Why Markets Are Buoyant — and Under Pressure

Andrew here. Despite all the hand-wringing about the economy and its prospects, the stock market hit another record high. Why? Earnings and the expectation of future profits continue to beat estimates, even as interest rates creep up. The real question is no longer whether the bears are wrong, but how long the huge corporate spending boom can defy the gravity of rising borrowing costs.

Also: Lauren Hirsch has a scoop on the sale of the Chrysler Building to Tishman Speyer, bringing the famous skyscraper under the same ownership as Rockefeller Center. More below.

Worries about the status quo

U.S. stock futures are pointing down this morning, after the SP 500 set yet another record on Tuesday.

Analysts still expect major indexes to keep climbing. Yet the economic risks that have dogged markets in recent weeks, including rising bond yields and energy prices, don’t appear to be going away anytime soon.

Article source: https://www.nytimes.com/2026/10/07/business/dealbook/stocks-record-energy-ai.html