On the eve of Election Day, the Dow Jones fell 200 points as investors held back ahead of the results. The subdued stock activity coincided with a rally in safe-haven U.S. Treasuries, suggesting some investors are shifting to lower-risk assets in anticipation of potential market volatility.
By midday, the Dow Jones Industrial Average was down 203 points (0.4%), while the S&P 500 and Nasdaq were up slightly by 0.16% and 0.10%, respectively. The cautious trading reflects broader market sentiment, with investors weighing optimism against uncertainty ahead of the election outcome.
Palantir Technologies (PLTR) will release its earnings report after the closing bell. Known for its advanced AI tools used by military and intelligence agencies, Palantir has become a prominent player amid the ongoing AI wave in the tech world. In addition, investors will closely monitor the Federal Open Market Committee’s interest rate decision this Thursday, as well as the subsequent press conference with Fed Chairman Jerome Powell.
Nvidia is about to replace Intel in the Dow Jones
Shares of Nvidia ( NVDA ) rose more than 1% on Monday as the AI chipmaker was set to join the Dow Jones Industrial Average, which includes the top 30 U.S. stocks. This inclusion marks a significant milestone for Nvidia and reflects its growing influence in the technology and AI sectors.
To make room for Nvidia, Intel (INTC, a long-time Dow member) will be removed from the index, signaling a shift in focus to AI-driven growth. In response to the news, Intel shares fell 4%. The reshuffle will come into effect at the end of this week.
Berkshire Hathaway is bankrupt after selling Apple shares
Warren Buffett’s Berkshire Hathaway (BRK.A) has continued to sell significant stakes in several companies as it grows its cash pile to a record $325.2 billion.
In the third quarter, Berkshire sold a total of $36.1 billion worth of shares, including from major holding companies Apple (AAPL) and Bank of America (BAC), the company announced in regulatory filings on Saturday. Meanwhile, it bought just $1.5 billion worth of stock during that same period.
— Rocio Fabbro contributed to this article.
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