Last night, the US stock market once again experienced a divergent trend. The S&P and Dow hit new highs, with the Dow soaring 1.34% to 48,704 points, and the S&P also firmly staying above 6,901 points. However, the Nasdaq was less fortunate, falling 0.26% to close around 23,593 points.

The VIX fear index dropped 1.41% to 28.65, indicating that market sentiment remains relatively stable.

There’s some interesting movement in the tech sector—Google A took a heavy hit, plunging 2.43% and leading the declines, while Nvidia and Tesla also couldn't hold up, falling about 1.53%. Amazon and Apple dipped slightly by 0.27%, but Meta and Microsoft defied the trend, rising by 0.4% and 1.03%, respectively.

The performance of Chinese concept stocks was flat, with the Nasdaq Golden Dragon China Index falling only 0.09%. Among individual stocks, Kingsoft Cloud was the worst performer, plunging 5.4%. Boss Zhipin, ZaiDing Medicine, and Xpeng also declined, with drops ranging from 2.4% to 3.4%.

Other updates in the tech sector: Oracle crashed 10.83%, while Broadcom and Qualcomm saw minor declines. Netflix and Adobe, however, increased by 1.49% and 2.13%.

The most eye-catching stock was lululemon, which exploded 12% in the third quarter revenue data—this earnings report was truly explosive.

Overall, traditional blue chips are supporting the market, while tech and growth stocks face immense pressure.