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As of 1:30 p.m. ET, the Nasdaq Composite has climbed back to being a shade above breakeven. The index is currently up about 6 points, or .03%.
It’s been a back-and-forth trading day, with the Nasdaq hitting 18,300 at 11:15 before falling to 18,142 in the next hour. Here’s a check-in how other major indexes are performing:
Let’s take a look at the day’s biggest news.
NVIDIA (Nasdaq: NVDA) is replacing Intel (Nasdaq: INTC) in the Dow Joens Industrial Average. NVIDIA’s recent stock split helped clear the way for the company joining the index.
With the Dow Jones including bellwether stocks across America’s largest industries, it makes sense that NVIDIA is more representative than Intel. At today’s market cap, NVIDIA is worth $3.38 trillion while Intel is worth little more than $100 billion.
NVIDIA is up 1.75% on the news while Intel is down 3%. In other news, Sherwin-Williams (NYSE: SHW) will replace Dow Inc. (NYSE: DOW) in the index. Sherwin-Williams is up 3.8% on the news while Dow Inc. is down 2.4%.
The dominant news story this week will be the U.S. Presidential election tomorrow. Prediction markets like Kalshi and Polymarket have seen large swings across the weekend. Odds on Donald Trump winning hit 65% on Kalshi on October 29th, but slipped back to 51% yesterday.
As of publication, Trump is currently priced at a 54% chance of winning on Kalshi while Harris bets are priced at 46%. Professional pollsters like Nate Silver have the race at a dead-heat. Shares of Trump Media & Technology Group (Nasdaq: DJT), which tend to trade around sentiment Trump gets elected have jumped 11% today.
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Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
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