US stocks mostly up despite tech decline

Wall Street stocks mostly rose on November 11, as optimism about the possibility of an end to the US government shutdown offset weakness in some leading technology stocks.

Traders at the New York Stock Exchange, USA. Photo: THX/TTXVN

After a strong rally on November 10, US stocks opened mostly lower on lingering concerns about skyrocketing valuations of major companies in the field of artificial intelligence (AI). Nvidia, the most prominent name in the AI ​​craze, fell 3.0%.

Those worries eased a bit as the session progressed, with some major tech stocks ending in positive territory. However, the tech-heavy Nasdaq Composite closed down 0.3% at 23,468.30, the only one of the three major U.S. indexes to fall. The Dow Jones Industrial Average rose 1.2% to 47,927.96, while the S&P 500 Composite gained 0.2% to 6,846.61.

There are certainly concerns about valuations, but that doesn't mean the market is going to sell off, said Tim Urbanowicz, an analyst at investment brokerage Innovator Capital Management.

Some market analysts see the Dow Jones' strong gains in this session as evidence of a shift in money flow to industrial stocks from technology stocks.

Investors were encouraged by progress on legislation on Capitol Hill to end the prolonged US government shutdown.

Across the Atlantic, major European stock markets also rose in the session. London's FTSE 100 index hit a new record high as the pound weakened, pushing the index up 1.2% to 9,899.60 points at the close. The CAC 40 index in Paris (France) also rose 1.3% to 8,156.23 points, while the DAX index in Frankfurt (Germany) rose 0.5% to 24,088.06 points.

Meanwhile, in Vietnam, at the end of this session, the VN-Index increased by 13.07 points (0.83%) to 1,593.61 points. The VN-Index added 2.9 points (1.12%) to 261.08 points.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-my-phan-lon-di-len-du-co-phieu-cong-nghe-suy-giam-20251112074938346.htm