Overview
- Nasdaq rose 0.46% and the S&P 500 added 0.17% while the Dow fell 0.48%, a split start following strong October advances.
- Reports of a $38 billion Amazon–OpenAI infrastructure agreement and Amazon’s 20% Q3 cloud revenue growth kept mega-cap tech in focus.
- The S&P 500 is up about 16.3% for the year after six consecutive monthly gains, with valuations near 30 times forward earnings.
- Investors look to results from Nvidia, Palantir and AMD among more than 100 S&P 500 companies to gauge AI demand and market breadth.
- A stronger dollar after a recent 25 bp Fed cut and a prolonged U.S. government shutdown that may delay official data add near-term uncertainty.