Stocks are mixed today, with the S&P 500 slightly up, the Dow Jones climbing to a new high, and the Nasdaq 100 falling to a 1-week low. Oracle’s disappointing earnings sparked concerns about AI investments, leading to a -12% drop in their shares. Jobless claims hit a 3-month high, pushing bond yields lower.

US weekly initial unemployment claims rose to a 3-month high of 236,000, indicating a weaker labor market than expected. The US Sep trade deficit unexpectedly shrank to -$52.8 billion, the smallest in 5.25 years. The markets see a 24% chance of a 25 bp rate cut by the FOMC in January.

Q3 earnings season shows 83% of S&P 500 companies surpassing forecasts, with earnings rising +14.6% year-over-year. Overseas markets vary, with the Euro Stoxx 50 up and China’s Shanghai Composite down. Interest rates are down with T-notes climbing due to stock weakness. European bond yields lower, swaps imply a 1% chance of an ECB rate cut.

Stocks like Oracle, CoreWeave, and Nebius Group NV are down, affecting AI-infrastructure stocks. Chip makers like ARM Holdings and Marvell Technology slide, along with cryptocurrency-exposed stocks. Fertilizer stocks rise after Ukraine’s attack on Russian plants. Oxford Industries cuts forecasts, while Gemini Space Station Inc gains after approval for a derivatives exchange.

Visa leads gains in the Dow Jones after an upgrade, while Unity Software and JB Hunt Transport Services also rise. Companies like Intuitive Surgical are down after downgrades. Ciena Corp reports better than expected Q4 revenue. Earnings reports for Broadcom, Ciena, Costco, Lululemon Athletica, and RH are scheduled for 12/11/2025.

Read more at Nasdaq: Dow Jumps to New Highs as Fed Cut, Oracle Miss Fuel Shift from Tech to Value Stocks