S&P 500 Ends At Record As Dip Buyers Step In – US Market Wrap

Buyers stepped in for US stocks after concerns about Oracle plans for large capital spending on artificial intelligence infrastructure triggered a broad pullback from risk assets.

The S&P 500 recovered losses to finish up 0.2%, marking a closing record and returning near October’s intraday peak. Blue-chip and small-cap indexes, which have trailed throughout the tech-driven equity bull market, climbed to all-time highs. The Nasdaq 100 trimmed a 1.6% decline, although sentiment toward major tech names stayed cautious following Oracle disappointing earnings report, seen as a gauge of the AI investment boom.

Caution around AI heavyweights persisted, with Nvidia falling 1.5% as the Magnificent Seven slipped. Bitcoin pared a decline after dropping below $90,000. The dollar edged lower.

Oracle results renewed concern about stretched tech valuations and whether aggressive investment in AI infrastructure will generate meaningful returns. Those worries fueled weeks of volatility in November. Even though the sector has driven much of the S&P 500 advance this year, spending concerns have prompted some investors to rotate into other areas while the US economic outlook remains firm.

Oracle earnings arrived after the S&P 500 closed just below a record on Wednesday, supported by a Fed rate cut and Chair Powell positive assessment of the economy. Investors were encouraged that policymakers kept open the possibility of additional easing next year, even though the quarter-point cut drew three dissents. Traders continued to price in two cuts in 2026, even as Fed projections pointed to just one.