Stock Market Mixed: S&P Hits Week High, Nasdaq Dips

US stocks had a mixed day, with the S&P five hundred and Dow Jones Industrials hitting new highs, while the Nasdaq one hundred dipped due to AI and semiconductor stocks. The broader markets positive movement was driven by hopes of a US government shutdown resolution. However, the Nasdaq faced headwinds with CoreWeaves stock falling by over 16% and Nvidias stock dropping by 2% after SoftBank sold its stake. The market also grappled with a weakening labor market and a six-month low in small business optimism. Despite this, the market expects another rate cut in December, as 82% of S&P five hundred companies beat earnings forecasts in the third quarter.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.