US Stock Market Today: NASDAQ & Dow Jones Jump 0.6% as Investors Await Fed Rate Cut and Tech Earnings

Beyond equities, government bonds remained stable. The yield on 10-year US Treasuries held at 3.98%, while Germany’s and Britain’s 10-year yields were unchanged at 2.62% and 4.39%, respectively. In currencies, the Bloomberg Dollar Spot Index fell 0.2%. The euro rose to $1.1660, and the yen strengthened 0.5% to 152.04 per dollar. Commodity markets softened, with West Texas Intermediate crude dropping 2.4% to $59.84 a barrel and spot gold falling 0.4% to $3,967 an ounce.

Market strategists said positioning in the NASDAQ 100 has risen sharply, reflecting renewed investor appetite for technology exposure. According to Citigroup, traders added about $2.7 billion in new long positions to the S&P 500, while small-cap stocks showed signs of profit-taking. 

Analysts at UBS and Goldman Sachs noted that seasonal trends could continue to support equities through the end of the year. Historically, late October and November have been among the strongest periods for US markets.