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Stock Market Today: Dow in late dash higher as Amazon climb helps tech shake funk

Published Sep 25, 2023 04:29PM ET
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Investing.com -- The Dow made a late dash higher to eked out a gain Monday, as an Amazon (NASDAQ:AMZN) fueled rise in tech and a jump in energy stocks helped stocks wriggle away from the squeeze delivered by surging Treasury yields.     

The S&P 500 rose 0.4%, the Dow Jones Industrial Average gained 0.1% 43 points, Nasdaq rose 0.5%.

{{0|Amazon boosts AI push with up to $4B investment in Anthropic

Amazon.com Inc (NASDAQ:AMZN) said it would invest up to $4 billion in the artificial intelligence start-up Anthropic --which develops generative AI technology including large language model-based chatbots like ChatGPT that will be to Amazon Web Services customers.

“The agreement has the potential to accelerate adoption and deployment of additional generative AI capabilities to AWS customers and should ease investor concerns that Amazon has been less proactive than its peers in its approach to generative AI, in our view,” Wedbush said in a note.

Alphabet Inc Class A (NASDAQ:GOOGL) also has a roughly 10% stake in Anthropic after making a $300 million investment earlier this year.

Apple Inc (NASDAQ:AAPL), Meta Platforms Inc (NASDAQ:META), and Microsoft Corporation (NASDAQ:MSFT) ended the day higher. 

Energy stocks shrug off wobble in oil prices

Energy stocks rose more than 1% to support the broader market even as oil prices stumbled as investors assessed the impact of the higher for longer rates on the economy and energy demand.

EOG Resources Inc (NYSE:EOG), Coterra Energy Inc (NYSE:CTRA), Baker Hughes Co (NASDAQ:BKR) were among the biggest energy gainers on the day.

U.S. 10-year yield hits highest since 2007 ahead of key economic data

The United States 10-Year yield rose to highest level since 2007 as investors look ahead to remarks by Federal Reserve speakers and key economic reports this week including inflation and quarterly economic growth data that will play a role in Fed’s thinking on monetary policy.

The calendar for the week includes various Fed speakers and the personal consumption expenditure price index data due Friday. Fed Chair Jerome Powell is scheduled to speak on Thursday and New York Fed President Williams on Friday.

U.S. Government shutdown looms

Concerns about a U.S. government shutdown continue to grow as Congress has yet to pass any spending bills that are needed to fund the government beyond the Oct. 1.

"There is still time to avert a shutdown, but with less than a week to pass a short-term spending bill needed to keep the government open past the new fiscal year beginning October 1, most are skeptical there is the will to negotiate, and quickly," Stifel said in a note.

Credit rating agency Moody’s said that while a U.S. shutdown would have negative implications for the nation’s credit worthiness, the economic impact would be short-lived.

Stock Market Today: Dow in late dash higher as Amazon climb helps tech shake funk
 

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Comments (10)
Tom Michaels
Tom Michaels Sep 25, 2023 8:34PM ET
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Total rigging.
dylan mulvaney
dylan mulvaney Sep 25, 2023 6:50PM ET
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Amazon? You mean the company that is going to start showing ads during their videos and drive off even more prime customers?
Warm Camp
Warm Camp Sep 25, 2023 6:20PM ET
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The market cannot go down every day. It is supposed to present more varied motion. Buy on bad days and sell on good ones.
Ebuebue joseph
Ebuebue joseph Sep 25, 2023 5:10PM ET
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how can I make money in this meta trade.
Warm Camp
Warm Camp Sep 25, 2023 5:10PM ET
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Buy low, sell high, buddy. Though this is a bit more complicated in real life.
Mitchel Pioneer
Mitchel Pioneer Sep 25, 2023 4:42PM ET
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"Late Dash Higher" - What a joke.  Doesn't it always?  And of course, it magically sets a closing high in the process.  Criminally manipulated FRAUD.
Jason Patcher
Jason Patcher Sep 25, 2023 4:42PM ET
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sorry you had a bad day - think longer term. I was buying a little back later in the session. not sure why that's a surprise
Ac Tektrader
Ac Tektrader Sep 25, 2023 4:42PM ET
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more proof that poor little Mitchel shouldn't be in trading in these markets. he continues to demonstrate his ignorance how markets operate.
Casador Del Oso
Casador Del Oso Sep 25, 2023 4:42PM ET
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A tech stock with a pe ratio over 100 helps shake off the funk while the 2YR yield is over 5.12%. lol
Dwi Okta S
DwiOkta0710 Sep 25, 2023 4:41PM ET
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THE liarr
Dave Jones
Dave Jones Sep 25, 2023 4:38PM ET
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Market goes up due to market going up.
Chad Richer Than You
Chad Richer Than You Sep 25, 2023 4:35PM ET
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As Chad & Co pumps DX to the moon 🌑🌑!
Chart Harmonics
Chart Harmonics Sep 25, 2023 4:34PM ET
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Fun time to daytrade, but AI is not going to save the US economy.
 
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