The S&P 500 Index ($SPX) (SPY) today is down by -0.35%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -1.04%. December E-mini S&P futures (ESZ25) are down -0.40%, and December E-mini Nasdaq futures (NQZ25) are down -1.09%.
Stock indexes are under pressure today, giving back some of Monday’s sharp rally. Nvidia is down more than -5% to lead chip stocks lower after The Information reported that Meta Platforms is in talks to spend billions on Google’s AI chips, known as tensor processing units (TPUs), in data centers in 2027. An agreement would suggest that Google is making headway in efforts to rival Nvidia’s AI accelerator chips and would help establish TPUs as an alternative to Nvidia’s chips. Alphabet, the parent company of Google, is up more than +2% on the news.
