# AI Chip Stocks Lift S&P 500 and Nasdaq Composite to Records

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/27332
Published: 2026-10-07T09:37:50.000Z
Updated: 2026-10-07T09:37:50.000Z
Section: Investing

> Marvell Technology, Advanced Micro Devices and Constellation Energy led gains, while elevated oil prices and Treasury yields kept the broader rally narrow.

The S&P 500 and Nasdaq Composite closed at records Tuesday as artificial intelligence-linked chip stocks drove gains, while elevated oil prices and Treasury yields kept the advance concentrated in large technology companies.

The S&P 500 rose 0.58% to 7,818.93, and the Nasdaq Composite gained 0.45% to 27,599.79. The Dow Jones Industrial Average added 253 points to 51,521.

Chip stocks led the advance. Marvell Technology climbed 5.8%, Advanced Micro Devices gained 3% and Constellation Energy rose 12% during the session. Broadcom and Nvidia posted gains alongside other companies associated with artificial intelligence infrastructure spending.

The broader market showed less strength. The Russell 2000 fell 0.6%, while the equal-weight S&P 500 remained nearly 5% below its August high. Nvidia approached a $6 trillion market capitalization and represented more than 8% of the S&P 500, meaning its moves feed directly into the index.

Elevated oil prices and Treasury yields added pressure to other sectors. Brent crude traded near $100 a barrel, while the 10-year Treasury yield stood at roughly 5.3%. Healthcare and bank shares declined as borrowing costs remained elevated.

Analysts expect S&P 500 companies to report roughly 30% third-quarter earnings growth. Investors are also focused on artificial intelligence infrastructure spending as they assess whether corporate results can support current market levels.

The next major checks for the rally are Federal Reserve meeting minutes and corporate earnings reports. Those releases will help determine whether artificial intelligence momentum can sustain the advance after Tuesday’s record closes.