Overview
- ADP said private-sector employment rose by 42,000 in October, rebounding from a revised loss of 29,000 in September and topping forecasts.
- The S&P 500 gained about 0.5% and the Nasdaq rose roughly 0.8%–0.9%, with both touching intraday highs as large-cap tech outperformed.
- Nvidia, Alphabet and Meta advanced more than 1% as communication services led sector gains during the session.
- Recent semiconductor volatility persisted after a sharp Tuesday pullback, with SOXX down 4% and SMH off 3.6%, leaving short-term support levels in focus.
- The longest-ever government shutdown constrained official data while Supreme Court skepticism of tariff powers and a 5.2 million-barrel crude build injected fresh uncertainty.