The Dow Rallies to a Record As Value Finally Beats Momentum, AI

Core Viewpoint - The Dow Jones Industrial Average reached a new record high as investors favored value stocks over momentum and technology stocks, particularly in the context of recent developments in the AI sector [1][2]. Market Performance - The Dow gained 557 points, or 1.2%, marking its 16th closing high of the year and the first for November [2]. - The S&P 500 saw a slight increase of 0.2%, while the Nasdaq Composite experienced a decline of 0.2% [2]. Sector Analysis - Wall Street's positive sentiment was bolstered by progress towards resolving the government shutdown, although some AI stocks, including Nvidia and Vistra, faced challenges [2]. - The iShares Semiconductor ETF also struggled, indicating a broader impact on the semiconductor sector due to the performance of AI stocks [2].