A blue wave in the midterm elections took the tide of investors sharply higher before a riptide pulled the different indexes sharply lower with AI-related stocks getting washed out.
A blue wave in the midterm elections took the tide of investors sharply higher before a riptide pulled the different indexes sharply lower with AI-related stocks getting washed out.
The major averages finished mixed today after investors moved in and scooped up beaten down technology and semiconductor stocks following yesterday's drubbing.
Buying in big cap technology stocks at the start of the fourth quarter (Q4) pushed the S&P 500, NASDAQ and NASDAQ 100 (NDX) to new all-time highs. However, disappointing earnings reports and growing concerns about the sustainability of AI-related cash flows triggered a late-month technology selloff
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| Index | Close | Day Change | Day % Change | YTD % Change |
|---|---|---|---|---|
| NASDAQ COMPOSITE | 24579.42 | 264.42 | 1.09% | 5.75% |
| DJ UTILITIES | 1100.49 | -5.08 | -0.46% | 3.04% |
| DJ TRANSPORT | 19774.87 | -314.1 | -1.56% | 13.93% |
| DJ INDUSTRIALS | 51285.73 | -237.33 | -0.46% | 6.7% |
| NYSE COMPOSITE | 23950.37 | -5.61 | -0.02% | 8.85% |
| S & P 100 INDEX | 3635.84 | 16.34 | 0.45% | 5.93% |
| RUSSELL 2000 | 2754.11 | 24.22 | 0.89% | 10.97% |
| S&P 500 | 7376.86 | 23.13 | 0.31% | 7.76% |
| CBOE MKT VOLATILITY | 25.64 | -2.54 | -9.01% | 71.51% |
| AMEX COMPOSITE | 8039.15 | -1.48 | -0.02% | 17.07% |
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