Stock Market Recap — Oct 6, 2026
S&P 500 secures record close after AI stocks rally
AI leadership carried equities to a record close, but narrow participation and growing credit distress tempered the advance. An oil rebound also undermined early inflation relief. • Equities/AI: The S&P 500 closed up 0.58% at 7,818.93, its first record since August; equal-weight stocks remained 4.6% below their high. AMD said demand exceeded supply. After hours, Nvidia gained as much as 0.6% following a report that SpaceX sought $40 billion to buy its chips. • Oil/Rates: Brent initially fell more than 2% as Middle Eastern exports recovered, helping push the 10-year Treasury yield down four basis points to 5.27%. Tanker attacks threatened shipments, and Brent reversed to settle up 0.3% at $100.58 before rising further in Asian trading. • Nuclear Power: Google and Constellation signed a 20-year, 890-megawatt agreement covering reactor upgrades, supporting the AI-power investment theme. • Healthcare Deal: Option Care rose 33% premarket after CD&R and McKesson confirmed its $5.8 billion acquisition. • Storage Competition: Seagate fell more than 9% following reports of a potential bidding contest for TDK’s hard-drive heads business. • Credit Stress: JPMorgan said leveraged loans trading below 60 cents reached $65 billion, the most since March 2020.
Intraday Updates
- 03:16 ET: German factory orders plunge as DayOne targets $5 billion US IPO (45 stories)
- 07:23 ET: Treasury yields retreat after Brent falls more than 2% (100 stories)
- 12:21 ET: S&P 500 hits intraday record after AI stocks rally (94 stories)
- 17:10 ET: S&P 500 confirms record close as Constellation Brands raises earnings outlook (50 stories)
- 22:01 ET: SpaceX reportedly seeks $40 billion to buy Nvidia chips (44 stories)