Newscasts - Dow, S&P 500 post record closing highs; Nasdaq eases with tech

Ameriprise Financial

04/10/2025 24:03

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Source: 'Reuters - Business videos'

Description: The Dow and S&P 500 registered record closing highs on Friday, with interest rate-cut expectations improving as the U.S. government shutdown went on for a third day, while the Nasdaq eased. Lisa Bernhard has more.

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Video Transcript:

US stocks ended mixed on Friday, with the Dow adding about 0.50%, the S&P 500 edging slightly into the green and the NASDAQ shedding more than a 0.25%. The Dow and S&P 500, with just its marginal gain, notched record closing highs unfazed by a US government shutdown that dragged into a third day, said Nancy Daoud, Private Wealth Advisor at Ameriprise Financial.

The market continues to hit all-time highs, and investors are looking right through that whole government shutdown and nobody seems to be that concerned about it because it's happened before, and it all blows over after a few days. So that seems to be the sentiment. Well, it looks like some of the tech stocks are having a bit of a volatility day, but that's not so unusual for those types of stocks, so I wouldn't be very, very concerned about it. I think it's actually perhaps maybe a buying opportunity.

Among those stocks, shares of Applied Materials fell more than 2.5% after the chip-equipment maker late Thursday forecast a $600 million hit to fiscal 2026 revenue. Shares of Tesla were also down almost 1.5%, despite the EV-maker announcing record quarterly deliveries a day earlier. Concerns that expiring US tax credits for EVs would turn a rush of buying into a trickle has weighed on its shares. On the flip side, shares of USA Rare Earth soared more than 14% after its CEO told CNBC the mining company was in close communication with the White House. President Trump had invoked emergency powers in March to boost domestic production of critical minerals as part of a broad effort to offset China's near total control of this sector.