AppLovin (APP) · Rebounded after nine straight losing sessions; analysts noted a 58% year-to-date drop had eased valuation concerns. (24/7 Wall St.)

Sources (Korean-language)

This market briefing was compiled by AI from this site's own price and filing data together with public news reports, and translated from the Korean original. Please check the sources below before relying on it.

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