Stock Market Today: AVGO Pens Anthropic Deal, NVDA Invests in META, BA Plunges #shorts

Welcome to the rap. [music] I'm Marley Kaden here to take you through today's market action. Let's take a look at where markets closed to end the day. The S&P 500 was up half a percent. The Dow was slightly above the unchanged line. The Nasdaq 100 led the group with a gain of 1 and a4% and the small cap Russell 2000 was higher by just over 1%. [music] As we take a look at the leading and lagging sectors on the day, to the upside, consumer discretionary and technology both ended the session up around one and a half percent. Materials was higher by a little more than a half a percent, but energy was one of the big lagards, falling 2 and a4%. Real estate and consumer staples both ended the session down more than 1%. As we look at stocks that were on the move, Broadcom closed the day higher after it arranged $63 billion in financing for Anthropic to purchase Broadcom specialized AI chips and networking gear. The transaction is the largest AI debt deal ever and is being led by Bank of America, Blackstone City, and Morgan Stanley with Broadcom providing some financial guarantees. And Nvidia announced it will invest $3 billion in Meta Platform's equity offering. The two companies will partner to expand their work on the Muse family of AI models to improve inference and training performance. Meta also intends to expand the deployment of NVIDIA's chips for its next generation AI agents. and shares of Boeing plummeted to an 18-month low after comments from CEO Kelly Ortberg during the company's earnings call. He warned that it would take longer than expected to increase production of its 737 Max jets, which threatens aircraft deliveries and future cash flow. Boeing now expects to reach a production rate of 47 737 jets a month in early 27 rather than this year. The delay means that Boeing will fall short of its previous target of delivering 500 commercial aircrafts in 2026. As we look ahead at what to watch for on Wednesday, all eyes will be on the Fed at 2 PM as it will announce its rate decision, followed by the press conference from Fed Chair Worsh at 2:30 p.m. Eastern. Expectations are for the Fed to hold rates steady with the CME Fed Watch tool putting the odds of a hold at 90%. It's also a big day for earnings with GE Vernova out in the morning along with Philip 66 and Boston Scientific. Then after the bell, we're going to have reports from Microsoft, Alphabet, Service Now, KLA Corp, Carvana, Chipotle, FedEx, T-Mobile, and eBay. That's going to do it for the rap. I'm Marley Kaden. Remember, you can tune in 247 to schwabnetwork.com and subscribe to our YouTube channel.