The S&P 500 is down by -0.35%, Dow Jones is up by +0.26%, and Nasdaq 100 is down by -1.04%. Nvidia drops over -5% after Meta Platforms considers Google’s AI chips. US economic news, including weak retail sales and declining private payrolls, strengthens the case for a Fed rate cut. Dec T-notes yield falls to 4.019%.

US private payrolls decline, BLS cancels October reports, and markets await economic news. ADP reports weekly average payrolls fell by -13,500. Sep retail sales weaker than expected. Sep PPI stronger than expected. CaseShiller home price index rises less than expected. Markets predict an 80% chance of a Fed rate cut.

Nvidia, AMD, and other chip stocks decline due to Meta Platforms-Google AI chip talks. Cryptocurrency-exposed stocks fall. Home builders and suppliers rise on lower T-note yield. Burlington Stores down after Q3 revenue miss. Semtech down on lower margin forecast. Coherent Corp down after Bain Capital stake cut.

Amentum Holdings up after strong Q4 revenue. Zoom Communications and Keysight Technologies up after positive earnings reports. Best Buy raises revenue forecast. Alphabet surges on Meta Platforms-Google AI chip talks.

Earnings reports for Analog Devices, Best Buy, Burlington Stores, and others. Author Rich Asplund has no positions in mentioned securities. News from Barchart. Views expressed are the author’s own and not necessarily those of Nasdaq, Inc.

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