Today At A Glance:

U.S. stocks slipped for a second session as investors digested valuation worries and a pop in the dollar; the S&P 500 −0.3%, Dow −0.4%, Nasdaq −0.3%. Fed Chair Powell’s recent caution around stretched asset prices kept megacaps in check, with tech lagging into the close. Micron eased even after topping estimates, while homebuilders rose after a stronger-than-expected new-home-sales print. Freeport-McMoRan sank on a sharp cut to Q3 sales tied to operational disruptions at its Indonesian mine. Meanwhile, lithium names ripped after reports Washington may take an equity stake in Lithium Americas, boosting sentiment across the supply chain.

Today’s Index Performance:

• Dow Jones Industrial Average (^DJI) — Opened at 46,368.94 and closed at 46,121.28, with the percentage change of −0.4%.
• S&P 500 (^GSPC) — Opened at 6,669.79 and closed at 6,637.97, with the percentage change of −0.3%.
• Nasdaq Composite — Opened at 22,656.02 and closed at 22,497.86, with the percentage change of −0.3%.

Gainers Of Note:

• Lithium Americas (NYSE: LAC) – Lithium developer; surged ~90% on reports the U.S. may seek up to a 10% stake to secure domestic supply.
• Albemarle (NYSE: ALB) – Major lithium producer; rose in sympathy as investors bid up lithium exposure following the LAC headlines.
• Alibaba (NYSE: BABA) – Chinese tech & cloud; jumped after unveiling its trillion-parameter Qwen3-Max model and signaling higher AI investment beyond the prior $53B plan.

Losers Of Note:

• Freeport-McMoRan (NYSE: FCX) – Copper & gold miner; plunged ~10–17% after cutting Q3 sales and declaring force majeure at Grasberg following a “wet-material” incident.
• Adobe (NASDAQ: ADBE) – Creative software; fell ~3–4% after a Morgan Stanley downgrade on Gen-AI monetization concerns.
• Micron Technology (NASDAQ: MU) – Memory & HBM chips; slid ~2–3% on profit-taking despite an upbeat revenue outlook.

Active Traders Of Note:

• Nvidia (NASDAQ: NVDA) – AI/GPU bellwether; high volume as tech cooled on valuation worries and a firmer dollar.
• Apple (NASDAQ: AAPL) – Consumer tech; active alongside megacap softness that pressured the Nasdaq.
• Lennar (NYSE: LEN) – Homebuilder; busy tape after new-home-sales strength lifted the group.

Looking Forward:

Focus now shifts to the core PCE inflation print later this week to gauge how many additional rate cuts the Fed can deliver without reigniting price pressures. Watch dispersion: policy-sensitive commodities and housing could keep diverging from high-multiple tech if yields or the dollar keep grinding higher. Single-name catalysts remain elevated—particularly across AI (product updates, capex plans) and critical minerals (policy support, strategic stakes).

Note: The stock performance summaries are based on general trends observed over the past ten trading days and are not indicative of future results.

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