S&P 500, Nasdaq Set Fresh Records as Tech Rallies; Oil and Gold Advance

U.S. stocks finished mixed Monday, with the S&P 500 closing at 6,740.28 (up 0.36%) and the Nasdaq Composite at 22,941.7 (up 0.71%), both notching record closing highs. The Dow Jones Industrial Average edged down 63.31 points, or 0.14%, to 46,695.0, reflecting weakness in some blue chips even as growth shares extended their lead.

Gains were broadest in technology, propelling the Nasdaq to the day’s best performance and helping the S&P 500 overcome pockets of softness in economically sensitive shares. The bifurcated finish left small-caps modestly higher—the Russell 2000 rose 0.40% to 246.81—while the Dow lagged.

AMD spikes on OpenAI mega-deal. Advanced Micro Devices surged after announcing a multi-year partnership to supply OpenAI with next-generation Instinct MI450 GPUs, with an initial one-gigawatt deployment slated for the second half of 2026 and a roadmap totaling up to six gigawatts of compute. The agreement also grants OpenAI warrants to acquire as much as 10% of AMD, contingent on delivery and share-price milestones—news that sent AMD shares sharply higher. The deal positions AMD as a core supplier alongside Nvidia in the AI build-out, according to company statements and multiple news reports.

Bari Weiss takes the helm at CBS News. In media, Bari Weiss—founder of The Free Press—was named editor -in-chief of CBS News as Paramount (under Skydance leadership) moves to acquire her outlet. The appointment gives Weiss a mandate to steer the network’s editorial direction and signals a strategic shift at the broadcaster; industry coverage noted the move brings Weiss back into a mainstream newsroom and could reshape CBS’s positioning.

Outside equities, commodity markets added a constructive backdrop. U.S. crude futures (Nov ’25) climbed 1.41% to $61.74, and gold futures (Dec ’25) advanced 1.99% to $3,986.70, according to Yahoo Finance screenshots. Oil’s gain signaled firmer risk appetite in energy while the move in bullion—often a haven—suggested investors also sought portfolio ballast amid an already extended equity run.

The mix of rising megacap tech shares and resilient commodity prices helped reinforce the view that markets are navigating late-year crosscurrents with a bias toward growth. The S&P 500’s latest milestone underscores how heavily weighted technology names continue to steer index-level performance, while the Dow’s decline shows that the rally hasn’t lifted all boats equally.

With both the S&P 500 and Nasdaq ending at records, attention turns to whether leadership broadens beyond the biggest technology constituents. Small caps’ modest rise and the Dow’s slip indicate investors are still selective—rewarding secular growth while keeping a cautious eye on valuation and cyclical exposure.