Traders works on the floor of the New York Stock Exchange.
NYSE
The Nasdaq Composite rose on Monday as investors moved further into the artificial intelligence trade following a number of deal announcements.
The tech-heavy Nasdaq advanced 0.4%, while the S&P 500 traded around the flatline. The Dow Jones Industrial Average fell 316 points, or 0.7%, bogged down by a decline in shares of UnitedHealth.
“Magnificent Seven” name Amazon supported the market, with shares rallying 4% after the company reached a $38 billion deal with OpenAI. Notably, the partnership will utilize hundreds of thousands of Nvidia’s graphics processing units.
Shares of chipmakers saw a boost as well Monday after data center company Iren reached a multiyear $9.7 billion deal with Microsoft to provide the megacap technology company access to Nvidia GB300 GPUs. Micron Technology gained 4% to lead chip stocks higher, while Nvidia was up 2%. The VanEck Semiconductor ETF (SMH) climbed nearly 1%. Shares of Iren, meanwhile, were last up 11%.
Nvidia shares continued to move higher Monday following Microsoft’s announcement that it has secured export licenses from the Trump administration to ship Nvidia chips to the United Arab Emirates. The company added that its total UAE investment will amount to $15.2 billion by the end of 2029.
Outside of technology stocks, however, little was gaining in the trading day, as more than 400 stocks in the S&P 500 were in the red. This weak breadth has been an ongoing concern of the market, with more stocks in the major benchmark declining than rising in October, even as the artificial intelligence trade pushed it higher for the month.
Wall Street is coming off a winning session that added to the benchmark’s October gains. The S&P 500 and Dow industrials climbed 2.3% and 2.5%, respectively, for the month. The Nasdaq Composite outperformed, gaining 4.7%. Those gains were driven in part by continued momentum in the AI trade as well as signs of easing trade tensions between the U.S. and China.
More than 300 S&P 500 companies have posted third-quarter results thus far. Of those, over 80% have beaten expectations, according to FactSet. Wall Street will get another 100-plus companies reporting this week, including AI-related names Palantir and AMD.
“Fundamentally, the U.S. earnings picture remains strong and supported by these 3 factors: AI spending visibility remains strong and Amazon’s strong 3Q25 report is the latest evidence of this; financials are driving innovation via blockchain; the Fed is dovish and lowering interest rates; and QT (quantitative tightening) is ending Dec 1,” wrote Tom Lee, head of research at Fundstrat.
Wall Street may get a seasonality boost this month. Data from the Stock Trader’s Almanac shows the S&P 500 averages a 1.8% gain in November, making it the strongest month historically for the benchmark.
Beyond Meat shares fall after company delays financial results
Shares of Beyond Meat fell on Monday after the company delayed its third-quarter financial results.
The plant-based meat maker will now report earnings after the market closes on Nov. 11. Beyond Meat said it delayed its results because it needs more time to calculate a material non-cash impairment charge related to certain long-lived assets. Read more.
BYND, 1-day
— Spencer Kimball
Overwhelming number of stocks are lower Monday despite modest losses in S&P 500, DJIA
Traders work on the floor of the New York Stock Exchange in New York on Oct. 30, 2025.
Angela Weiss | AFP | Getty Images
Modest losses in the S&P 500 and the Dow Jones Industrial Average and gains in the Nasdaq Composite belie the overwhelming number of stocks that are lower in early Monday trading.
More than 400 stocks in the S&P 500 index, or more than 80%, were lower, while 24 out of 30 companies in the Dow Industrials fell.
Of all the stocks that trade on the New York Stock Exchange, 1,783 declined on Monday versus 793 advancers. New 52-week lows beat new 52-week highs by 74 to 54. Down volume swamped up volume, 67% to 31%, according to FactSet data.
Although the Nasdaq Composite was higher, decliners topped advancers 2,610 to 1,362, while new lows exceeded new highs 142 to 131 in recent trading. The percentage of all Nasdaq volume that traded lower in price accounted for 42% of the total against 56% of up volume.
— Scott Schnipper
ISM manufacturing survey falls short of estimate for October
Factory activity in the U.S. pulled back further in October while employment picked up momentum and prices cooled, the Institute for Supply Management reported Monday.
The ISM manufacturing index for the month registered a 48.7% reading, representing the share of companies reporting growth. That was off 0.4 percentage point from September and below the Dow Jones consensus estimate for 49.3%.
Within the survey, the prices index fell 3.9 points though still was showing growth at 58%. Production slipped 2.8 points to 48.2% while employment edged higher to 46%, though still in contraction territory after rising 0.7 points.
— Jeff Cox
Coeur Mining falls 8% on deal to acquire New Gold
Thomas Fuller | Lightrocket | Getty Images
Shares of Coeur Mining fell about 8% after striking a deal to acquire New Gold for $7 billion in an all-stock deal.
New Gold shares were trading more than 3% higher.
The deal will create a completely North American precious metals mining company with a $20 billion market capitalization, the companies said. It will have seven operations producing 1.25 million gold equivalent ounces in 2026, including 20 million ounces of silver and 900,000 ounces of gold.
CDE, 1-day
— Spencer Kimball
Stocks open in the green
Stocks traded up on Monday morning to kick off November trading.
The S&P 500 advanced 0.5% just after the opening bell, while the Nasdaq Composite gained about 1%. The Dow Jones Industrial Average traded just above the flatline.
— Sean Conlon
OpenAI and Amazon reach $38 billion compute deal
The letters AI, which stands for “artificial intelligence,” stand at the Amazon Web Services booth at the Hannover Messe industrial trade fair in Hannover, Germany, on March 31, 2025.
Julian Stratenschulte | Picture Alliance | Getty Images
OpenAI has signed a deal to buy $38 billion worth of capacity from Amazon Web Services, its first contract with the leader in cloud infrastructure and the latest sign that the $500 billion artificial intelligence startup is no longer reliant on Microsoft.
Under the agreement announced on Monday, OpenAI will immediately begin running workloads on AWS infrastructure, tapping hundreds of thousands of Nvidia’s graphics processing units (GPUs) in the U.S., with plans to expand capacity in the coming years.
Amazon stock climbed about 5% following the news.
The first phase of the deal will use existing AWS data centers, and Amazon will eventually build out additional infrastructure for OpenAI.
“It’s completely separate capacity that we’re putting down,” said Dave Brown, vice president of compute and machine learning services at AWS, in an interview. “Some of that capacity is already available, and OpenAI is making use of that.” Read more.
AMZN, 1-day
— MacKenzie Sigalos
Iren, Nvidia, On Semiconductor among the names making moves before the bell
- Iren — The data center company jumped 22% after reaching a deal with Microsoft to provide the software and cloud computing provider with access to Nvidia GB300 GPUs over five years for $9.7 billion.
- Semiconductor manufacturers — The group advanced after Iren’s nearly $10 billion deal to access Nvidia chips, which broadly lifted investor sentiment on semiconductor demand. Nvidia rose nearly 2%, while Micron Technology and Advanced Micro Devices advanced roughly 4% and 1%, respectively.
- ON Semiconductor – ON added more than 3% after third-quarter profit and sales beat analyst estimates. On Semi earned an adjusted 63 cents per share on revenue of $1.55 billion, better than the 59 cents and $1.52 billion that analysts polled by FactSet forecast.
Read here for the full list of names.
— Liz Napolitano
On Semiconductor shares pop after earnings
Thomas Fuller | Sopa Images | Lightrocket | Getty Images
Shares of On Semiconductor advanced almost 4% in premarket trading Monday on the heels of the company’s third-quarter results.
On Semi posted adjusted earnings of 63 cents per share on revenue of $1.55 billion for the quarter, above the 59 cents in earnings per share and $1.52 billion in revenue that analysts polled by FactSet had estimated.
ON, 1-day
— Sean Conlon
Nvidia shares are higher after Microsoft UAE investment announcement
Jensen Huang, CEO of Nvidia, speaks during a press conference after the 2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit in Gyeongju, South Korea, October 31, 2025.
Kim Soo-hyeon | Reuters
Nvidia shares were up around 2% in the premarket on Monday after Microsoft said that the U.S. has allowed it to ship Nvidia chips to the United Arab Emirates.
“Microsoft was also the first company this year under the Trump administration to secure export licenses from the Commerce Department to ship GPUs to the UAE,” the company said in a statement. “These licenses enable us to ship the equivalent of 60,400 additional A100 chips, in this instance involving Nvidia’s even more advanced GB300 GPUs.”
The company also said its investment in the UAE will now go from $7.3 billion from 2023 through 2025 to more than $7.9 billion from 2026 to 2029. Of that, $5.5 billion will go towards capital expenses for AI and cloud infrastructure. Combined, that brings Microsoft’s UAE investment to $15.2 billion between 2023 and 2029.
— Sean Conlon
Another big earnings week ahead
More than 300 S&P 500 companies have reported already, but an additional 100-plus names are set to post their results this week. Among them are McDonald’s, Palantir and AMD.
Read CNBC Pro’s earnings playbook for what to expect out of some of this week’s biggest releases.
— Fred Imbert
Kimberly-Clark to buy Kenvue for $48.7 billion
An illustration photo shows Tylenol in Schwenksville, Pennsylvania, U.S. Sept. 24, 2025.
Hannah Beier | Reuters
Shares of Kenvue rallied 20% after the company — which owns Tylenol, Motrin and other brands — agreed to be acquired by Kimberly-Clark in a $48.7 billion in cash and stock. The deal is expected to close in the second half of 2026.
“Kimberly-Clark and Kenvue have identified approximately $1.9 billion in cost synergies and approximately $500 million in incremental profit from revenue synergies, partially offset by reinvestment of approximately $300 million. The cost synergies are expected to be captured in the first three years following closing, and the revenue synergies are expected to be captured within four years post close,” the two companies said in a statement.
— Fred Imbert
Iren rallies on AI cloud deal with Microsoft
Shares of Iren rallied 22% in the premarket after the data center company reached a deal with Microsoft to provide the tech giant with Nvidia GB300 GPUs over five years for $9.7 billion.
“This agreement not only validates IREN’s position as a trusted provider of AI Cloud services, but also opens access to a new customer segment among global hyperscalers,” co-CEO Daniel Roberts said in a statement. “It marks another major step forward for IREN as we continue to expand large-scale GPU deployments across our 3GW secured power portfolio in North America, reinforcing our position as a leading AI Cloud Service Provider.”
IREN 5-day chart
— Fred Imbert
Berkshire Hathaway reports big jump in operating earnings
Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024.
David A. Grogan
Berkshire Hathaway on Saturday reported a sharp year-over-year increase in operating earnings, led by a more than 200% in insurance underwriting income.
The Warren Buffett-led conglomerate’s profits from its wholly owned businesses jumped 34% to $13.485 billion during the third quarter.
Berkshire didn’t buy back any stock, and its cash reserves swelled to $381.6 billion, a record.
Class B shares were up more than 1% in the premarket Monday.
Read more here.
— Fred Imbert
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