US markets hit S&P 500 record amid rising Treasury yields

US stock markets showed resilience despite significant volatility in the bond market. The S&P 500 reached a record closing value, gaining 1.2% over the week, even as the 10-year Treasury yield climbed to 5.33%, its highest level since 2002.

Market sentiment is currently caught between high borrowing costs and enthusiasm for artificial intelligence. However, the AI sector faced scrutiny following reports that OpenAI's projected annual revenue is approximately $50 billion, a figure lower than previous expectations. Additionally, minutes from a September Federal Reserve meeting suggested that most members consider further interest rate hikes through the end of the year to be probable.