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2h ago

Dow Climbs as Tech Slips on SoftBank’s Nvidia Exit With Markets Mixed Near Records

Thin holiday liquidity plus a weak ADP payroll readout sharpened focus on potential Fed rate cuts.

The Dow closed at a record high and had its best day in almost one month.
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 29, 2025. REUTERS/Brendan McDermid
The Dow Rallies 550 Points to a Record
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Overview

  • Major U.S. indexes traded mixed, with the Dow advancing as the S&P 500 edged lower and the Nasdaq fell, leaving all three near record highs.
  • Nvidia dropped roughly 2%–3% after SoftBank disclosed it sold its entire $5.83 billion stake last month, pressuring AI and broader tech shares as the Magnificent Seven ETF slid more than 1%.
  • The Senate approved a deal to restore federal funding after the record shutdown, with a House vote expected as soon as Wednesday before the bill goes to President Donald Trump.
  • ADP’s preliminary figures showed private employers cut an average of 11,250 jobs per week in the four weeks ended Oct. 25, reinforcing wagers on a possible December rate cut.
  • U.S. bond trading was closed for Veterans Day, thinning liquidity as sector moves diverged, with energy stocks rising and information technology lagging.