Nasdaq climbs to new intraday high as tech gains and geopolitics shape markets

At 11:31 AM ET, the Nasdaq Composite rose 0.29% to 27,201, setting a new intraday record high, while the S&P 500 slipped 0.06% to 7,760 and the Dow Jones Industrial Average fell 0.60% to 51,737. Gold traded at $4,329.49, down 0.31%, and the 10‑year Treasury yield climbed 2 basis points to 4.98%. Utilities and basic materials led the sector gainers, with financial services stocks dropping the most.

Lennar shares surged after Berkshire Hathaway added more than $200 million of the stock, despite an earnings miss and housing market caution. Semiconductor stocks, including Micron, extended yesterday’s gains as artificial intelligence optimism returned, and Shopify surged after Meta Platforms’ AI agent Muse integrated its checkout.

The focus remains on the UN General Assembly, as markets await progress in the Middle East, particularly the reopening of the Strait of Hormuz. The upcoming meeting between President Donald Trump and President Xi Jinping is also key, with AI safety, trade, and exports on the table. With no major events on the economic calendar, world events are likely to drive sentiment.

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