# Nasdaq hits record as tech stocks surge

> The Nasdaq closed at an all-time high Monday, driven by AI chip stocks and falling oil prices amid Middle East tensions.
- Title: Nasdaq hits record as tech stocks surge · CNBC | Shortify
- Summary: The Nasdaq closed at an all-time high Monday, driven by AI chip stocks and falling oil prices amid Middle East tensions. Tech stocks, especially chip makers…
- Keywords: nasdaq, stock market, artificial intelligence, chip stocks, intel, amd, oil prices, treasury yields, middle east, houthis, iran, fed rate hike
- Source: CNBC — https://cnbc.com/2026/09/20/stock-market-today-live-updates.html
- Author: Sean Conlon,Justina Lee,Sarah Min
- Published: 2026-09-20T22:01:52+00:00
- Read time: 3 min
- Topics: nasdaq, stock market, artificial intelligence, chip stocks, intel, amd, oil prices, treasury yields, middle east, houthis, iran, fed rate hike
## Nasdaq closes at record high
The Nasdaq Composite jumped 2.26% to 27,122.09, its first record close since June. The S&P 500 gained 1.49% and the Dow added 0.71%.

> The Nasdaq Composite gained 2.26% for a record close of 27,122.09, its first since June.
## AI chip stocks lead the rally
Intel surged 12%, AMD jumped 10% and hit $1 trillion market cap, and Qualcomm rose over 9% as artificial intelligence demand drives semiconductor gains.

> The broader market was supported by a rise in artificial intelligence-related stocks.
## AMD reaches trillion-dollar milestone
Advanced Micro Devices stock surged to a record high, pushing the chip giant's market value just above $1 trillion for the first time.
## Oil prices fall sharply
U.S. crude dropped 4.5% to $95.78 per barrel, while Brent slid 3.4% to $100.34 as traders assess Middle East supply disruptions.
## Houthis attack Saudi Arabia
Iran-backed Houthis attacked Saudi Arabia with missiles and drones on Saturday, prompting the U.S. State Department to warn Americans against Middle East travel.
## Trump signals openness to Iran talks
President Trump told Fox News he would probably be open to meeting Iranian President Masoud Pezeshkian during this week's UN General Assembly.
## Treasury yields decline
The 10-year Treasury yield fell over 4 basis points to 4.951%, while the 30-year yield dropped to 5.284% as oil prices eased.
## Fed raised rates last week
The Federal Reserve hiked interest rates last week for the first time in three years as it battles sticky inflation and elevated bond yields.
## Energy shock risks inflation
Analysts warn that prolonged Middle East conflict threatens oil production and shipping, potentially triggering second-round inflation effects.

> The longer this energy shock persists, the greater the risk of second-round inflation effects.
## Trump-Xi summit this week
President Trump and Chinese President Xi Jinping will meet during the UN General Assembly to discuss AI, tariffs, and critical minerals.
## Meta paces best day in over a year
Meta Platforms shares jumped nearly 12% in afternoon trading, on track for their best day since April 2025.
## Magnificent Seven ETF hits record
The Roundhill Magnificent Seven ETF reached an intraday all-time high of $71.74 for the second straight day, tracking mega-cap tech stocks.
## Ciena upgraded on AI networking
Evercore ISI upgraded Ciena to outperform, raising its price target to $550 from $375, citing the company's critical role in AI infrastructure.
## Paramount-Skydance merger clears
A settlement was reached between Paramount Skydance and four holdout states, clearing the way for the merger to create the largest U.S. TV network portfolio.
## Greenland stocks surge on Trump deal
Greenland Energy soared 144% and Critical Metals Corp jumped 37% after Trump announced a U.S.-Denmark-Greenland security pact for Arctic military presence.
## Bitcoin hits highest level since January
Bitcoin climbed 4% to $84,671.80, reaching $85,229.44 intraday, its highest level since January, as crypto stocks rally on regulatory clarity.
## Accenture partners with Anthropic
Accenture announced a partnership with AI company Anthropic, with both investing at least $1 billion to build AI capacity.
## Volkswagen exits blue chip index
Volkswagen fell out of the Euro Stoxx 50 index after shares declined 27.5% this year, reflecting deep struggles in Europe's auto sector.
## Seasonal tailwinds support stocks
Strategists note that post-midterm election years historically deliver strong returns, with the S&P 500 averaging over 20% gains in the following 12 months.
## Key takeaway

Tech stocks, especially chip makers, are leading a broad market rally fueled by AI demand and easing energy prices.