Nasdaq Posts First Closing Record Since June 2 as Chip Stocks Lead Indexes

U.S. equities closed Monday with the Nasdaq Composite at a record 27,122.09, up 2.26% and its first closing high since June 2, as semiconductor and AI-linked names outran the broader tape.

The Composite’s last print was 599.55 points above Friday’s 26,522.54 close. Yahoo Finance’s daily bar shows a session high of 27,183.93. The same history puts the prior closing peak at 27,093.90 on June 2 — and no intervening session closed above that level — so Monday’s finish is the first new closing high since early June on the exchange-facing tape, not a wire-only claim.

The S&P 500 rose 1.49% to 7,764.70 and the Dow Jones Industrial Average gained 0.71% to 52,048.83. The S&P remains short of its Aug. 13 closing high of 7,798.99 by roughly 34 points, which is why Monday was a Nasdaq record session without a matching S&P closing high.

What pulled the tech-heavy composite was semiconductors. The PHLX Semiconductor Index jumped 4.29% to 12,433.17. Advanced Micro Devices closed at $615.52, up 9.95%; Intel at $121.78, up 12.14%; Arm Holdings at $322.90, up 17.16%; and Meta Platforms at $741.25, up 11.34%. Using AMD’s most recent Form 10-Q common-share count of 1,632,475,042 (as of July 29) times Monday’s close implies about $1.005 trillion of equity value — the first close above the $1 trillion line on that arithmetic, with the threshold near $612.57 a share. That share count is a July filing figure, not a live diluted September count.

Outside equities, the official Treasury constant-maturity curve for Sept. 21 shows the 10-year at 4.96%, down from 5.01% on Friday, while the 2-year held at 4.76% both days. The long end eased back under 5%; the front end did not join the move. Front-month crude futures on the same date settled at $95.78 for West Texas Intermediate, down 4.51%, and $100.34 for Brent, down 3.40% — futures settles from the exchange-facing tape, not an EIA cash-spot print.

Even with indexes higher, rate-path caution stayed in the session. Futures-implied odds carried in Monday close coverage put roughly a 55% chance on another Federal Reserve increase in October and about 91% odds of a hike by year-end. Seema Shah, chief global strategist at Principal Asset Management, said synchronized hikes have raised concerns about risk assets but that equities remain near records on earnings growth, and that central banks are raising rates to address inflation rather than to slow activity — tightening she described as gradual and limited.

Breadth counts for the NYSE and Nasdaq were not established for this wrap. The near-term tests are whether the Composite holds Monday’s closing high on an ordinary down day, and whether the S&P can clear the August closing peak the tape still shows above it.