Stocks Hit New Highs While Bond Yields Surge — Tuesday’s Market Outlook
Stock index futures are pointing higher Tuesday morning, with the NASDAQ positioned to make another all-time high. Despite weakness in bonds and rising bond yields, major U.S. indexes remain strong, while several broad-market ETFs, including the Vanguard Total Market and Vanguard Small-Cap ETFs, have returned to buy signals. The Equal Weighted S&P 500 is also approaching a new buy signal, suggesting the recent rally may finally be broadening beyond a handful of large-cap technology stocks.
The major technology stocks remain central to the market’s strength. NVIDIA, Microsoft, Shopify, Tesla, and the Magnificent 7 ETF made new highs, while Broadcom returned to a buy signal and several other stocks could generate new buy signals. Crude oil remains under pressure despite sharply higher insurance costs for Persian Gulf shipping, while a stronger U.S. dollar continues to pressure foreign currencies. Overall, the market remains bullish, although rising bond yields and interest rates remain important risks to monitor.
Stephen Whiteside
Tuesday, October 6, 2026
