Economy: The US stock market on the verge of a new historic record

The highs are getting closer on Wall Street. Futures contracts on the S&P 500 are progressing this Tuesday, October 6 before the American opening. The index ended Monday just 0.6% off its all-time high, reached in mid-August. The decline in oil and the easing of bond yields are supporting the movement as quarterly publications approach.

Artificial intelligence keeps the momentum going

Big tech stocks continue to support Wall Street. Nvidia and Microsoft notably contributed to the Nasdaq Composite record on Monday, against a backdrop of optimism around artificial intelligence. Investors are now banking on quarterly results to confirm the growth prospects of companies.

The decline in energy also provides support. Tuesday morning, Brent was trading below $100 per barrel, down nearly 2%. At the same time, bond yields were taking a break after their recent surge.

Rates still high to watch

This easing remains relative: the ten-year US yield was still around 5.26% on Tuesday morning. The cost of financing therefore remains high, despite the improvement in sentiment on stocks.

The next results season will allow us to compare stock market enthusiasm with company performance. A disappointment among technology heavyweights or a further rise in yields could complicate the continuation of the movement.