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2h ago

S&P 500 and Nasdaq Set Records on AMD–OpenAI Deal and Bank M&A

With key economic reports delayed by a partial government shutdown, investors looked to blockbuster corporate moves for direction.

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Wall Street cerró en mixto tras grandes acuerdos en tecnología y banca. Photographer: Michael Nagle/Bloomberg

Overview

  • The S&P 500 rose 0.36% and the Nasdaq gained 0.71% to record closes, while the Dow Jones fell 0.14%.
  • AMD agreed to supply OpenAI with 6 gigawatts of GPUs under a multi‑year pact, sending AMD shares up about 24% after an intraday surge of roughly 35%, as Nvidia and Intel slipped and Benchmark raised AMD’s price target to $270.
  • News reports said the agreement includes an option for OpenAI CEO Sam Altman to acquire up to 10% of AMD, a detail not disclosed in company terms.
  • Fifth Third Bancorp announced a $10.9 billion purchase of Comerica that would create the ninth‑largest U.S. bank pending regulatory approvals; Comerica jumped about 14% as Fifth Third eased roughly 1.4%.
  • A partial federal government shutdown entered day six and delayed economic releases, leaving markets to watch upcoming Federal Reserve remarks from Stephen Miran on Wednesday and Chair Jerome Powell on Thursday.