Overview
- OpenAI agreed to purchase roughly $38 billion of computing capacity from Amazon Web Services, sending Amazon to a record close and reinforcing the AI trade.
- S&P 500 rose 0.17% and the Nasdaq gained 0.46% while the Dow fell 0.46%, with more than 300 S&P names declining and market leadership concentrated in megacap tech.
- Nvidia advanced after the White House detailed chip export policies and the company secured licenses to supply GPUs to the United Arab Emirates.
- Policy signals remained unclear as a government shutdown limited official data and Fed officials issued conflicting views on additional rate cuts ahead of this week’s ADP report.
- Palantir beat Q3 estimates and raised guidance, and Kimberly‑Clark’s deal to buy Kenvue above $40 billion lifted Kenvue and sank Kimberly‑Clark, while Asian markets split with record highs in Japan and Taiwan and profit‑taking in South Korea.