S&P 500 closes at 7744.09, up 0.33%; Nasdaq 100 flat as yields fall

The S&P 500 closed at 7744.09 on Thursday, up 25.15 points or 0.33% from 7718.94. The Nasdaq 100 ended little changed at 29935.59, down 0.05%.

What happened

The S&P 500 finished the New York session at 7744.09, as of 15:59 New York time on October 15, 2026. The previous close was 7718.94, so the broad index added 25.15 points, or 0.33%.

The Nasdaq 100 was flat. It ended at 29935.59 against a previous close of 29950.82, a change of -15.22 points or -0.05%. The two indexes therefore diverged: the broader gauge advanced, while the technology-heavy index made no progress.

The session ran from 09:30 to 16:00 New York time. The S&P 500 level was recorded one minute before the bell, and the Nasdaq 100 level at 16:00. Both equity moves were modest in size compared with the action in rates, currencies and gold.

Rates, dollar and gold

The 10-year Treasury yield stood at 5.088% in late trading, down 10.3 bp from the previous close of 5.191%. That is a sizable one-day move in the benchmark borrowing cost for the US government.

The US Dollar Index stood at 101.8100, down 0.3700 points or 0.36% from 102.1800. Gold futures stood at 4190.1, up 82.2 points or 2.00% from 4107.9.

A lower yield and a softer dollar often appear together with firmer gold prices, because gold pays no interest and is priced in dollars. That link is general market context, and it is not a stated cause of Thursday's moves.

The size of the gold move stands out. A gain of 2.00% in one day is large for the metal, and it came on a day when the main US stock indexes moved by far less.

Earnings in focus

Bank of New York Mellon reported before the market opened. Earnings per share were 2.37 USD against an estimate of 2.27 USD. Revenue was 5.68 billion USD against an estimate of 5.55 billion USD.

After the close, Interactive Brokers Group reported earnings per share of 0.67 USD, against an estimate of 0.67 USD. Its revenue was 1.91 billion USD against an estimate of 1.86 billion USD.

J.B. Hunt Transport Services also reported after the close. Earnings per share were 1.82 USD against an estimate of 1.81 USD, and revenue was 3.68 billion USD against an estimate of 3.59 billion USD.

The three reports came from a bank that provides custody and asset services, an online brokerage and a trucking and logistics company. They give a small cross-section of the US economy early in the quarterly reporting period. Two of the three reports came after the closing bell, so they could not affect the regular session.

Background: the debate over 8,000

Commentary published on Thursday discussed whether the S&P 500 can reach the 8,000 mark. Analysts quoted there expressed doubt about that path. They pointed to higher oil prices and bond yields, which have added to uncertainty ahead of the midterm elections.

The same commentary said major technology companies have reported mixed results. It also noted a divide between large and small caps. Thursday's session showed a similar split in tone, with the S&P 500 higher and the Nasdaq 100 flat.

With the S&P 500 at 7744.09, the 8,000 mark in that commentary sits above the index close. The yield level is part of that discussion, since the 10-year yield remained above 5% even after Thursday's decline.

Why it matters

The 10-year yield is a reference rate for mortgages, corporate borrowing and the valuation of stocks. A move of 10.3 bp in one session, to 5.088%, changes the backdrop for investors who compare corporate earnings with returns on government bonds.

The dollar index and gold also moved sharply. Gold's 2.00% gain is large for a single day. Together with the fall in yields, it shows that rates and currency markets were active while stock indexes moved modestly.

Earnings add another layer. Bank of New York Mellon posted earnings per share of 2.37 USD against a 2.27 USD estimate, and revenue of 5.68 billion USD against a 5.55 billion USD estimate. J.B. Hunt reported revenue of 3.68 billion USD against an estimate of 3.59 billion USD, and Interactive Brokers reported revenue of 1.91 billion USD against an estimate of 1.86 billion USD. These results come early in the quarterly season, so they cover only a few companies.

For readers outside the United States, the US 10-year yield and the dollar index are reference points for global funding costs and currency markets. Changes in either one can affect pricing in many other markets.

What to watch next

Market participants will look at how Interactive Brokers and J.B. Hunt shares trade in the next session, after their after-hours reports. They will also follow whether the 10-year yield stays near 5.088% or moves back toward the 5.191% level of the prior close.

Further quarterly reports from large technology companies are likely to shape the debate over the large-cap and small-cap divide. The midterm elections are another source of uncertainty cited by analysts, along with the path of oil prices and bond yields.

The next sessions will also show where gold stands relative to 4190.1 and where the dollar index stands relative to 101.8100, after both moved sharply on Thursday. The S&P 500 and the Nasdaq 100 will also be measured against their latest levels of 7744.09 and 29935.59.