Stock Market Recap — Oct 5, 2026
Nasdaq hits record as Treasury yields reach highest close since 2002
AI-linked technology shares overcame an inflation-driven bond selloff and early weakness in equity futures. Takeovers generated sharp stock-specific moves, while financing and power procurement underscored the scale of investment supporting the AI trade. • AI Demand: The Nasdaq rose 1.05% to a record close, and Nvidia gained 2.1%, also setting a record. Hon Hai’s revenue beat supported optimism about server demand. Banks also began syndicating Anthropic’s $60 billion Google-chip financing, including a $42 billion senior tranche backed by Broadcom. • Macro/Rates: ISM services prices paid reached 74, the highest since July 2022, despite slower activity growth. The 10-year Treasury yield retreated from above 5.34% to close at 5.310%, its highest close since April 2002. Markets priced an October Fed hold. • Software Takeover: Schneider agreed to acquire PTC for $205 per share in cash at a $23.7 billion enterprise value. PTC rose 35% premarket. • Freight Consolidation: CH Robinson agreed to buy RXO for $5.8 billion. RXO jumped 20% premarket, while CH Robinson fell 5.5%. • Nuclear Power: After hours, reports said Google was nearing a multiyear Constellation agreement worth at least $1 billion; capacity and location remained unknown.
Intraday Updates
- 02:39 ET: Schneider confirms $205-per-share PTC acquisition as euro hits 17-month low (40 stories)
- 07:38 ET: CH Robinson agrees to buy RXO in $5.8 billion deal (92 stories)
- 12:35 ET: Treasuries fall after services inflation gauge reaches four-year high (76 stories)
- 17:28 ET: Banks launch $60 billion AI chip financing as Option Care surges on takeover report (68 stories)
- 22:16 ET: Google reportedly nears $1 billion-plus nuclear power deal with Constellation (40 stories)