Stock Market Update

03-Nov-25 12:00 ET

Technology sector holds solid gain amid busy headline day

Dow -190.55 at 47372.11, Nasdaq +125.05 at 23850.03, S&P +10.27 at 6850.46

[BRIEFING.COM] The major averages are little changed from previous levels at midday.

The information technology sector (+0.6%) expands its gain for the day as NVIDIA (NVDA 209.45, +6.96, +3.44%) continues to advance.

Microsoft (MSFT 518.85, +1.04, +0.20%) is little changed despite recently announcing a multibillion-dollar deal with Lambda to boost AI infrastructure.

An earlier announcement of a five-year cloud services contract with IREN Limited (IREN 65.71, +4.96, +8.16%) will give Microsoft access to cutting-edge NVIDIA Blackwell chips and send IREN to record highs.

Elsewhere in the sector, Cisco (CSCO 74.19, +1.08, +1.47%) trades higher after UBS upgraded the stock to Buy from Neutral, citing a surge in AI infrastructure demand.

Western Digital (WDC 156.59, +6.38, +4.25%) and Seagate Tech (STX 266.31, +10.43, +4.08%) continue to trade higher after their earnings reports last week.