LIVE MARKETS-Stocks end mixed as AI names keep Nasdaq, S&P afloat
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STOCKS END MIXED AS AI NAMES KEEP NASDAQ, S&P AFLOAT
The Nasdaq .IXIC and S&P 500 .SPX advanced on Monday, buoyed by gains in Amazon AMZN.O and Nvidia NVDA.O while the Dow retreated, weighed down by UnitedHealth UNH.N and Caterpillar CAT.N.
Amazon climbed about 4% after OpenAI agreed to a seven-year, $38 billion deal to buy cloud services from the retail giant, which will give the AI company access to hundreds of thousands of Nvidia graphics processors to train and run its artificial intelligence models. Nvidia gained 2.2% on the session.
In addition, U.S. President Donald Trump said Nvidia's most advanced chips will be reserved for U.S. companies and kept out of China and other countries.
On the merger front, Kenvue KVUE.N jumped more than 12% after Kimberly-Clark KMB.O agreed to buy the Tylenol maker in a deal valued at about $40 billion.
With the government shutdown on the verge of becoming the longest ever, investors as well as Federal Reserve officials have been dealing with a lack of economic data. On Monday, The Institute for Supply Management (ISM) said its manufacturing PMI fell to 48.7 last month from 49.1 in September, signalling contraction.
Fed officials continued pressing competing views of where the economy stands and the risks facing it, a debate set to intensify ahead of the U.S. central bank's next policy meeting and in the absence of data.
(Chuck Mikolajczak)
EARLIER ON LIVE MARKETS:
SUPREME COURT TARIFF CASE MAY BRING MARKET VOLATILITY CLICK HERE
SHUTDOWN DRAGS ON, BUT GOLDMAN SEES LIGHT AT MID-NOVEMBER CLICK HERE
TRUCE, TOKENS, AND TECH: JEFFERIES UNVEILS THEIR S&P 500 MOONSHOT CLICK HERE
SCHRODINGER'S PMI: IS U.S. FACTORY ACTIVITY EXPANDING OR CONTRACTING? YES CLICK HERE
URANIUM SCARCITY: BANE OR BOON? CLICK HERE
AI REVENUES TO HIT $975 BILLION BY 2030, SAYS CITIGROUP CLICK HERE
FUTURES POINT TO HIGHER OPEN FOR S&P 500, NASDAQ CLICK HERE
THE CONTRADICTION OF RETAIL INVESTORS AND PRIVATE CREDIT - BOFA CLICK HERE
EARNINGS SEASON HALFWAY SCORE: US LEAVES EUROPE FAR BEHIND CLICK HERE
AUTOS BOUNCE BACK, DAX OUTPERFORMS CLICK HERE
BEFORE THE BELL: EUROPE STARTS NOVEMBER STEADY CLICK HERE
PRIVATE JOBS IN SPOTLIGHT AMID DATA BLACKOUT CLICK HERE
Closing levels Nov 3 
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