U.S. stock indexes advanced during Nov. 9 trading, with the Nasdaq-100 gaining as much as 2.66% in an intraday snapshot that showed several major technology stocks rising despite a decline in Nvidia.
The Nasdaq-100 rose more than the other two indexes in that snapshot. The S&P 500 was up 1.86%, while the Dow Jones Industrial Average gained 1.64%. Those figures describe moves during trading, not closing returns.
Advanced Micro Devices gained 9.62%. Tesla rose 5.46%, Alphabet climbed 3.37% and Apple added 2.35%. Nvidia fell 4.05%, moving against the other technology shares highlighted in the snapshot.
AI-related shares had sold off on Nov. 5. The Nov. 9 gains also followed October's market rotation: Nasdaq's October review recorded a 6.6% decline for the Nasdaq-100 and a 0.9% drop for the S&P 500, while the equal-weight S&P 500 index gained 5%.
Nasdaq identified concerns about AI capital spending and free cash flow as context for that October divergence. Its review pointed to upcoming employment and inflation data, remaining third-quarter earnings and the Federal Reserve's December decision as indicators to watch.
