{"id":277329,"date":"2025-11-11T23:38:08","date_gmt":"2025-11-11T23:38:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/277329\/"},"modified":"2025-11-11T23:38:08","modified_gmt":"2025-11-11T23:38:08","slug":"the-dow-rallies-550-points-to-a-record","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/277329\/","title":{"rendered":"The Dow rallies 550 points to a record"},"content":{"rendered":"\n

NEW YORK (AP) \u2014 Most U.S. stocks rose on Tuesday and carried the market back to where it was before last week\u2019s swoon<\/a>.<\/p>\n

The S&P 500 added 0.2% after erasing a loss taken during the morning. It\u2019s been bouncing around lately, coming off Monday\u2019s vigorous rebound<\/a> following its first losing week in four.<\/p>\n

The Dow Jones Industrial Average rallied 559 points, or 1.2%, to a record, surpassing its prior all-time high set two weeks ago<\/a>. The Nasdaq composite lagged the market, though, as Nvidia<\/a> got back to falling amid continued concerns that stocks caught up in the artificial-intelligence <\/a> frenzy may have become too expensive<\/a>. The Nasdaq dipped 0.3%<\/p>\n

Helping to lead the market was Paramount Skydance, which jumped even though the entertainment giant reported revenue and profit for the latest quarter that fell short of Wall Street\u2019s expectations.<\/p>\n

It was the company\u2019s first earnings report since Skydance closed its acquisition of Paramount in early August, and investors appeared to be encouraged that it raised its cost-cutting target to at least $3 billion from the previous $2 billion. Its stock leaped 9.8%.<\/p>\n

Close behind was FedEx, which climbed 5.4% after it increased its forecast for profit in the current quarter. Instead of expecting growth from just the summer, the delivery company now also expects profit to rise in this year\u2019s holiday-shopping season from last year’s.<\/p>\n

They helped pull the S&P 500 back within 0.6% of its all-time high<\/a>, which was set two weeks ago.<\/p>\n

They also helped offset a 3% drop for Nvidia, which is Wall Street\u2019s most influential stock because of its massive size.<\/p>\n

A major investor in Nvidia, Japanese technology giant SoftBank, said it had sold its entire stake in the AI chip company<\/a> for $5.83 billion last month. SoftBank is not giving up on AI. It\u2019s still focusing on OpenAI, the maker of ChatGPT.<\/p>\n

A big question on Wall Street has been whether investors will push the frenzy around AI stocks further. Their sensational growth has been one of the top reasons the U.S. market has hit records despite a slowing job market <\/a> and still-high inflation<\/a>. But their prices have shot so high <\/a> that critics say they\u2019re reminiscent of the 2000 dot-com bubble, <\/a> which ultimately burst and dragged the S&P 500 down by nearly half.<\/p>\n

CoreWeave, whose cloud platform helps customers running AI workloads, fell 16.3% even though it reported a smaller loss for the latest quarter than analysts expected.<\/p>\n

Its revenue also topped expectations, and financial analysts praised its momentum. But investors seemed to focus instead on supply-chain issues that are delaying a data center and pushing some of CoreWeave\u2019s revenue further into the future.<\/p>\n

Story Continues <\/p>\n

Back on the winning side of Wall Street, BigBear.ai rose 6.1% after reporting better results for the latest quarter than analysts expected. It also said it would buy AskSage, a generative AI platform built for national-security agencies and other highly regulated areas, for $250 million.<\/p>\n

All told, the S&P 500 added 14.18 points to 6,846.61. The Dow rallied 559.33 to 47,927.96, and the Nasdaq composite slipped 58.87 to 23,468.30.<\/p>\n

In stock markets abroad, indexes rose in Europe following a mixed finish in Asia.<\/p>\n

Japan\u2019s Nikkei 225 slipped 0.1% even though SoftBank climbed 2%. Besides the sale of its Nvidia stake, the tech giant also reported a much bigger profit than analysts expected.<\/p>\n

In the U.S. bond market, trading was closed for the Veterans Day <\/a> holiday.<\/p>\n

Yields have been generally rising since Federal Reserve Chair Jerome Powell warned last month that further cuts to interest rates are not a sure thing<\/a>. The Fed has already cut its main interest rate twice this year in hopes of shoring up the slowing job market. But it\u2019s worried that inflation, which has stubbornly remained above the Fed\u2019s 2% target, could reaccelerate.<\/p>\n

What\u2019s making the Fed\u2019s job potentially more difficult is that the U.S. government\u2019s shutdown <\/a> has delayed important updates <\/a> on jobs and other areas of the economy. The Senate has made moves to end <\/a> what\u2019s become the longest-ever shutdown, but it\u2019s not assured.<\/p>\n

That has left the Fed and investors looking at reports coming from sources outside of the government, which have offered a mixed picture.<\/p>\n

A job tracker at Goldman Sachs suggests growth slowed in October from September. After including the effect of a deferred resignation program at the government, U.S. employers overall may have cut 50,000 jobs in October, according to economist David Mericle.<\/p>\n

Such softening in the job market has traders betting on a roughly two-in-three chance that the Fed will cut interest rates at its next meeting in December, according to data from CME Group. Expectations for such cuts, which Wall Street loves because they can goose the economy and investment prices, are another reason stocks have hit records recently.<\/p>\n

___<\/p>\n

AP Business Writers Chan Ho-Him and Matt Ott contributed.<\/p>\n

Stan Choe, The Associated Press<\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK (AP) \u2014 Most U.S. stocks rose on Tuesday and carried the market back to where it…\n","protected":false},"author":2,"featured_media":277330,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,11019,3098,6494,47133,6495],"class_list":["post-277329","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-job-market","tag-nasdaq-composite","tag-nvidia","tag-softbank","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/277329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=277329"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/277329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/277330"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=277329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=277329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=277329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}