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Nasdaq Closes at Record, 10-Year Tops 5.32% — What's Holding It Up?
The Nasdaq Composite rose 1.05% Monday to a record close of 27,477.31; the S&P 500 gained 0.66% to 7,773.95, within 0.6% of its own record; QQQ added 0.88% to $756.20. The 10-year yield climbed to 5.321%, the highest since 2002. The Dow lagged, +0.18% at 51,267.90. Bulls say the record rests on AI earnings, not multiple expansion, so it can take higher rates; bears say it sits on a few mega-cap names with no second leg. A Nasdaq record and a yield record on the same day — how long can both hold?
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