Tech Gains Lift Wall Street as Nvidia Invests $3 Billion in Meta

Wall Street stocks moved mostly higher on Tuesday, driven by a rebound in technology shares. The Nasdaq rose 0.9 percent and the S&P 500 climbed 0.5 percent, while the Dow Jones Industrial Average edged down slightly. Market optimism followed a public filing for an initial public offering by Anthropic and a new partnership between Nvidia Inc. and Meta Platforms Incorporated to expand work on the Muse family of models.

As part of the collaboration, Nvidia invested $3 billion into Meta, which plans to raise up to $95 billion through equity financing. Economic sentiment also improved as the Conference Board reported an unexpected jump in U.S. consumer confidence to 91.7 for October.

Individual stock performance remained mixed. JetBlue shares soared 19 percent after the company reported fourth quarter margin expansion expectations, and UPS shares also rose following earnings reports. Conversely, The Boeing Company saw its shares plummet 10 percent after reporting a third-quarter loss that was wider than analysts expected.