**[AI Giants Bolster U.S. Stock Market Resilience, S&P 500 Closes Above 7800 Points for the First Time, Setting a Historic High]** BlockBeats News, October 7 — According to BIT (bit.com) market data, the S&P 500 index reached an intraday high of 7844.52 points on Tuesday, setting a new all-time record, and closed above 7800 points for the first time. Meanwhile, the 10-year U.S. Treasury yield surpassed 5.3%, marking its highest level since 2002, and oil prices climbed back above $100 per barrel. Despite the Federal Reserve's ongoing rate hike cycle, U.S. stocks continue to break records under multiple macroeconomic pressures. The market rally was primarily driven by large-cap tech stocks and the AI sector. The "Big Seven" — NVIDIA, Alphabet, Amazon, Apple, Meta, Microsoft, and Tesla — collectively account for over 34% of the S&P 500's market capitalization, with their combined market value reaching approximately $25 trillion on Tuesday, a historic high. NVIDIA rose 4.5% over the past week, while Meta has surged 24% since August 13. At the same time, market breadth continues to narrow. On Tuesday, fewer than half of the S&P 500 components closed above their 200-day moving average, with small-cap stocks and the S&P 500 equal-weight index underperforming the broader market. Analysts point out that amid persistent interest rate and inflation pressures, the strong earnings, substantial capital expenditures, and robust balance sheets of AI giants are becoming key factors supporting U.S. stocks. However, the market's increasing reliance on a handful of large-cap tech stocks is also intensifying. [Original Link]