The Nasdaq set a record as AI-linked stocks and semiconductors led the market.
Why it matters: The rally shows how concentrated U.S. market leadership remains in AI and chip names, even as the broader market lags. For investors, it highlights how quickly risk appetite can shift when earnings and oil prices ease pressure.
- Reuters said the Nasdaq Composite hit an intraday record high and closed at a record on Sept. 22, 2026.
- Micron rose 5% and Nvidia gained 0.7%, while the S&P 500 was roughly flat, Reuters reported.
- Meta Platforms fell 0.63% after an 11.4% jump the previous day tied to AI momentum, Reuters reported.
- Oil prices fell and Middle East supply fears eased, supporting broader risk appetite, Reuters said.
The Nasdaq Composite hit a record on Sept. 22 as investors kept buying AI-linked stocks, with Reuters reporting that the index reached an intraday high and then finished at a record close. Reuters said the move reflected stronger risk appetite, helped by resilient corporate earnings and continued demand for artificial intelligence.
The advance was led by semiconductors and other large-cap tech names. Micron rose 5% and Nvidia added 0.7%, while the S&P 500 was roughly flat, Reuters reported. That left the rally narrow, with gains concentrated in the same stocks that have dominated much of the market's recent performance.
Reuters also reported that Meta Platforms slipped 0.63% after an 11.4% gain the day before, underscoring how quickly traders are rotating within the AI trade. The Reuters market report said investors were still debating whether the spending behind AI is translating fast enough into profits.
Oil prices fell during the session, easing Middle East supply-risk fears and adding support to sentiment. Reuters tied that backdrop to a broader pickup in risk appetite rather than to a specific conflict claim. Reuters' oil coverage said lower prices helped calm markets as traders assessed the impact on global growth and inflation.
By the numbers
- 5% - Micron's gain in the session, according to Reuters.
- 0.7% - Nvidia's advance, while the S&P 500 was roughly flat, Reuters reported.
- 0.63% - Meta Platforms' decline after an 11.4% jump the prior day, Reuters said.
Yes, but: The rally was concentrated in a small group of megacap tech and chip stocks, so it did not reflect broad market strength.