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S&P 500 and Nasdaq Reach New Peaks as Market Rally Persists
7 Oct
Summary
- S&P 500 and Nasdaq set fresh record closes on Monday
- AMD and OpenAI announce AI partnership, solidifying AI trade
- Government shutdown continues, delaying key economic data releases
On Tuesday, October 7th, 2025, the U.S. stock market opened higher, with the S&P 500 and Nasdaq reaching new intraday highs. This follows the indices setting fresh record closes the previous day, adding to a market rally that has become a topic of increased speculation.
The Nasdaq and Russell 2000 also reached record levels on Monday, further fueling the ongoing market rally. One notable development was the announcement of a partnership between Advanced Micro Devices (AMD) and ChatGPT creator OpenAI, solidifying the staying power of the AI trade.
However, the market's gains come in the absence of certain key economic data, as the government remains shut down for a sixth consecutive day. This has delayed the release of important figures such as Exports, Imports, and the Balance of Trade for August. Despite the lack of data, the market appears poised to continue its upward trajectory, with investors eagerly awaiting the start of earnings season later this week.
