Stock Market Midday, Sept. 29: Stocks Edge Lower Despite $2 Trillion Anthropic Valuation
As of 11:42 AM ET, the S&P 500 (SNPINDEX:^GSPC) is down 0.25% to 7,665, the Nasdaq Composite (NASDAQINDEX:^IXIC) has slipped 0.10% to 26,793, and the Dow Jones Industrial Average (DJINDICES:^DJI) is trading 0.54% lower to 51,205 as persistent yield pressure offsets optimism s
At 11:42 AM ET on September 29, major U.S. stock market indices were experiencing a slight decline despite an estimated $2 trillion valuation attributed to the artificial intelligence firm Anthropic. The S&P 500 dropped 0.25% to 7,665, the Nasdaq Composite fell 0.10% to 26,793, while the Dow Jones Industrial Average decreased 0.54% to 51,205.
This market sentiment was influenced by persistent yield pressure, which seemed to overshadow the excitement over new AI-related dealmaking. Gold prices, however, showed a positive trend, rising by 1.00% to $4,156.56, while the 10-Year Treasury yield increased 4 basis points to 5.28%.
In a contrasting sector performance, utilities emerged as the top-gaining sector, while financial services and healthcare sectors saw declines. Cboe Global Markets, a significant player in the market, was among the notable gainers, surging as trading volumes remained elevated due to news of its extended exclusive licensing agreement with S&P Dow Jones.
Notably, Advanced Micro Devices (AMD) continued its upward momentum following its announcement of an $8.2 billion acquisition of AI start-up World Labs. Additionally, Boeing shares showed signs of recovery after a software glitch reported earlier in the day. The market's overall volatility was underscored by the continuing interest in AI-related developments, despite the prevailing yield pressures in the bond market.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
