US DJIA Rises 559 Points or 1.2% to Reach All-Time High; Nasdaq Pressured by Chip Stocks
US Stock Market Performance: The DJIA reached a record close, gaining 559.33 points (1.18%), while the S&P 500 rose slightly by 14.18 points (0.21%). In contrast, the Nasdaq fell by 58.87 points (0.25) due to concerns over AI stock valuations.
Employment Data: The ADP Employment Change for October showed an increase of 42,000 jobs, surpassing expectations and significantly improving from the previous decline of 32,000.
Stock Movements: Pharmaceutical stocks like Merck and Amgen saw significant gains, while Nvidia shares dropped nearly 3% after SoftBank's sale. CoreWeave's stock plummeted 16% after lowering its revenue forecast.
Notable Stock Changes: Apple shares increased by 2.2%, while Advanced Micro Devices and Arm Holdings fell by 2.7% and 3.3%, respectively. Tesla also experienced a decline of 1.3%.
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