Nasdaq hits new high
The Nasdaq Composite scored a new all-time intraday high in morning trading on Tuesday, rising about 0.5% to 27,250.92.
This marks the index’s first since June 1, 2026 and comes after it scored a record close in the prior trading day — its first since June 2, 2026.
Nasdaq Composite, 1-day
— Nick Wells and Sean Conlon
Stocks open higher
The three major averages rose on Tuesday morning.
The S&P 500 gained 0.1%, along with the Nasdaq Composite, just after the opening bell. The Dow Jones Industrial Average added 185 points, or 0.4%.
— Sean Conlon
Rosenblatt says buy Sandisk
In this photo illustration, SanDisk memory cards are displayed on January 30, 2026 in San Anselmo, California.
Justin Sullivan | Getty Images
Sandisk could punch well above $2,000 per share as its memory hardware becomes increasingly critical to artificial intelligence models, according to Rosenblatt.
The investment firm initiated coverage of the data storage manufacturer with a buy rating. It also put a $2,400 price target on shares, implying 36% upside from Monday’s close.
“New AI compute platforms are creating an opportunity to reposition NAND Flash (NAND) from a commodity storage medium to a more system-critical component of AI infrastructure,” analyst Kevin Cassidy said Monday in a note to clients.
CNBC Pro subscribers can read more here.
— Liz Napolitano
Alibaba, Quest Diagnostics and Vicor among the stocks making premarket moves
Check out the companies making headlines before the bell:
- Alibaba — Shares popped more than 3% after CEO Eddie Wu said at the company’s Apsara Conference that Alibaba Cloud plans to operate more than 20 gigawatts of data centers globally by 2032, according to FactSet. He also launched the Zhenwu V900 chip.
- Quest Diagnostics, Labcorp Holdings — The two providers of diagnostics services dropped more than 5%, each, after the Centers for Medicare & Medicaid Services released a report showing that Medicare has been paying 16% more for laboratory services than private payors. The federal entity said that it will align most Medicare payments with the private sector rates.
- Vicor — Shares rallied 9% after the power electronics company issued third quarter guidance, saying it forecasts sequential revenue growth of more than 20% quarter over quarter, versus prior guidance of nearly 10%.
Read the full list here.
— Sarah Min
Stocks bounce as report fuels hopes of Hormuz reopening
Daily life continues in the strategic port city of Bandar Abbas on the Strait of Hormuz amid ongoing tensions between Iran and the United States, as Iranians spend time along the cityâs waterfront at sunset in Bandar Abbas, Iran on September 12, 2026.
Fatemeh Bahrami | Anadolu | Getty Images
European stock markets turned positive, with the benchmark Stoxx 600 index last up 0.2%, following reports in Japanese media that Iran has offered to reopen the Strait of Hormuz within 7 days if the U.S. takes steps toward de-escalation. CNBC has not independently confirmed the report, attributed to Japanese wire service Kyodo.
U.S. futures also moved from slightly negative toward the flatline, with Dow Jones Industrial Average futures climbing from a 0.25% loss to 0.04% gain.
— Jenni Reid
European stocks on the move: Kingfisher, Ericsson
Kingfisher shares popped 8.6% in early trading after the British retailing group upgraded its adjusted profit before tax full-year guidance in half-year results posted Tuesday.
Swedish telecoms firm Ericsson slid 3.5% after analysts at Morgan Stanley downgraded the stock to underweight from equal weight and reduced its price target.
European equities were broadly negative, with the regional Stoxx 600 index down by 0.2% following a 1.02% gain on Monday, its best session since July 2.
Stoxx 600 index.
UK borrowing rises more than expected ahead of new PM’s first budget
Britain’s newly appointed Prime Minister Andy Burnham looks on as he delivers a speech outside 10 Downing Street after taking office, in London, Britain, July 20, 2026.
Isabel Infantes | Reuters
U.K. public sector net borrowing rose by around a fifth year-on-year in August to £18.3 billion ($24.5 billion), the Office for National Statistics said Tuesday, adding to pressure on the new government of Prime Minister Andy Burnham ahead of the Oct. 28 budget.
Economists polled by Reuters forecast a £15.5 billion deficit.
U.K. debt was steady at just below £3 trillion, but fell as a share of gross domestic product by 1.3 percentage points to 93.8%.
“Borrowing remains stubbornly high despite the fact the U.K. already has an historically heavy tax burden,” Joe Nellis, head of economic research at MHA, said in emailed comments. “Higher inflation is impacting spending on public-sector pay, state benefits and pensions.”
Higher U.K. government borrowing costs have eroded the government’s fiscal headroom at a time when it has “substantial commitments on public services, defence and investment,” Nellis added.
“Without stronger and sustained economic growth to deliver improvement in revenues, the choices on 28 October are clear stark: higher taxes, cuts in public sector spending or additional borrowing.”
The U.K. economy has grown more strongly than expected this year, but economists warn the impact of higher energy costs related to the Iran war could drag in the second half of the year.
— Jenni Reid
European stocks move lower
Stocks listed in Europe moved lower in early trading on Tuesday, with the regional Stoxx 600 index down 0.1% by 8:22 a.m. in London (3:22 a.m. ET).
Major bourses dipped into negative territory, with Germany’s DAX leading losses. Sectors were mixed, with regional equity performance dragged lower by losses in the insurance and financial services sectors.
— Chloe Taylor
South Korea’s Kospi rises 0.2% amid muted gains in other Asian markets
South Korea’s Kospi rose 0.15% to 7,017.91, while Australia’s benchmark S&P/ASX 200 gained 0.30% to 8,757.80.
Hong Kong’s Hang Seng index was marginally higher in the last hour of trading on Tuesday, while mainland China’s CSI 300 closed 0.11% higher at 4,544.59.
Japan’s markets were closed for a holiday.
— Justina Lee
Alibaba shares jump as new AI chip, data center buildout plans unveiled
The Alibaba logo is pictured during a tour at the Alibaba office in Beijing on April 1, 2026.
Wang Zhao | Afp | Getty Images
Shares of Alibaba jumped around 3% in Hong Kong on Tuesday after the Chinese technology giant unveiled a new artificial intelligence chip and plans to sharply expand its data center footprint, stepping up its bet on the infrastructure powering the AI boom.
At its cloud unit’s annual flagship Apsara Conference in Hangzhou, Alibaba introduced the Zhenwu V900, its next-generation AI chip that it said delivers three times the performance of its predecessor, the Zhenwu M890 released in May.
The company also announced plans to expand Alibaba Cloud’s global data center capacity to more than 20 gigawatts by 2032 as part of a broader roadmap spanning chips, cloud infrastructure and AI models.
— Jenny Lee and Evelyn Cheng
European bond yields creep higher
European government borrowing costs are slightly higher after tumbling on Monday amid investor optimism over better-than-expected crude oil supply.
France’s 10-year benchmark bond yield fell by 9.77 basis points on Monday, the German 10-year yield dropped 6.81 basis points, while the payout on U.K. 10-year gilts dropped 8.23 basis points, according to LSEG data. One basis point is equal to 0.01%, and yields move in the opposite direction to prices.
However, short- and long-dated yields traded broadly higher Tuesday as investors assessed the potential for another flare-up in tensions between the U.S. and Iran, sending crude prices higher.
France’s fiscal position is in focus after the OAT-Bund spread, a measurement of France’s borrowing costs over Germany’s used to gauge investor risk perception, breached the psychological threshold of 100 basis points on Friday.
Alibaba shares jump as new AI chip, data center buildout plans unveiled
Shares of Alibaba jumped around 3% in Hong Kong on Tuesday after the Chinese technology giant unveiled a new artificial intelligence chip and plans to sharply expand its data center footprint, stepping up its bet on the infrastructure powering the AI boom.
At its cloud unit’s annual flagship Apsara Conference in Hangzhou, Alibaba introduced the Zhenwu V900, its next-generation AI chip that it said delivers three times the performance of its predecessor, the Zhenwu M890 released in May.
The company also announced plans to expand Alibaba Cloud’s global data center capacity to more than 20 gigawatts by 2032 as part of a broader roadmap spanning chips, cloud infrastructure and AI models.
Taiwan benchmark Taiex rises to record intraday high as tech stocks advance
Taiwan’s benchmark Taiex rose to a record intraday high of 48,601.53 on Tuesday, driven by gains in the tech sector, following an AI-driven rally on Wall Street which was supported by investor optimism over early signs of success for Meta’s AI agent.
Shares of Taiwan chip manufacturing giant TSMC rose 0.40%, while MediaTek gained 7.88% and Delta Electronics rose by 2.67%. The three stocks — all semiconductor industry giants — are the largest companies by market capitalization on the Taiex index.
The Taiex intraday high on Tuesday came around three months after it hit a record high in June. Investors have been seeing strong overall growth in Taiwanese stocks so far this year, thanks to the AI boom and the country’s position as one of the world’s most critical semiconductor and hardware supply chains.
— Justina Lee
Mainland China and Hong Kong shares open higher
Mainland China and Hong Kong shares opened higher Tuesday, tracking broad gains among other Asian markets.
Hong Kong’s Hang Seng index gained 0.21%, while mainland China’s CSI 300 was 0.83% higher.
The gains in Hang Seng were led by technology and healthcare sectors, up 1.60% and 0.43%, respectively. Among Chinese tech giants, Tencent advanced 3%, Alibaba added nearly 2% and Xiaomi was 1.45% higher.
— Justina Lee
Asia-Pacific markets open higher
Asia-Pacific markets traded higher early Tuesday.
The Kospi advanced 2.20% at the open, while the small-cap Kosdaq added 1.12%.
Australia’s benchmark S&P/ASX 200 was 0.30% higher.
Japan’s markets are closed for a holiday.
— Justina Lee
Asia-Pacific markets set to open higher, tracking Wall Street gains
Asia-Pacific markets were set to open higher Tuesday, tracking U.S. markets’ gains that were buoyed by artificial intelligence-related stocks.
Hong Kong’s Hang Seng index futures were at 25,118, compared with the index’s last close of 25,042.71.
Futures for Australia’s S&P/ASX 200 last traded at 8,809, while the index closed at 8,731.90.
Japan’s markets are closed for a public holiday on Tuesday.
Oil prices fell Monday after President Donald Trump reportedly decided against bombing Yemen for now, and had also indicated he was open to diplomacy with Iran.
Meanwhile, traders are also keeping watch for developments relating to President Trump and Chinese leader Xi Jinping’s meeting later this week in Washington, where they are expected to discuss ways to strengthen their fragile trade truce.
— Justina Lee
A worrisome development emerges beneath Monday’s rally
A surge in tech giants lifted the S&P 500 1.5% in Monday’s regular trading, but a closer look at the index reveals some troubling developments.
More stocks within the broad market index tumbled to fresh 52-week lows on Monday than rose to 52-week highs. This happened even as the S&P 500 sits less than 1% away from its all-time high.
The last time the index gained 1% to land within 1% of a fresh 52-week high with new lows outnumbering new highs was in December 1999, according to Jason Goepfert, founder of SentimenTrader.
Read more here from CNBC’s Sean Conlon on what’s worrying traders even as the market surges.
— Darla Mercado
Stock futures open flat on Monday evening
U.S. equity futures were little changed as trading opened at 6 p.m. in New York.
Futures linked to the S&P 500 inched down 0.05%, while Dow futures slipped 13 points, or 0.02%. Nasdaq-100 futures advanced 0.02%.
— Darla Mercado
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