US open: Nvidia climbs, Dow pares losses
By Iain Gilbert
Date: Wednesday 08 Oct 2025
(Sharecast News) - Wall Street trading got off to a positive start on Wednesday despite concerns surrounding a potential AI-driven market bubble.
As of 1515 BST, the Dow Jones Industrial Average was up 0.14% at 46,669.86, while the S&P 500 advanced 0.40% to 6,741.43 and the Nasdaq Composite came out of the gate 0.69% firmer at 22,944.89.
The Dow opened 66.88 points higher on Wednesday, taking a bite out of losses recorded in the previous session.
Nvidia was in focus early on Wednesday, rising more than 1% after chief executive Jensen Huang said, "this year, particularly the last six months, demand of computing has gone up substantially".
Huang's comments come just a day after The Information reported that Oracle's cloud margins were below analyst forecasts, and that the company was losing money on some Nvidia chip rental deals. The report added to growing fears that the current AI rally may be overheating, drawing comparisons to the late-1990s dot-com bubble.
The ongoing US Federal Government shutdown, which has now stretched into its eighth day, was also in focus before the open, with key data points being delayed.
On the macro front, US mortgage applications fell 4.7% in the week ended 3 October, according to the Mortgage Bankers Association of America, extending the 12.7% drop seen in the prior period and further trimming a recent three-week surge of 42%. Despite a fresh decline in benchmark mortgage rates, buyers remained cautious amid ongoing uncertainty around US borrowing costs, with demand shifting toward adjustable-rate loans, which accounted for 9.5% of total contracts, up from 8.4% a week earlier. Applications to refinance a mortgage, which are more sensitive to short-term rate moves, fell 8%, while applications to purchase a home eased 1% week-on-week.
Still to come, minutes from the Federal Reserve's latest policy meeting will be published at 1900 BST.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $526.41 0.46%
Home Depot Inc. (HD) $385.42 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
Nike Inc. (NKE) $69.00 0.00%
Salesforce.Com Inc. (CRM) $237.50 0.00%
Merck & Co. Inc. (MRK) $87.67 0.00%
Caterpillar Inc. (CAT) $494.29 0.00%
Walt Disney Co. (DIS) $112.80 0.00%
Johnson & Johnson (JNJ) $188.92 0.00%
Chevron Corp. (CVX) $153.40 0.00%
Dow Jones - Fallers
Merck & Co. Inc. (MRK) $87.67 0.00%
Caterpillar Inc. (CAT) $494.29 0.00%
Walt Disney Co. (DIS) $112.80 0.00%
Johnson & Johnson (JNJ) $188.92 0.00%
Chevron Corp. (CVX) $153.40 0.00%
Unitedhealth Group Inc. (UNH) $371.80 0.00%
Home Depot Inc. (HD) $385.42 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
Nike Inc. (NKE) $69.00 0.00%
Salesforce.Com Inc. (CRM) $237.50 0.00%
S&P 500 - Risers
Broadcom Inc. (AVGO) $342.82 1.91%
Cadence Design Systems Inc. (CDNS) $350.52 1.46%
NetApp Inc. (NTAP) $119.58 1.35%
Intuitive Surgical Inc. (ISRG) $443.11 0.49%
Microsoft Corp. (MSFT) $526.41 0.46%
United Airlines Holdings Inc (UAL) $96.88 0.24%
Equinix, Inc. (EQIX) $788.92 0.23%
Skyworks Solutions Inc. (SWKS) $74.43 0.12%
S&P 500 - Fallers
Marriott International - Class A (MAR) $265.17 -0.85%
Sba Communications Corp. (SBAC) $187.35 -0.63%
Principal Financial Group Inc (PFG) $83.06 -0.61%
Nektar Therapeutics (NKTR) $57.80 -0.34%
Microchip Technology Inc. (MCHP) $64.77 -0.29%
Costco Wholesale Corp. (COST) $913.24 -0.17%
Nasdaq 100 - Risers
Broadcom Inc. (AVGO) $342.82 1.91%
Cadence Design Systems Inc. (CDNS) $350.52 1.46%
Intuitive Surgical Inc. (ISRG) $443.11 0.49%
Microsoft Corp. (MSFT) $526.41 0.46%
Skyworks Solutions Inc. (SWKS) $74.43 0.12%
Nasdaq 100 - Fallers
Marriott International - Class A (MAR) $265.17 -0.85%
Sirius XM Holdings Inc (SIRI) $22.74 -0.39%
Microchip Technology Inc. (MCHP) $64.77 -0.29%
Costco Wholesale Corp. (COST) $913.24 -0.17%
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