A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Dec. 11, 2025. <\/p>\n
Jeenah Moon | Reuters<\/p>\n
The S&P 500<\/a> and Dow Jones Industrial Average<\/a> advanced on Thursday, with both hitting fresh closing records. The Russell 2000<\/a> index also ended the session at a new high, following the U.S. Federal Reserve’s quarter-point cut on Wednesday.<\/p>\n But if investors analyze Thursday’s individual stock movements, they will see not all is well with the AI play yet. Oracle<\/a> shares plunged nearly 11% after reporting on Wednesday weak quarterly revenue<\/a>, dragging down AI-related names such as Nvidia<\/a> and Micron<\/a>. <\/p>\n In extended trading, Broadcom<\/a> shares fell 4.5%. The chipmaker beat Wall Street’s expectations for earnings and revenue, but CEO Hock Tan appeared to have failed to address worries that their largest customer, Google<\/a>, might eventually make more of its chips in-house. Rising memory prices would also pressure margins, while the company’s chip deal with OpenAI might not be binding.<\/p>\n That’s why the tech-heavy Nasdaq Composite<\/a> fell 0.26% despite other major U.S. indexes hitting records. Putting the two together, that means investors are rotating out of tech into other parts of the market. The S&P 500 financials sector, for instance, closed at a fresh record, buoyed by jumps in Visa<\/a> and Mastercard<\/a>. <\/p>\n Even though the AI theme seems to be under scrutiny, other sectors are performing well on the back of a resilient U.S. economy \u2014 as signaled by Fed officials<\/a> on Wednesday \u2014 and buoyed by interest-rate cut. So long as nothing throws a spanner in the works, looks like we’re all set for a happy holiday season.<\/p>\n \u2014 CNBC’s Kristina Partsinevelos contributed to this report.<\/p>\n What you need to know today<\/p>\n New records for U.S. stocks. <\/strong>The S&P 500 and Dow Jones Industrial Average notched fresh highs on Thursday<\/a>, but the Nasdaq Composite, weighed down<\/a> by Oracle, underperformed and fell. The pan-European Stoxx 600<\/a> closed 0.5% higher<\/a>. <\/p>\n Disney to invest $1 billion in OpenAI. <\/strong>The media giant will also allow Sora, OpenAI’s video generator, to use its copyrighted characters<\/a>, under a $1 billion licensing agreement. “We think this is a good investment for the company,”<\/strong> Disney<\/a> CEO Bob Iger told CNBC.<\/p>\n SpaceX will launch IPO in 2026. <\/strong>Elon Musk confirmed the news in a post on X<\/a>, which follows multiple articles last week about the firm’s plans to go public<\/a>. Musk said over the weekend that reports of SpaceX’s $800 billion\u00a0valuation<\/a>\u00a0were “not accurate.”\u00a0<\/p>\n Broadcom’s fourth-quarter results beat expectations. <\/strong>The chipmaker also saw its net income nearly double from a year ago<\/a>, and issued a strong forecast for the current quarter on the back of AI demand. But shares slumped in extended trading.<\/a><\/p>\n [PRO] Where will Oracle go? <\/strong>Analysts are re-looking their price targets<\/a> for Oracle stock after the firm released a disappointing and confusing earnings report on Wednesday. <\/p>\n And finally…<\/p>\n An undated editorial illustration of Indian rupee cash bills and a stock market indicator board.<\/p>\n Javier Ghersi | Moment | Getty Images<\/p>\n India’s $3.3 trillion opportunity for global fund houses<\/strong><\/a><\/p>\n