Stock Market News, Nov. 20, 2023: Microsoft Stock Sets Record High; OpenAI in Turmoil After

Artificial intelligence was back in the spotlight Monday, this time with some human drama attached to it.

The AI news will continue Tuesday, when Nvidia reports its quarterly results. The chip maker’s stock—which has been a big contributor to the S&P 500’s gains this year—also closed at a record high.

U.S. stocks closed higher, led by the tech-heavy Nasdaq Composite. All three major indexes were coming off a third straight weekly advance.

Bayer shares fell sharply after the company said it’s halting a trial for an experimental cardiovascular drug. Shares of Bristol Myers Squibb, which is developing a similar drug, also fell.

Treasury yields extended recent declines after a government auction of 20-year bonds met with strong demand from investors. The 10-year yield settled at 4.421%, down from 4.441% Friday.

Some Argentinian stocks listed in the U.S. jumped after outsider Javier Milei won Argentina’s presidential election.

The dollar weakened, with the Chinese yuan and the Japanese yen among the biggest gainers against the greenback.

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