Stock futures were mostly unchanged Tuesday night after a day of mixed movements in the U.S. markets. The Dow Jones Industrial Average surged over 550 points to a record high, while the Nasdaq Composite fell slightly. The S&P 500 also closed higher, marking its third consecutive positive session.
The Dow’s rally was supported by consumer stocks such as Walmart, Home Depot, and McDonald’s. Investors moved into sectors with lower valuations and less exposure to artificial intelligence trends. Healthcare stocks also performed well, with gains in companies like Eli Lilly and Johnson & Johnson.
Meanwhile, popular AI-focused stocks, including Nvidia, declined, reflecting investor caution about stretched valuations in the technology sector. Experts note that while some tech giants continue to perform well, broader tech gains are limited. Craig Johnson, chief market technician at Piper Sandler, observed that very few groups are making new highs, and most stocks are struggling to stay above key moving averages. This has led to a rotation in the market, with investors seeking safer options.
Adding to market uncertainty, a new ADP report showed that private employers cut jobs in October, raising concerns about the strength of the U.S. labor market. The report drew extra attention because the recent U.S. government shutdown has delayed many important economic releases. The government could reopen by the end of this week after the Senate passed a spending bill, which now awaits a House vote.
In company-specific news, nuclear power startup Oklo saw its shares dip slightly after reporting a wider third-quarter loss than expected. The company posted a loss of 20 cents per share, above analyst expectations of 13 cents. Despite the loss, Oklo shares have surged nearly 390% this year, as investors remain optimistic about its advanced nuclear technology.
Oklo plans to launch its first commercial Aurora advanced fission plant in 2027. The company aims to provide large-scale clean energy for AI infrastructure and other applications. CEO Jacob DeWitte highlighted the importance of abundant energy supply for supporting the country’s technological growth.
Overall, while the Dow reached record highs, the mixed performance in tech and job data shows a cautious market. Investors are carefully weighing safe, value-driven sectors against high-growth tech stocks, signaling a selective approach to investing in uncertain conditions.
