Post-Bell | Wall Street Indexes Close Higher. Nvidia Jumps 3%; Pfizer, UiPath Climb 7%; CoreWeave Surges 12%; Wolfspeed Soars 29%; Firefly Aerospace Falls 21%

Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's interest rate policy outlook.

Market Snapshot

The Dow Jones Industrial Average rose 81.82 points, or 0.18%, to 46,397.89, marking its latest record closing high. The S&P 500 gained 27.25 points, or 0.41%, to 6,688.46 and the Nasdaq Composite gained 68.86 points, or 0.3%, to 22,660.01. UiPath up 7%; NIO Inc. up 6%;

Market Movers

Wolfspeed rose 29% to $28.60 after the chip company said it had emerged from Chapter 11 bankruptcy. Wolfspeed said it has reduced its total debt by about 70% and lowered its annual cash interest expense by roughly 60%. "In addition, the company believes that it maintains ample liquidity to continue supplying customers with leading silicon carbide solutions," Wolfspeed said. The company issued new shares on Monday as it switched its incorporation to Delaware from North Carolina.

Nvidia was up 2.6% to $186.58. KeyBanc raised its price target on the stock to $250 from $230, reiterating an Overweight rating, citing momentum for rack shipments, and potential to maintain its competitive advantage among rival chip makers, among other things.

Intel fell 2.7%, extending losses from Monday, when the stock declined 2.9%. Shares of the chip maker have gained nearly 40% over the past month after Nvidia vowed to invest $5 billion in the company, and speculation mounted that iPhone maker Apple and Taiwan Semiconductor Manufacturing could follow.

CoreWeave, the artificial-intelligence cloud service provider, surged 12% after landing a $14.2 billion AI cloud-computing agreement with Meta Platforms. Meta will pay the $14.2 billion through Dec. 14, 2031, with the option to extend its commitment through 2032 for additional cloud computing capacity, CoreWeave said. Meta fell 1.2%.

Pfizer climbed 6.8%. CEO Albert Bourla and President Donald Trump announced a plan to lower prices on several of the company's medications in the U.S. during a White House event Tuesday. The White House separately unveiled a direct-to-consumer website for Americans to buy drugs called TrumpRx.

Boeing was down 0.6% after The Wall Street Journal reported that it was planning a new jet to replace the 737 MAX. The move could commit the company to billions of dollars and multiple years of product development. The payoff would likely be an improved market share in key markets. It comes after the 737 MAX jet has faced several issues, including two deadly crashes in 2018 and 2019.

Spotify fell 4.2% after the music-streaming company said CEO Daniel Ek plans to step down. Alex Norström and Gustav Söderström, Spotify's co-presidents, will become co-CEOs on Jan. 1.

Lamb Weston rose 4.3%. The maker of frozen potato products reported fiscal first-quarter earnings that topped analysts' estimates. Sales rose 0.3% to $1.66 billion, slightly ahead of estimates of $1.62 billion.

Robinhood Markets was up 4.7%. Shares of the brokerage platform rose 12% on Monday to close at $136.72, a record high. Robinhood stock has been boosted by developments in both its ultraluxury banking service and football prediction markets. Shares have soared 284% in 2025.

Firefly Aerospace Inc. cratered 21% after a rocket booster at the company's facility in Briggs, Texas, exploded. The company said it was assessing the incident's impact on its booster test stand at the site. "During testing at Firefly's facility in Briggs, Texas, the first stage of Firefly's Alpha Flight 7 rocket experienced an event that resulted in a loss of the stage. Proper safety protocols were followed, and all personnel are safe," the company said.

Market News

Government Heads for Shutdown as Rival Votes Fail in Senate

The federal government was on course to shut down early Wednesday, after Senate Republicans and Democrats rejected rival proposals that would have prevented the first lapse in funding since President Trump’s first term.

Trump issued new threats to Democrats on Tuesday while also signaling he could be open for more discussions regarding their demands for healthcare funding, a day after meeting with congressional leaders of both parties at the White House. Disagreements among Republicans on healthcare policy and pressure on Democrats from the party’s left flank mean any deal would likely wait until after the shutdown begins at 12:01 a.m.

Berkshire in Talks to Buy Occidental's OxyChem for About $10 Billion, WSJ Reports

Warren Buffett's Berkshire Hathaway is in talks to buy Occidental's OxyChem petrochemical unit for about $10 billion, the Wall Street Journal reported on Tuesday citing people familiar with the matter.

The potential sale of the OxyChem unit, which supplies products used in medical care, food security and construction, would add to a series of divestitures that Occidental has pursued in recent years in a bid to raise cash.

Apple, Google, Meta Must Face Lawsuits over Casino-Style Gambling Apps

A federal judge on Tuesday denied Apple, Alphabet and Meta Platforms, Inc.'s requests to dismiss lawsuits claiming they promoted illegal gambling by hosting and accepting commissions from casino-style apps that addict users.

U.S. District Judge Edward Davila in San Jose, California, rejected the companies' main argument that Section 230 of the federal Communications Decency Act, which protects online platforms from liability over third-party content, shielded them from the proposed class actions.