Stock Markets Mixed: CoreWeave Soars, Spotify Drops; Nvidia Hits Record High
Stock markets saw a mixed day on Tuesday, with some notable movements in tech and healthcare sectors. CoreWeave soared 11.7 percent following a deal with Meta, while Spotify saw a decline of four percent after the resignation of its CEO. Meanwhile, Wall Street indices closed slightly in the green, continuing their record-breaking streak.
Nvidia stock climbed for the fourth consecutive day, up 2.6 percent and hitting a record high. The company's strong performance in the semiconductor sector has been driving its stock price upwards. In contrast, Firefly Aerospace plummeted 20.7 percent after a rocket test explosion, highlighting the risks and uncertainties in the aerospace industry.
The S&P 500 and Nasdaq 100 both gained on Tuesday, with increases of 0.4 percent and 0.3 percent respectively. This follows a strong September for both indices, with the S&P 500 up around 0.5 percent and the Nasdaq 100 up around 0.7 percent. Merck & Co led the Dow Jones with a stock jump of around seven percent, contributing to the index's gain of 0.2 percent to 46,397 points. The Dow Jones has gained around 2.4 percent in September and nearly five percent in the quarter.
Analysts consider the potential US government shutdown a manageable event for the markets. They believe that the shutdown, if it occurs, will have a limited impact on the overall economy and stock market performance. However, they continue to monitor the situation closely.
Pfizer saw a gain of 6.8 percent in the S&P 500 after securing a three-year tariff exemption from the Trump administration. The company's CEO, Albert Bourla, has been instrumental in securing this deal, which is expected to benefit the company's operations and stock price.
Tuesday's trading session saw a mix of gains and losses, with some notable movements in individual stocks and indices. While the potential US government shutdown remains a concern, analysts believe it will have a limited impact on the markets. Looking ahead, investors will continue to monitor the performance of tech and healthcare stocks, as well as the broader market trends.
