Nasdaq Rises as Retreating Oil Prices and Tech Recovery Lift Markets

Key Facts

1The Nasdaq Composite opened 172 points higher as oil prices retreated following easing Middle East escalation concerns.

2Telecom shares declined following the impact of SpaceX's latest spectrum deal on the industry.

The Nasdaq Composite opened 172 points higher as oil prices retreated following easing Middle East escalation concerns. Invezz reported that the tech-heavy index was supported by a recovery in AI-related stocks, even as telecom shares declined due to the impact of SpaceX's latest spectrum deal on the industry.

NDAQ closed at $92.37 on October 8, 2026, reaching a day high of $92.69. This market action follows recent economic data, including the US Balance of Trade which reported a deficit of $105.6 billion on October 6, 2026, and the ISM Services PMI which stood at 54.9 on October 5, 2026.