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S&P 500, Nasdaq Set Records as Reported AMDOpenAI Pact Lifts Tech, Dow Slips

Deal-driven trading concentrated gains in mega-cap tech, with investors watching upcoming Fed remarks plus regulatory review.

Overview

  • Stocks ended split with the S&P 500 up 0.36% and the Nasdaq up 0.71% to fresh highs, while the Dow fell 0.14%.
  • AMD jumped 24% after reports of a new agreement with OpenAI tied to next‑generation GPUs expected next year, with coverage also reporting an option for Sam Altman to buy up to 10% of AMD.
  • Fifth Third announced a $10.9 billion acquisition of Comerica subject to regulators, boosting Comerica about 14% and nudging Fifth Third down roughly 1.4%.
  • Verizon dropped about 5.1% after its board named former PayPal chief Dan Schulman as the new CEO.
  • Gold touched a record near $3,945 per ounce as traders also looked ahead to remarks this week from Fed officials including Stephen Miran and Jerome Powell.