U.S. stocks drifted around their records in a mixed day of trading. The S&P 500 added 0.1% Wednesday and neared its all-time high set a couple weeks ago. The Dow Jones Industrial Average climbed 0.7%, to set a record for the second straight day, while the Nasdaq composite slipped 0.3%. Advanced Micro Devices was the strongest force pushing upward on the market after forecasting strong growth in upcoming years thanks to AI. AI stocks have been shaky recently, as investors question whether they can add much more to their already spectacular gains. Treasury yields eased as bond trading resumed after a holiday.
Most U.S. stocks rose and carried the market back to where it was before last week’s swoon. The S&P 500 added 0.2% Tuesday after erasing a loss taken during the morning. It’s been bouncing around lately, coming off Monday’s vigorous rebound following its first losing week in four. The Dow Jones Industrial Average rallied 1.2% to a record, surpassing its prior all-time high set two weeks ago. The Nasdaq composite lagged the market, though, as Nvidia got back to falling amid continued concerns that stocks caught up in the artificial-intelligence frenzy may have become too expensive. The Nasdaq dipped 0.3%.
Tech advocacy group Public Citizen has demanded OpenAI withdraw Sora 2, citing safety concerns and threats to democracy from the AI video generator. The group argues that OpenAI has prioritized market speed over safety. OpenAI has faced backlash from public figures and has made some changes, but critics say these responses are insufficient and reactive. OpenAI launched the new Sora app on iPhones last month and on Android phones last week. Since then, AI-generated videos made on the app have flooded onto other social media platforms like TikTok, X, Instagram and Facebook.
Big Tech and other superstars of the U.S. stock market rallied, and Wall Street recovered most of its loss from last week. The S&P 500 climbed 1.5% Monday and clawed back nearly all its drop from last week, which was its first weekly loss in four. The Dow Jones Industrial Average rose 381 points, and the Nasdaq composite jumped 2.3% for its best day since May. Nvidia was by far the strongest force lifting the market. It was a powerful rebound after Nvidia and other winners of the frenzy around artificial-intelligence technology led last week’s drop. The U.S. market's rally followed gains for stock indexes around the world.
OpenAI is facing seven lawsuits claiming ChatGPT drove people to suicide and harmful delusions even when they had no prior mental health issues. The lawsuits filed Thursday in California state courts allege wrongful death, assisted suicide, involuntary manslaughter and negligence. Filed on behalf of six adults and one teenager by the Social Media Victims Law Center and Tech Justice Law Project, the lawsuits claim that OpenAI knowingly released GPT-4o prematurely, despite internal warnings that it was dangerously sycophantic and psychologically manipulative. Four of the victims died by suicide. OpenAI said it is reviewing the lawsuits.
Stocks gained ground on Wall Street following several upbeat economic updates and a steady flow of quarterly reports from U.S. companies. The S&P 500 rose 0.4% Wednesday. The Dow Jones Industrial Average climbed 0.5%, and the Nasdaq composite added 0.6%. McDonald’s rose after reporting that its sales benefited from the return of its popular Snack Wraps in the third quarter. Taser maker Axon Enterprise slumped after forecasting weaker profits than analysts were expecting. A report showed that the services sector expanded in October. European markets rose and Asian markets mostly fell.
Motion Picture Association tells Meta to stop using PG-13 to refer to Instagram teen account content
The Motion Picture Association is asking Meta to stop referring to content shown to teen accounts on Instagram as guided by PG-13 ratings, saying it is misleading. A lawyer on behalf of the MPA sent Meta Platforms a cease-and-desist letter asking the tech giant to “immediately and permanently disassociate its Teen Accounts and AI tools from the MPA’s rating system.” Meta said that its intent was never to suggest that it partnered with the MPA or that the material on Instagram had been rated by the movie association.
Stocks fell on Wall Street, pulled down by losses in the same big tech companies that have been the main drivers of the market's rally so far this year. The S&P 500 slid 1.2% Tuesday. The Dow Jones Industrial Average lost 0.5%. The drops in tech pulled the Nasdaq composite down 2%. Palantir Technologies, which had more than doubled so far this year, slumped 7.9% despite reporting results that beat analysts' forecasts. Nvidia also reversed course with a loss of 4%. Metsera jumped after a bidding war for the drug company heated up with a bid from Novo Nordisk.
Nvidia and other AI superstar stocks propped up Wall Street. The S&P 500 rose 0.2% Monday, even though the majority of stocks within the index fell. The Dow Jones Industrial Average dropped 0.5%, and the Nasdaq composite rose 0.5%. Nvidia was the strongest force lifting the market, much as it has been throughout 2025. Another AI winner, Amazon, rallied after announcing a deal with OpenAI. They helped offset a big loss for Kimberly-Clark, which fell after saying it would buy Kenvue, the maker of Tylenol. Stock indexes ended mixed in Europe following a stronger finish in Asia.
Udio, an AI song generation platform, has announced a 48-hour window starting Monday for users to download their songs. This move comes as the company shifts to a new business model following a legal settlement with Universal Music over copyright infringement claims. Last week, a tech industry lobby group urged federal intervention in AI copyright lawsuits, citing over 50 pending cases. Udio and Universal plan to launch a new streaming platform. The settlement marks the first in the music industry since major labels sued Udio and another AI song generator last year.