US EditionGlobal Shares Trade Lower After AI Darlings Prop up Wall Street
AI stocks led by Nvidia and Palantir Technologies gained strongly, with Nvidia up nearly 50% year-to-date, supporting Wall Street despite a 0.5% Dow Jones decline.
- On Monday, Nvidia and other technology stocks propped up Wall Street, with the S&P 500 index rising 11.77 points, or 0.2%, and the Nasdaq composite gaining 109.77 points, or 0.5%.
- Major cloud and chip contracts, led by Microsoft and IREN, boosted IREN 11.5% after a $9.7 billion deal, while Amazon's $38 billion agreement with OpenAI sparked a 4% rally.
- Deal-Driven swings hit consumer-health names as Kimberly-Clark plunged 14.6% after announcing a $48.7 billion Kenvue purchase, while Kenvue jumped 12.3% and Beyond Meat tumbled 16% after delaying its report to Nov. 11.
- A separate manufacturing report on Monday showed weakness, as the Institute for Supply Management survey found activity shrank more last month than expected and manufacturers said tariffs from President Trump create financial pain.
- The chip-maker's strong year-to-date advance suggests narrow leadership as Nvidia was the strongest force lifting the S&P 500 Monday, with two out of every three stocks falling.
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Palantir is once again showing stunning AI growth, but the applause is still lacking. The stock is down nearly 8 percent on Wall Street, as investors had hoped for even more.
Global shares trade lower after AI darlings prop up Wall Street
TOKYO (AP) — Global shares retreated Tuesday despite the big lift in overseas markets from optimism over artificial intelligence technology, as traders sold shares to lock in recent profits. France’s CAC 40 lost 1.3% in early trading to 8,007.48, while Germany’s DAX dipped 1.5% to 23,780.93. Britain’s FTSE 100 slid 0.8% to 9,624.57. U.S. shares were set to drift lower with Dow futures down 0.8% at 47,112.00. S&P 500 futures lost nearly 1.0% to 6…
AI-Related Stocks Prop Up Wall Street
Nvidia and other technology stocks propped up Wall Street on Monday. The S&P 500 rose 11.77 points, or 0.2%, to 6,851.97, even though the majority of stocks within the index fell. The Dow Jones Industrial Average fell 226.19 points, or 0.5%, to 47,336....
The Overnight Report: AI Trade Hits The Skids
This article is part of the daily news updates from FNArena.com. Stay informed with the latest financial, business, and economic insights. Written by Admin US markets retreated as Palantir led the sell-off in the AI trade and technology stocks. ASX200 futures are suggesting the market will reverse yesterday's sell off, pointing to a positive start on Wednesday morning. World Overnight SPI Overnight 8830.00 + 18.00 0.20% S&P ASX 200 8813.70 – …
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