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Why the Nasdaq 100 Gave Back Its Micron Spike as Treasury Yields Hit a 2002 High – NAS100 CFD Analysis
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Vantage Editorial Team >
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Updated Thu, 2026 October 8 07:20
Key Takeaways
- Vantage NAS100 CFD moved from near 30,920 at around 06:00 (UTC) to near 30,300 at around 15:00 (UTC) on 1 October 2026, a range of roughly 2%.
- The US 10-year Treasury yield touched 5.34% on 1 October, its highest since 2002, before ending near 5.24%.
- As of 01:45 (UTC) / 09:45 (GMT+8) on 2 October 2026, the CFD stood at 30,584.00, above its hourly 50-period (30,542.56) and 200-period (30,502.15) moving averages.
Micron posted a record year, and the cash Nasdaq 100 closed 1 October just 0.31% higher, at 30,501.56. 1 Vantage NAS100 Contract for Difference (CFD) ran to near 30,920 on 1 October, surrendered about 620 points by the New York morning, and stood at 30,584.00 as of 01:45 (UTC) / 09:45 (GMT+8) on 2 October 2026. The Nasdaq Composite index added only 0.04%, to 26,871.60. 2 That is a lot of mileage for very little distance.
So where did the rally go? Our read: the bond market took it. This piece follows the trail from Micron to the 10-year yield to the Nasdaq chart today. For anyone following NAS100 news into tonight’s jobs report, that trail matters more than headlines.
Why Did the Nasdaq 100 Fade After Micron’s Beat?
Vantage NAS100 CFD gave back most of its Micron-led spike as the 10-year Treasury yield touched 5.34% on 1 October, its highest since 2002. The CFD peaked near 30,920 in Asian hours, slipped near 30,300 in New York, and stood at 30,584.00 by 09:45 (GMT+8).
Two Sessions, Two Moods: NAS100 CFD on 1 to 2 October 2026
| Session | Time (GMT+8) | NAS100 CFD | What Was in the Headlines |
| Asian Session Peak | Around 14:00, 1 October | Near 30,920 | Micron’s earnings beat and above-consensus guidance |
| US Session Low | Around 23:00, 1 October | Near 30,300 | 10-year yield near multi-decade highs after touching 5.34% earlier |
| Cut-Off | 09:45, 2 October | 30,584.00 | 10-year yield ended 1 October near 5.24% |
Source: Vantage NAS100 CFD feed via TradingView (hourly chart); yield data from CNN; company news from Investing.com. Data as of 01:45 (UTC) / 09:45 (GMT+8) on 2 October 2026.
Micron’s Record Year Lit Up the Asian Session
Micron news rarely gets louder than this. Micron’s fiscal 2026 revenue reached $133.19 billion, against $37.38 billion a year earlier, per its US Securities and Exchange Commission filing. 3 Fourth-quarter adjusted earnings of $33.42 a share beat the $31.16 expected, and current-quarter guidance of $38.15 topped the $36.02 consensus. 4
Asia got the first look. On the Nasdaq index chart, the NAS100 CFD peaked near 30,920 around 06:00 (UTC), mid-afternoon in Kuala Lumpur and Singapore, with the Relative Strength Index (RSI) near 73 in the TradingView setup used for this analysis. By 04:48 (ET), Nasdaq 100 futures were still up 0.29% while Dow futures fell 0.52%. 5
Then Europe opened, and the bond market went the other way.
Treasury Yields at a 2002 High Capped the Tech Rally
The 10-year Treasury yield touched 5.34% on 1 October, its highest since 2002, before ending near 5.24%. That came after the Federal Reserve (Fed) raised rates in September for the first time since 2023. 6 Saxo strategist Neil Wilson summed it up: “The worry is that US growth is way stronger than expected.” 6 Early on 1 October, overnight-indexed swaps fully priced another Fed hike by year-end, Bloomberg reported. 7
Higher yields tend to weigh on growth stocks, whose value sits further in the future. The Nasdaq 100 index traded at 30,355.04 at midday on 1 October, down 0.18% on the day but up 20.22% year to date. 8 Micron shares were down 1.6% by midday, record quarter notwithstanding. 8
Tracie McMillion of the Wells Fargo Investment Institute framed the test as “whether that earnings strength can continue as borrowing costs remain elevated”. 9 The irony: Bloomberg also linked part of the extra demand for capital pushing borrowing costs higher to AI infrastructure investment. 7
The same AI spending that powered Micron’s record year is part of what pushed the cost of capital higher.
Yields explain the fade. They do not explain where the dip stopped.
The Nasdaq Chart Today: Averages Held, Momentum Went Neutral
The 1 October low near 30,300 printed around 15:00 (UTC), during the New York morning. The dip briefly undercut both hourly moving averages, then climbed back as yields eased from their highs. At the 09:45 (GMT+8) cut-off, the Nasdaq price of 30,584.00 sat above the 50-period moving average at 30,542.56 and the 200-period at 30,502.15.
RSI read 51.13 against its signal line at 48.19 at the same cut-off, about as undecided as a 0 to 100 scale allows. Put simply, the Nasdaq index today shows a price recovery and momentum that declined to pick a side.
Nasdaq 100 Today: Levels Traders Are Watching, as of 09:45 (GMT+8), 2 October 2026
| Level | Where It Sits | What It Marked |
| 1 October High | Near 30,920 | Asian-session peak after Micron’s results, around 06:00 (UTC) |
| 2 October Early High | Near 30,690 | Upper wick around 00:00 (UTC) |
| 50-Period MA (H1) | 30,542.56 | Price sat above it at the cut-off |
| 200-Period MA (H1) | 30,502.15 | Rose through the week shown |
| 1 October Low | Near 30,300 | US-session trough, around 15:00 (UTC) |
| 24 and 28 September Lows | Near 30,120 | Lowest points on the chart shown |
Reference levels only. Not trade signals. Source: Vantage NAS100 CFD feed via TradingView, hourly chart, cut-off 01:45 (UTC) / 09:45 (GMT+8) on 2 October 2026.
The next vote comes from the US labour market, at 20:30 (GMT+8).
Nasdaq Today: Payrolls Put the Rate Story Back in Charge
What lands next for the Nasdaq stock market today and beyond:
- Nonfarm Payrolls (NFP), 2 October 2026, 12:30 (UTC) / 20:30 (GMT+8): MUFG’s Agron Nicaj and George Goncalves forecast 90,000 jobs (Bloomberg contributor median: 85,000) and wrote that a consensus print is “unlikely to elicit a strong market reaction”. 10
- US Consumer Price Index, 14 October 2026: September inflation data lands two weeks later.
- Fed Rate Decision, 28 October 2026: It is the next scheduled policy update.
The bond-ceiling read weakens if the Nasdaq holds gains on a day the 10-year yield climbs. It holds while the two keep moving apart.
Micron handed the Nasdaq a record year, and the bond market appeared to decide what it was worth by New York midday. For the NAS100 and the wider Nasdaq market index, payrolls and the yield’s reply are the next Nasdaq news to watch.
A 620-point session swing shows how fast index CFDs can move around data. A Stop Loss can help limit a loss to a planned size, but prices can gap past it in fast markets, so the fill may differ from the level set.
Leverage is double-edged: it magnifies losses as much as gains on the NAS100 CFD. A position sized for a quiet session can carry very different risk on payrolls day, which is why many traders frame exposure as a percentage of account equity, as our risk management guide explains.
RISK WARNING: CFDs are complex financial instruments and carry a high risk of losing money rapidly due to leverage. You should ensure you fully understand the risks involved and carefully consider whether you can afford to take the high risk of losing your money before trading.
Disclaimer: The information is provided for educational purposes only and doesn’t take into account your personal objectives, financial circumstances, or needs. It does not constitute investment advice. We encourage you to seek independent advice if necessary. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No representation or warranty is given as to the accuracy or completeness of any information contained within. This material may contain historical or past performance figures and should not be relied on. Furthermore estimates, forward-looking statements, and forecasts cannot be guaranteed. The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
References
[1] “NASDAQ-100 (^NDX) Historical Data – Yahoo Finance” https://finance.yahoo.com/quote/%5ENDX/history/ Accessed on 2 October 2026.
[2] “S&P 500 closes higher to start October as Treasury yields retreat from multiyear highs: Live updates – CNBC” https://www.cnbc.com/2026/09/30/stock-market-today-live-updates.html Accessed on 2 October 2026.
[3] “Micron Technology, Inc. Fiscal Q4 and Full-Year 2026 Results, Form 8-K Exhibit 99.1 – US Securities and Exchange Commission” https://www.sec.gov/Archives/edgar/data/0000723125/000072312526000018/a2026q4ex991-pressrelease.htm Accessed on 2 October 2026.
[4] “U.S. stock futures extend gains, Nasdaq up 1% following strong Micron earnings – Investing.com via Yahoo Finance” https://sg.finance.yahoo.com/news/u-stock-futures-rise-following-011351103.html Accessed on 2 October 2026.
[5] “Dow futures hit three-month low as yields surge, Micron earnings offer support – Reuters via Investing.com” https://www.investing.com/news/economy-news/dow-futures-hit-threemonth-low-as-yields-surge-micron-earnings-offer-support-4926657 Accessed on 2 October 2026.
[6] “Bond market bust: A key rate just blew through another decades-old record – CNN” https://www.cnn.com/2026/10/01/business/bond-market-treasury-yields Accessed on 2 October 2026.
[7] “Treasury 10-Year Yield Hits Highest Since 2002 on Rate Outlook – Bloomberg via Yahoo Finance” https://finance.yahoo.com/economy/policy/articles/treasury-10-yield-hits-highest-072955743.html Accessed on 2 October 2026.
[8] “Stock Market Today: S&P 500 Slips as Micron Fails to Impress, 10-Year Yields Ease to 5.25% – Benzinga” https://www.benzinga.com/markets/equities/26/10/62114603/sp-500-slips-micron-fails-to-impress-markets-thursday Accessed on 2 October 2026.
[9] “AI stocks lead gains as Dow, S&P 500 open October higher – Quartz” https://qz.com/dow-sp500-nasdaq-october-gains-ai-stocks-100126 Accessed on 2 October 2026.
[10] “US Labor Update: September 2026 NFP Preview – MUFG Research” https://www.mufgresearch.com/macro/us-labor-update-october-1-2026 Accessed on 2 October 2026.
The information has been prepared as of the date published and is subject to change thereafter. The information is provided for educational purposes only and doesn't take into account your personal objectives, financial circumstances, or needs. It does not constitute investment advice. We encourage you to seek independent advice if necessary. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No representation or warranty is given as to the accuracy or completeness of any information contained within. This material may contain historical or past performance figures and should not be relied on. Furthermore estimates, forward-looking statements, and forecasts cannot be guaranteed. The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
