Tech Stocks Boost Nasdaq to New High as Earnings Season Kicks Off; Nvidia, Meta, and Tesla Lead the Gains

The Nasdaq Composite soared to an all-time high on Friday, led by big tech stocks in anticipation of their upcoming earnings reports.

By 10:11 am ET, the Nasdaq had gained 1.4%, the S&P 500 rose 0.9%, and the Dow Jones climbed 0.5%. The main drivers were the “Magnificent Seven” tech giants, including Nvidia, Meta, Amazon, Microsoft, and Netflix.

• Stock Highlights: Nvidia rose 2%, while Amazon, Meta, Microsoft, and Netflix were each up by over 1%. Tesla climbed 3.1%, following a strong Q3 report and upbeat sales forecast.

Next week, Apple, Meta, and Microsoft are set to announce their earnings, while Tesla’s Q3 results were released on October 23.

• Market Open: As of market open Friday, Nasdaq Composite was up 97.1 points (0.53%) to 18,512.577, S&P 500 increased by 16.9 points (0.29%) to 5,826.75, and the Dow Jones rose 103.2 points (0.24%) to 42,477.51.
• Treasury and Commodity Movements: Treasury yields fell from their weekly highs, with the 10-year note yield at 4.19%. Gold prices dropped 0.4% to $2,724.50 per ounce, while silver declined 1.4% to $33.23 per ounce after hitting a 12-year high earlier. Oil prices rose with Brent crude up 1.02% to $75.14 per barrel amid Middle Eastern tensions.

This tech-led rally underscores market enthusiasm as earnings week unfolds, bringing fresh momentum to the market.