Stock Market Today: Boeing's Slide Holds the Dow Flat as Chip Stocks Climb Again
The Nasdaq rose 1.18% as chip stocks gained 3.60% on a $63 billion financing deal for Anthropic, while Boeing's 10.7% drop left the Dow up just 15.99 points.
Chip stocks rose for a third straight day on Tuesday, but Boeing’s worst day in at least five years kept the Dow almost flat. The Nasdaq Composite gained 1.18% and the S&P 500 rose 0.60% to 7,722.60, now 1.2% below its 6 October record close, while the Dow added just 15.99 points. Energy was the worst of the 11 sectors, down 2.20%, as oil fell for a second day.
Boeing’s slower climb weighed on the Dow
Boeing (BA) plunged 10.7% to $168.18 after saying it won’t steady 737 output at 47 jets a month until early 2027, and that it expects about $3 billion of free cash flow next year, against the roughly $5.5 billion Wall Street expected, Reuters reported. Full story.
The Dow adds up share prices rather than company values, so Boeing’s $20.13 fall per share weighed heavily on it. Boeing was the index’s worst performer, AFP reported.
A $63 billion deal for Anthropic lifted chips
Late on Monday, Bank of America, Citi, Morgan Stanley and Blackstone said they had lined up $63 billion for a new company that will buy Broadcom’s AI chips and networking gear and lease them to Anthropic, with deliveries starting in 2027. “Today’s transaction underscores the power of our advanced technology and our strong conviction in the AI ecosystem,” Broadcom Chief Executive Hock Tan said in a statement.
Broadcom (AVGO) jumped 4.0% after the announcement, AP reported, and the PHLX Semiconductor index gained 3.60%, its best day since 21 September by our count; it is still 21.5% below its 22 June record close. AMD (AMD) jumped 5.5% after saying Meta is testing its Helios server racks and that it will put $1 billion into Meta’s share sale. Nvidia (NVDA), which will put in $3 billion, edged up 0.9%, and Meta (META) fell 1.6%.
Earnings: UPS and SoFi up, Xylem down, GM moves
UPS (UPS) jumped 5.8% after beating estimates and raising its forecast for a second straight quarter. Our recap. Coca-Cola (KO) fell 1.6% despite raising its outlook a third time. Our recap. SoFi Technologies (SOFI) soared 13.4% after reporting record revenue and raising its full-year forecast.
Xylem (XYL) plunged 14.2%, its worst day in at least five years, after cutting its 2026 forecast. Full story. General Motors (GM) jumped 5.5% after saying it will move its listing to the Nasdaq, which makes it eligible for the Nasdaq-100. Full story.
Shoppers cheered up as oil slipped
The Conference Board’s consumer confidence index rose to 91.7 in October, beating the 81.0 economists polled by Dow Jones expected, as gasoline prices eased. Full story.
December Brent crude settled at $113.88 a barrel, down 1.67%, after Saudi Arabia, Turkey and Pakistan agreed with Iran on Monday to keep talking, Reuters and CNBC reported. Refiners fell hardest: Valero (VLO) lost 9.2%, Marathon Petroleum (MPC) 7.4% and Phillips 66 (PSX) 7.0%. Diesel and gasoline futures each fell more than 2%, more than crude, by our count; refiners earn the gap between the two.
After the bell
Visa (V) beat estimates but guided to slower earnings growth in fiscal 2027, and its shares fell about 1.4% in extended trading, Reuters reported. Our recap. The Fed announces its rate decision at 2 p.m. ET on Wednesday.
The numbers
| Market | Close | Change |
|---|---|---|
| S&P 500 | 7,722.60 | +0.60% |
| Nasdaq Composite | 26,477.81 | +1.18% |
| Dow Jones Industrial Average | 52,377.57 | +0.03% |
| Russell 2000 | 2,818.87 | +1.16% |
| 10-year Treasury yield | 4.99% | Down 0.01 point |
| US crude (WTI, December, settled) | $99.90 | -1.83% |
| Bitcoin (about 6:30 p.m. ET) | About $80,800 | About +1.2% |
Index closes are from Yahoo Finance and CNBC, and the 10-year yield is from the Treasury’s daily yield curve; the record and “best day since” counts are ours, from Yahoo Finance closes.
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Mostly Markets is for information and education only and isn't investment advice. Nora Whitfield is a pen name. Prices are from Nasdaq and CNBC as of the time stated.
