01:38 PM EST, 11/12/2025 (MT Newswires) -- US equity indexes were mixed in midday trading on Wednesday as the Nasdaq Composite fell amid a decline in all of the Magnificent-7 stocks and expectations of a House vote to end the longest federal shutdown in the country's history.

The Nasdaq fell 0.3% to 23,408.6. The S&P 500 rose 0.2% to 6,856.1, after trading slightly lower earlier in the session. The Dow Jones Industrial Average climbed 0.9% to 48,351.3. Healthcare, financials, and materials led gainers intraday, while communication services, energy, and consumer discretionary were the steepest decliners.

For the week, technology and consumer cyclicals sat at the bottom of sector charts, while basic materials, healthcare, and financials perched at the top, implying a sector rotation out of the so-called artificial intelligence trade could be in play amid valuation concerns.

Among the Mag-7 stocks, the worst performer was Meta Platforms ( META ) , down 2.5% intraday, giving up a bulk of this year's gains in the aftermath of its plan to raise the lower end of its full-year 2025 capital expenditure outlook by $4 billion to $70 billion-$72 billion. Next year, the company expects capex growth to be "notably larger" amid higher AI-related expenses.

Palantir ( PLTR ) , the poster child for AI-trade, was among the biggest laggards intraday among stocks with a market capitalization of more than $200 billion, which includes all the Mag-7 stocks. The company has fallen out of favor after its Q3 beat-and-raise on Nov. 3 failed to justify its lofty 85 times price-to-sales ratio and a forward price-to-earnings ratio approaching 240 times.

The most telling indicator of this sentiment shift comes from short interest figures across major tech subsectors, S&P Global said in a Tuesday research note analysing the sell-off in technology last week. The companies in the North America Semiconductors and Semiconductor Equipment category now face a short interest of 0.285%, the highest level seen this year.

"These figures represent a significant move against the tech sector by institutional investors and hedge funds, who appear increasingly convinced that a correction is warranted after months of AI-fuelled enthusiasm drove valuations to ever higher levels," the S&P note said.

Gold futures jumped 2.1% to $4,202.91 per ounce, and Silver futures surged 4.9% to $53.23.

Most US Treasury yields fell, with the 10-year yield down 4.6 basis points to 4.06% and the two-year rate lower by 2.9 basis points to 3.56%.

Meanwhile, the chamber is set to vote Wednesday evening on the Senate-backed bill to reopen the federal government, CNN reported. House Speaker Mike Johnson told reporters he's "very optimistic" about the vote tally tonight, the news report said.

Investors cheered a possible end to the longest US government shutdown and "upbeat" earnings outlook from Advanced Micro Devices ( AMD ) , according to a note from D.A. Davidson.

Advanced Micro Devices ( AMD ) shares jumped 8.1% intraday, the top gainer on the S&P 500 and the Nasdaq, after the chipmaker set long-term financial targets, including robust revenue and earnings growth.