(Updates to US afternoon trading)

*

Paramount Skydance ( PSKY ) gains on cost-cut, investment plans

*

Japan's SoftBank offloads Nvidia ( NVDA ) shares

*

CoreWeave ( CRWV ) drops after trimming annual revenue forecast

*

S&P 500 +0.24%, Nasdaq -0.17%, Dow +1.02%

By Purvi Agarwal and Noel Randewich

Nov 11 (Reuters) -

Wall Street stocks were mixed on Tuesday, with Nvidia ( NVDA ) and

other artificial intelligence-related companies falling on

renewed concerns about elevated valuations, while markets

monitored progress toward ending the longest U.S. government

shutdown.

Adding to jitters about AI-related stocks that have fueled

the market's rally in recent years, Japanese technology investor

SoftBank Group

disclosed

its sale of Nvidia ( NVDA ) shares for $5.8 billion. The

stock dropped 2.3%.

Nvidia ( NVDA )-backed CoreWeave's ( CRWV ) shares slumped over 14% after

the cloud computing firm trimmed its annual revenue forecast due

to data center hiccups.

Members of the U.S. House of Representatives headed back to

Washington after a 53-day break for a vote that could end the

longest U.S. government shutdown in history

, with the Polymarket betting platform fully pricing in a

resolution this week.

"Expectations are that the shutdown is over. ... People

will get back to work, economic data will be released once again

and uncertainty will be behind us," said CFRA Chief Investment

Strategist Sam Stovall.

Sentiment was dampened by a weekly update of ADP's

preliminary payroll figures showing that private employers shed

an average of 11,250 jobs a week for the four weeks ended

October 25.

U.S. President Donald Trump warned of an economic and national

security disaster if the Supreme Court ruled against his use of

an emergency powers law to impose sweeping tariffs.

The S&P 500 was up 0.24% at 6,848.91 points.

The Nasdaq declined 0.17% to 23,487.55 points, while the

Dow Jones Industrial Average was up 1.02% at 47,852.49 points.

Nine of the 11 S&P 500 sector indexes rose, led by

healthcare, up 1.92%, with drugmakers Eli Lilly ( LLY )

, Merck ( MRK ) and Amgen ( AMGN ) up between 2.5% and

4%.

The S&P 500 technology index dipped 0.6%.

Occidental Petroleum ( OXY ) gained 0.8% after the shale

producer beat third-quarter profit expectations.

AI-related stocks Palantir ( PLTR ) and Meta Platfoms

both fell more than 1%.

Paramount Skydance ( PSKY ) surged almost 9% after the

newly merged media firm announced more cost cuts and plans to

invest $1.5 billion in its streaming and studio divisions.

U.S. bond markets were closed for the Veterans Day holiday.

Advancing issues outnumbered falling ones within the S&P

500 by a 2.7-to-one ratio.

The S&P 500 posted 26 new highs and two new lows; the

Nasdaq recorded 89 new highs and 116 new lows.