From Kiplinger · · 1m 20s
Stocks Rally as Tech Slumps
Tech stocks dip while broader markets climb.
In brief
Tech stocks dip while broader markets climb. The S&P 500 rose 0.3% as tech stocks fell, with Nvidia down 1.8% and CoreWeave down 64% from its peak. Originally reported by Kiplinger.
Stocks Rally
The S&P 500 rose 0.3% to 7,744 as the Dow Jones Industrial Average gained 1.1% to 52,177.
Treasury Yields Drop
The 2-year Treasury yield fell 4.5 basis points to 4.757% while the 10-year and 30-year yields dropped 9.9 and 9.3 basis points.
PPI Inflation Rises
The Producer Price Index rose 1.3% in September, more than double the expected 0.5% month-over-month increase.
Tech Stocks Fall
Nvidia dropped 1.8% and the VanEck Semiconductor ETF fell 1.0% as it recorded its eighth straight loss.
CoreWeave Slumps
CoreWeave fell 64% from its June 20, 2025, all-time high as concerns about AI returns and debt grow.
Nike's Drop
Nike fell 78.2% from its November 5, 2021, high to $35.30, leading the Dow Jones index.
Market Analysts
Louis Navellier says Treasury yields declined as the PPI may be the peak of poor inflation news.
CoreWeave Analyst
Deutsche Bank analyst Brad Zelnick says CoreWeave's future depends on AI demand and infrastructure performance.
Market Outlook
The S&P 500 is expected to rise 33% as quarterly earnings season concludes.
The bottom line
The S&P 500 rose 0.3% as tech stocks fell, with Nvidia down 1.8% and CoreWeave down 64% from its peak.
