New Record Highs: SP500, NAS100, Nvidia, and AMD

• Tue, Oct 6th: US stock indexes and big-name AI companies posted new record highs

• SP500 +14.2% so far in 2026; analysts predict 18% more gains in 12 months

• NAS100 +23.7% so far in 2026; analysts predict 19% more gains in 12 months

• Nvidia +28.3% so far in 2026; analysts predict 35% more gains in 12 months

• AMD +203% so far in 2026; analysts to update 12-month forecasts around Nov 3rd AMD earnings



October has already witnessed a slew of record highs for US stocks and indexes.



Here are 3 reasons why:



1) The AI trade is making a comeback, with investors still pinning hopes that AI investments will eventually pay off and justify these lofty stock prices.

^{READ MORE (published Sept 23rd): AI stocks push NAS100 index to new record high!}



2) Oil benchmarks (Brent and WTI) fell at the start of the week - before rebounding - which helped ease inflation concerns.



3) Markets have dialed back expectations for a Fed rate hike later this month (Fed Funds Futures: <20% chance).

Generally, US stocks do not like the idea of higher US interest rates.

Hence, the idea of the Fed not hiking rates as fast as previously thought = a boost for equities.



Record highs so far in October 2026



Here are some major names that hit never-seen-before prices yesterday (Tuesday, October 6th)

^{* analysts surveyed by Bloomberg}



FUN FACT: Elon Musk is now a trillionaire once more as SpaceX has also risen +14% so far in October 2026, though not yet returning to its post-IPO peak.

READ MORE: Tesla hit both our upside and downside target set since Sept 28th. Revisit the original setups here.



Can US stocks post even more record highs? Watch these 3 factors



1) Oil prices reacting to Middle East conflict

As we see at the time of writing, US stock indexes are easing back lower as oil prices rise on reports that Iran is ramping up its attacks on the Strait of Hormuz.

Higher oil prices would then feed into inflation fears, prompting major central banks such as the Fed to hike rates even faster.

And as mentioned earlier, US stocks generally do not enjoy the prospects of rapidly rising US interest rates.



2) US earnings season kicks off Tuesday, October 13th

JPMorgan's earnings announcement serves as the unofficial curtain-raiser for the quarterly US earnings season.

A lot of the Big Tech names will report their earnings from the previous quarter, along with their earnings forecasts, at the tail-end of October/early November.

These big US stocks have to keep delivering positive surprises to keep stock markets climbing higher.



3) US jobs and inflation data - Fed watch

Much of the price gains in US stocks are based on the idea that the US economy remains resilient.

The US jobs market is still in hiring mode, albeit at a slower-than-expected pace in recent months.

However, with the Fed keeping its eye firmly on subduing still-high inflation, still-elevated US CPI and PCE data could re-awaken the prospects of faster Fed rate hikes.

And such an outlook (US rates moving higher, faster) could dampen the record-high party for US stocks.





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