(Updates to market close)

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Advanced Micro Devices ( AMD ) gains after upbeat long-term

forecasts

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IBM gains on new quantum computing chips

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Investors watch progress toward end of government shutdown

By Noel Randewich and Twesha Dikshit

Nov 12 (Reuters) - Wall Street's main indexes were mixed

on Wednesday, with the Dow notching a record high close and the

Nasdaq losing ground as investors rotated out of pricey

technology stocks while focusing on a likely end to a historic

U.S. government shutdown.

The House of Representatives was set to end the longest

government shutdown in U.S. history, with a vote on a stopgap

funding package to restart disrupted food assistance, pay

hundreds of thousands of federal workers and revive a hobbled

air traffic control system.

Still, President Donald Trump will have to sign the

compromise into law.

"That should be positive from a sentiment standpoint,

removing one of the key risks that's out there. As well, the

proper functioning of the federal government and the FAA

(Federal Aviation Administration) and airline system is

important to the operation of the real economy," said Bill

Northey, senior investment director at U.S. Bank Wealth

Management, in Billings, Montana.

Gains in shares of Goldman Sachs ( GS ) and UnitedHealth

Group ( UNH ) lifted the Dow to its second straight record high

close. The index is up about 14% in 2025, lagging a rise of

about 17% in the S&P 500.

Some of Wall Street's tech-related heavyweights lost ground,

including Amazon ( AMZN ), Tesla and Palantir ( PLTR ).

AMD rallied after the chip designer unveiled a $100

billion data-center revenue target.

"We have seen somewhat of a rotation away from Nasdaq-heavy

leadership toward other areas of the market doing pretty well,

like healthcare and financials," said Matt Stucky, chief equity

portfolio manager at Northwestern Mutual.

"A critical component for seeing markets broaden out is

having earnings broaden out as well."

SoftBank Group's $5.8 billion sale of its Nvidia ( NVDA ) stake

jolted stock markets on Tuesday, stoking fears that the frenzy

around artificial intelligence may have peaked, especially after

recent warnings from Wall Street bank chiefs and a famed short

seller. Nvidia's ( NVDA ) quarterly report next Wednesday will be a key

test of investor sentiment around AI.

According to preliminary data, the S&P 500 gained

4.45 points, or 0.08%, to end at 6,852.03 points, while the

Nasdaq Composite lost 57.82 points, or 0.25%, to

23,410.48. The Dow Jones Industrial Average rose 327.72

points, or 0.69%, to 48,259.75.

SHUTDOWN WEIGHS ON ECONOMY

The government shutdown has weighed on the economy and

created a data gap for both the Federal Reserve and traders,

leaving them reliant on private economic indicators.

Tuesday's weekly update of ADP's preliminary payroll figures

showed private employers shedding an average of 11,250 jobs a

week for the four weeks ended October 25, pointing to continued

weakness in the labor market.

Traders are pricing in a 65% probability of a quarter-point

reduction at December's monetary policy meeting, CME Group's

FedWatch tool showed.

Atlanta Fed President Raphael Bostic said he would retire

when his term ends in February, amid concerns of a push by Trump

for more influence over the Fed.