The S&P 500 climbed Monday as artificial intelligence stocks, led by Nvidia continued to rack up gains amid recent signs that spending on AI is far from over.
At 4:00 PM ET, the Dow Jones Industrial Average fell 225 points, or 0.5%, the S&P 500 index gained 0.2%, and the NASDAQ Composite rose 0.5%.
The S&P 500 and the Dow Jones Industrial Average climbed 2.3% and 2.5%, respectively, in October, while the NASDAQ Composite outperformed, gaining 4.7%. November is also typically a strong month for the stock market. Over the past five years, November has been the best month for the NASDAQ, averaging +6.8%.
AI stocks continue to shine, with Nvidia, Amazon leading to upside AI-related stocks continued to ramp up gains with NVIDIA Corporation (NASDAQ:NVDA) and Amazon.com Inc (NASDAQ:AMZN), up more than 2% and 4% respectively, leading the charge, though the former did loose some steam on trade-related concerns.
Just ahead the meeting between President Donald Trump and Chinese leader Xi Jinping, which took place last week, several top officials including Secretary of State Marco Rubio told Trump that a deal to allow Nvidia to export its AI Blackwell chips would threaten U.S. national security.
Investors will continue to watch the slew of earnings week for more insight into the AI theme, with key names including AMD and Palantir set to report.
There are another 100-plus companies reporting this week, including data analytics giant Palantir Technologies (NASDAQ:PLTR) after the closing bell on Monday.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. In August, the company, whose operations also involve software for the the defense sector, lifted its full-year revenue forecast for the second time in 2025, citing strong demand for its AI-linked services from both businesses and governments.
Advanced Micro Devices (NASDAQ:AMD) will report on Tuesday, with investors eyeing AI chip demand after strong results from rivals.
Uber Technologies (NYSE:UBER) and McDonald’s (NYSE:MCD) are due on Wednesday, offering a snapshot of consumer spending and service-sector resilience.
Elsewhere, Kenvue (NYSE:KVUE) stock soared after Kimberly-Clark (NASDAQ:KMB) said it will acquire the Tylenol maker in a deal valued at about $48.7 billion, creating a consumer goods giant.
Berkshire Hathaway (NYSE:BRKb) stock rose after Warren Buffett’s conglomerate reported strong third-quarter results, with its cash pile climbing to a record $381.7 billion, up from $277 billion a year earlier.
More than 300 S&P 500 companies have posted third-quarter results thus far, and of those, over 80% have beaten expectations, according to data from FactSet.
Additionally, U.S. companies are reporting earnings beats at one of the fastest rates on record, according to Goldman Sachs’ chief U.S. equity strategist David Kostin.
“We are now 63% of the way through 3Q 2025 earnings season,” Kostin wrote, and “the frequency of earnings ‘beats’ has been unprecedented outside of the COVID period.”
Goldman Sachs said 64% of S&P 500 firms have exceeded consensus earnings-per-share forecasts by at least one standard deviation, a rate “surpassed only during the COVID reopening period in 2020–2021.”
