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33m ago

Dow Hits Record on Shutdown Deal Momentum as AI Shares Fall After SoftBank Exits Nvidia

Investors priced a reopening this week, with attention shifting to a House vote plus the return of delayed economic data.

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

  • Senators advanced a stopgap bill to fund the government through January, with the House expected to take up the measure as soon as Wednesday before it goes to President Donald Trump.
  • The Dow Jones Industrial Average jumped 559 points to a record close, the S&P 500 edged higher, and the Nasdaq slipped as investors rotated away from richly valued tech stocks.
  • SoftBank disclosed it sold its entire Nvidia stake for about $5.83 billion, pressuring Nvidia and other AI-linked shares as traders reassessed sector valuations.
  • AI infrastructure firm CoreWeave cut its annual revenue outlook, sending its shares sharply lower and adding to concerns about the durability of near‑term AI spending.
  • An ADP update pointed to private employers shedding an average of roughly 11,250 jobs per week in late October, reinforcing bets on a potential December Fed rate cut on a day when U.S. bond markets were closed for Veterans Day.