US stocks score new records; Nvidia does, too

The S&P 500 finished Monday with a record high, its 46th time in 2024, climbing 0.8% to top 5,850.

The Nasdaq 100 jumped 0.8% as well, while the Russell 2000 added 0.6%.

Technology led all major S&P 500 sectors. The Magnificent Seven mostly gained, except for Amazon. Nvidia was up 2.4% and closed at $138.07, surpassing its June record of $135.6.Tesla added 0.6% after plunging 8.8% on Friday.

Elsewhere, shares of financial stocks including PNC Financialand Citi gained ahead of tomorrow’s earnings, while Goldman Sachs finished the day at an all-time high.

Energy was the only sector that retreated on Monday, down 0.2%. November WTI crude futures were down 2.3% and December Brent price off 2% at settlement. While the geopolitical tensions in the Middle East had driven oil prices higher for two consecutive weeks, the lack of details on stimulus from China prompted investors to worry about crude oil demand.

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Max Knoblauch6h

Archer Aviation sinks after reporting better-than-expected Q3 loss, announces it will acquire LA’s Hawthorne Airport

Air taxi maker Archer Aviation reported its Q3 results on Thursday, and its shares climbed more than 6% before turning negative.

The company posted a loss per share of $0.20, better than the $0.30 loss analysts polled by FactSet expected.

Archer announced it would acquire Los Angeles’ Hawthorne Airport for $126 million as a strategic hub for its planned LA air taxi network.

Cash is vital for Archer, which is without revenue as it seeks FAA certification. The company ended its third quarter with $1.64 billion in cash (and equivalents), down from last quarter’s $1.72 billion but more than 3x the amount from the same period a year ago.

Archer’s rival Joby Aviation, which reported its third-quarter results on Wednesday, has a cash pile of $978.1 million.

Archer reported adjusted operating expenses of $121.2 million. Looking ahead, Archer said it expects adjusted earnings before interest and taxes to be a loss of between $110 million and $140 million for the fourth quarter. Wall Street expected a $120 million loss.

Earlier this week, Archer shares fell amid the IPO of its electric aircraft rival Beta Technologies. Archer shares are down about 9% this year as of Thursday’s close, far underperforming Joby’s growth of 76%.

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LIVE BLOG: Opendoor Technologies Q3 earnings call

Opendoor will be taking questions from its retail shareholders.

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The Trade Desk falls despite decent Q3 results

The ad tech platform has had a brutal 2025.

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DraftKings tumbles after Q3 sales miss, guidance snip

Shares of DraftKings, and rival Flutter Entertainment, were hammered in Q3 over the potential for prediction markets to eat into the traditional sports betting business.

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Take-Two plunges as “Grand Theft Auto 6” gets delayed again, to November 2026

“Grand Theft Auto” maker Take-Two posted its fiscal second-quarter earnings on Thursday.

Two screen display gameplay in Grand Theft Auto

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