Dow Jones gains 560 points, hits record close

Most US stock indexes closed higher on Nov. 11, while Nasdaq slipped amid continued pressure on the technology sector.

At the close, the Dow Jones Industrial Average climbed 1.18%, or 559 points, to 47,927 points, marking a new record close.

The broader S&P 500 index gained 0.21%, or 14 points, to 6,846 points, while the Nasdaq Composite dropped 0.25%, or 58 points, to 23,468 points.

Nasdaq’s decline came as investors shied away from the technology sector amid concerns over inflated valuations, with CoreWeave’s stock plunging 16.31% after the company issued disappointing financial estimates.

In Europe, the Stoxx Europe 600 index rose 1.30% to close at a record high of 580.13 points, supported by gains across most sectors and major exchanges.

Germany’s DAX added 0.55% to 24,096 points, France’s CAC 40 gained 1.25% to 8,156 points, and the UK’s FTSE 100 rose 1.15% to 9,899 points, also marking a record close.

In Japan, the Nikkei 225 index slipped 0.15% to close at 50,842 points, while the broader Topix index edged up 0.15% to 3,321 points.

As for oil, Brent crude futures for January delivery rose 1.72%, or $1.10, to settle at $65.16 per barrel.

US Nymex crude futures for December delivery increased 1.51%, or $0.91, to $61.04 per barrel.

Meanwhile, gold futures for December delivery fell 0.14%, or $5.7, to $4,116.30 per ounce.