Nvidia and some other chip stocks fell, weighing on the tech-heavy index, after a report said Meta was in talks to spend billions on Google’s AI semiconductors. Google’s parent Alphabet rose, extending its recent surge toward a $4 trillion valuation. The S&P 500 was slightly lower, while the Dow industrials edged higher.
Shutdown-delayed economic data was also in focus. Retail sales rose 0.2% in September from August, undershooting expectations, while producer prices ticked up 0.3%, in line with forecasts. That is among the last inflation readings before the Federal Reserve’s rate decision. Rising expectations for a cut have buoyed markets in recent days.
A series of retailers—Best Buy, Dick’s Sporting Goods, Burlington Stores and Kohl’s—raised annual guidance. Chains, including Walmart, have logged strong results this reporting season, suggesting a solid holiday shopping season ahead.
The dollar weakened against the pound and the yen.
Bitcoin prices slipped toward $87,000.
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