ETFs to Benefit as Nasdaq's Breakthrough Still Matters

The Nasdaq Composite extended its record-setting run as investors continued to favor technology and artificial intelligence (AI) stocks despite elevated U.S. Treasury yields and lingering inflation concerns. The index rose 1.05% on Oct. 5 and grew further on Oct. 6, when the Nasdaq Composite inched up another 0.45% to close at a record of 27,599.79. The index has risen 18.5% year to date, highlighting the continued strength of the growth and technology stocks. The latest gains have been particularly notable because they came against a backdrop of elevated Treasury yields, with the 10-year Treasury yield at 5.34%. AI Stocks Drive the Momentum The latest Nasdaq rally has been closely tied to the continued enthusiasm surrounding AI.