On Tuesday, most U.S. stocks rose, with the S&P 500 up 0.2% despite earlier losses, while the Dow Jones Industrial Average surged 559 points (1.2%) to an all-time high. The Nasdaq Composite lagged, falling 0.3%, largely due to a 3% decline in Nvidia stock amid concerns over high valuations in the AI sector.
Paramount Skydance’s stock rose 9.8% despite underperforming in sales and profits, thanks to increased cost-cutting targets. FedEx also boosted its stock by 5.4% after raising profit expectations for the upcoming holiday season. Overall, the S&P 500 added 14.18 points, while the Dow reached $47,927.96, and the Nasdaq dropped to $23,468.30.
In global markets, European stocks rose, while Japan’s Nikkei fell slightly. Bond yields have been rising as concerns about inflation remain, particularly with the Federal Reserve’s cautious stance on future interest rate cuts. Speculations suggest a two-thirds chance of rate cuts at the Fed’s next meeting in December, as traders respond to a mixed job market report.
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