Wall Street saw a mixed trading session on Tuesday, with gains in several Big Tech stocks offsetting declines in others. The S&P 500 rose 0.5%, even though more stocks within the index fell than rose. The Dow Jones Industrial Average dropped 247 points, or 0.5%, while the Nasdaq composite climbed 1%. The market has been volatile recently as technology and artificial-intelligence stocks have fluctuated on concerns about their valuations.
Nvidia led the gains, rising 3.2% and providing the strongest upward push for the S&P 500. Other notable performers included Broadcom, up 3.2%, Advanced Micro Devices, up 5.5%, and Micron Technology, up 2.6%. These gains helped stabilize the market after a day of swings the previous afternoon.
Apple, however, fell 2% despite reporting stronger-than-expected profit and revenue for the latest quarter. The company attributed its decline to higher costs for memory chips due to the demand from AI data centers, which reduced its profit margins. Palantir Technologies also dropped 2.1%, even though it reported better-than-expected profits, highlighting a shift in revenue from U.S. government contracts to commercial clients.
Other winners on Tuesday included Celanese, up 4.7%, DuPont, up 8.8%, and Revvity, which jumped 11.7% after surpassing analysts’ expectations. The U.S. job market showed strength with more job openings than expected at the end of September, pushing the yield on the 10-year Treasury up to 4.96%. Oil prices remained volatile, with Brent crude briefly dropping below $101 before settling at $103.27. Internationally, stock markets were lower in Europe and mixed in Asia, with South Korea’s Kospi dropping 3.6%.