Markets Mixed as Dow Hits Record High Amid Shutdown Optimism; Tech Lags

Market Performance Recap - The Dow Jones Industrial Average (DJI) surged 0.7%, or approximately 327 points, closing at a record 48,254.82 points, marking its second consecutive record close [2] - The S&P 500 (SPX) gained 0.1%, remaining close to its all-time high [2] - The Nasdaq Composite (IXIC) slipped 0.3%, or 58.87 points, primarily due to weakness in major technology stocks [3] Driving Factors: Shutdown Relief and Economic Signals - Anticipation of a resolution to the 43-day U.S. government shutdown was the primary catalyst for market movements, with the House expected to vote on a spending bill [4] - The ADP employment report indicated an average of 11,250 jobs cut per week through late October, suggesting a cooling job market and increasing expectations for Federal Reserve interest rate cuts [5] Major Stock News and Movements - Advanced Micro Devices (AMD) surged 9% after projecting robust revenue growth of 35% over the next three to five years [6] - International Business Machines (IBM) rose 0.5%, reaching an all-time high of $324.90, following announcements of breakthroughs in quantum computing [6] - Palantir Technologies (PLTR) fell approximately 5%, impacting the Nasdaq's performance [6] - Major airlines saw gains of 4% to 5% due to hopes of government shutdown resolution, with smaller regional airlines also posting increases [6] - Paramount Skydance (PSKY) was among the biggest decliners, dropping 7% [6] Upcoming Market Events and Earnings - Investors are focused on the final resolution of the government shutdown and the release of U.S. inflation data on November 13, which will influence Federal Reserve policy [7] - Nvidia (NVDA) is set to report earnings on November 19, with retail company performances expected to provide insights into consumer spending [8] Additional Stock Movements - Financial stocks showed strength, with Goldman Sachs Group (GS) up 3.5%, JPMorgan Chase & Co. (JPM) gaining 1.4%, and Morgan Stanley (MS) increasing 2% [11] - On Holdings (ONON) shares surged 24% after reporting strong quarterly results, while Perion Network (PERI) jumped 14% after beating Q3 earnings estimates [11] - Stereotaxis (STXS) tumbled 15% after missing Q3 expectations, and Circle Internet Group, Inc. (CRCL) fell 7% despite better-than-expected Q3 results [11]