Final Tally: Dividend Dads Take the Wheel After AI’s Check Engine Light Comes On

They had us in the first half, not gonna lie…

Well, the S&P 500 managed to squeeze out another modest +0.3% gain for its second straight green day… even as the almighty AI trade got dragged through the mud again. Investors suddenly rediscovered their affection for companies that actually make money, pushing the Dow up a clean 1.2%, while the Nasdaq took one on the chin and closed in the red (-0.2%).

Of course, it didn’t help that ADP’s latest private-sector report tossed a little cold water on the “everything’s fine” story. Job creation slowed by roughly 11,000 fewer per week through late October, reversing last week’s narrative that the labor market was still running hot.

The rotation was loud and proud. Merck (+3%), Amgen (+2.7%), and Johnson & Johnson (+2%) led the blue-chip parade, proving that in 2025, “old economy” names can still throw hands. Meanwhile, the tech bros were forced to eat their vegetables. Nvidia slipped -2% after SoftBank dumped its entire $5 billion stake… just days after selling T-Mobile stock for “AI spending money.” 

It also didn’t help that CoreWeave sank -15% after cutting guidance and admitting that hyperscaler spending is “normalizing” (every all tech portfolio’s biggest fear).

Over in the middle east, PIF-owned Rivian gained another 5% today (up 38% in five sessions) after earnings blew past expectations with $1.55 billion in revenue (78% YoY). Management even handed the CEO a Musk-style pay package to show everyone that they are still in fact Elon’s little brother.

In the grocery aisle, Maplebear (Instacart’s parent) delivered a 6% pop, with BMO and Deutsche Bank both calling it “best-in-class grocery delivery” and historically cheap. Translation: it’s still down bad since the IPO, but at least it brought snacks.

And if you know any air traffic controllers, check on them… they’re still living a nightmare. Planes are backed up, crews are fried, and Delta, United, Southwest, and American each slipped 1-2% as the post-shutdown chaos kept flight schedules in shambles.

Zooming out, it’s pretty clear the Dow’s strength vs. the Nasdaq’s sulk tells you exactly where the market’s head is… rotation city. Investors are taking profits from anything AI-flavored and parking it in value names that actually pay dividends and sell products people can pronounce.

If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.

At the time of publishing this article, Stocks.News holds positions in Merck, Johnson and Johnson, and United Airlines as mentioned in the article.