Market Update
India WED
08 Oct, 2025
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Stock market indexes in Mumbai eased, and investors awaited the start of earnings season.
The Sensex index decreased 0.2%, the Nifty 50 index dropped 0.3%, and the rupee held at a record low of 88.77 against the U.S. dollar.
Gold prices touched a new record high in New York, London, and Mumbai amid worries of elevated geopolitical tensions and the U.S. debt level.
In Mumbai, the price of 24-carat gold touched ₹12,317 per gram, and the silver price advanced to ₹157 per gram.
Precious metal prices are likely to continue to scale new record highs as central banks in Asia, the Middle East, and the European Union replace their U.S. Treasury holdings with gold.
India Indexes and Stocks
The Sensex decreased 0.2% to 81,747.85, and the Nifty dropped 0.3% to 25,038.30.
KPIT decreased 1% to ₹1,158.50, and the information services company increased its stake in N-Dream by an additional 62.9%.
Tata Motors Ltd. dropped 1.1% to ₹690.40, and the company's JLR division's sales decreased 24.2% from a year ago in the September quarter.
Container Corporation of India decreased 0.2% to ₹531.60, and the company signed a strategic agreement with Ultra Cement to improve cement transport through the rail network.
Titan Company rose 4.1% to ₹3,560.10, and the specialty retailer reported an 18% increase in sales in the fiscal second quarter.
Japan's Real Wage Growth Retains Downward Trend In August
Akira Ito
08 Oct, 2025
Tokyo
Japan's indexes lacked direction, and investors reviewed the latest wage data and business confidence index.
The Nikkei 225 Stock Average decreased 0.2%, and the Topix advanced 0.4%.
Japan's real wages in August decreased for the eighth consecutive month, as inflation outpaced wage growth.
Japan's nominal wage increase slowed to an annual 1.5% in August from 3.4% in the previous month, the Ministry of Health, Labour and Welfare said.
The nominal wages, which include base and overtime pay, increased annually by 1.5% to 300,517 yen, or $2,000, and rose for the 44th consecutive month.
After adjusting for consumer price inflation of 3.1%, real wages declined 1.4%, and the ministry said the future trend in real wages is likely to be driven by inflation's trajectory.
Business Confidence Declined in October
The Reuters Tankan index for Japanese manufacturers declined to +8 in October from a three-year high of +13 in September, highlighting the first fall in four months as firms tackled U.S. tariffs and rising operating costs.
The index measuring confidence is likely to continue to ease and drop to +4 in January.
Of the nine manufacturing sectors surveyed, five reported a decrease in confidence.
The auto and transport machinery sector indicated the sharpest decrease, with the sector's index dropping to +9 from +33.
The vehicle and transportation industry, which accounts for one-third of the U.S. exports and employs about 8% of the workforce in Japan, dominates Japan's exports.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.2% to 47,834.65, and the Topix rose 0.4% to 3,241.81.
The Japanese yen weakened to 152, and extended this week's decrease to 3% after Sanei Takaichi was elected as the LDP's leader.
Tokyo Electron decreased 2.9% to ¥29,225.0, Advantest Corp. declined 0.3% to ¥17,960.0, and Disco Corp. eased 1.7% to ¥52,310.0.
Seven & I Holdings Co. Ltd rose 0.4% to ¥1,975.50, Fast Retailing rose 0.01% to ¥47,100.0, and Aeon Holding advanced 1.1% to ¥1,826.0.
Japan's Real Wage Growth Retains Downward Trend In August
Akira Ito
08 Oct, 2025
Tokyo
Japan's indexes lacked direction, and investors reviewed the latest wage data and business confidence index.
The Nikkei 225 Stock Average decreased 0.2%, and the Topix advanced 0.4%.
Japan's real wages in August decreased for the eighth consecutive month, as inflation outpaced wage growth.
Japan's nominal wage increase slowed to an annual 1.5% in August from 3.4% in the previous month, the Ministry of Health, Labour and Welfare said.
The nominal wages, which include base and overtime pay, increased annually by 1.5% to 300,517 yen, or $2,000, and rose for the 44th consecutive month.
After adjusting for consumer price inflation of 3.1%, real wages declined 1.4%, and the ministry said the future trend in real wages is likely to be driven by inflation's trajectory.
Business Confidence Declined in October
The Reuters Tankan index for Japanese manufacturers declined to +8 in October from a three-year high of +13 in September, highlighting the first fall in four months as firms tackled U.S. tariffs and rising operating costs.
The index measuring confidence is likely to continue to ease and drop to +4 in January.
Of the nine manufacturing sectors surveyed, five reported a decrease in confidence.
The auto and transport machinery sector indicated the sharpest decrease, with the sector's index dropping to +9 from +33.
The vehicle and transportation industry, which accounts for one-third of the U.S. exports and employs about 8% of the workforce in Japan, dominates Japan's exports.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.2% to 47,834.65, and the Topix rose 0.4% to 3,241.81.
Tokyo Electron decreased 2.9% to ¥29,225.0, Advantest Corp. declined 0.3% to ¥17,960.0, and Disco Corp. eased 1.7% to ¥52,310.0.
Seven & I Holdings Co. Ltd rose 0.4% to ¥1,975.50, Fast Retailing rose 0.01% to ¥47,100.0, and Aeon Holding advanced 1.1% to ¥1,826.0.
Hong Kong Indexes Dropped Amid Valuation Worries and Unresolved Trade Tensions
Li Chen
08 Oct, 2025
Hong Kong
Stocks in Hong Kong traded down amid worries about the stretched valuation of tech stocks and potential bubble formation.
The Hang Seng Index decreased 1%, the Hang Seng Tech Index declined 1.4%, and investors sold artificial intelligence-linked stocks.
Financial markets in mainland China are scheduled to reopen on Thursday after a weeklong public holiday.
Markets were under pressure, and tech stocks reflected overnight trading in New York, as investors worried that AI trade has become more circular.
In addition, the U.S. federal government shutdown entered its second week, and lawmakers remained far apart in bridging their differences and in finalizing a short-term budget.
Moreover, non-fiat assets continued to advance due to political uncertainties in the U.S., the European Union, and Japan.
Gold jumped 0.8% to $4,018 an ounce amid sustained global buying as central banks lighten their holdings of the U.S. Treasury notes.
Hong Kong Indexes and Stock Movers
The Hang Seng Index fell by 1% to 26,673.57, while the Hang Seng Tech Index dropped by 1.4%.
Alibaba Group Holding decreased 2.9% to HK$175.20, Tencent Holdings declined 2.4% to HK$674.50, and Meituan dropped 2.6% to HK$102.90.
BYD edged up 1.8% to HK110.0, Li Auto decreased 1.3% to HK$95.05, and Xpeng Inc. added 1.8% to HK$92.30.
Hong Kong Indexes Dropped Amid Valuation Worries and Unresolved Trade Tensions
Li Chen
08 Oct, 2025
Hong Kong
Stocks in Hong Kong traded down amid worries about the stretched valuation of tech stocks and potential bubble formation.
The Hang Seng Index decreased 1%, the Hang Seng Tech Index declined 1.4%, and investors sold artificial intelligence-linked stocks.
Financial markets in mainland China are scheduled to reopen on Thursday after a weeklong public holiday.
Markets were under pressure, and tech stocks reflected overnight trading in New York, as investors worried that AI trade has become more circular.
In addition, the U.S. federal government shutdown entered its second week, and lawmakers remained far apart in bridging their differences and in finalizing a short-term budget.
Moreover, non-fiat assets continued to advance due to political uncertainties in the U.S., the European Union, and Japan.
Gold jumped 0.8% to $4,018 an ounce amid sustained global buying as central banks lighten their holdings of the U.S. Treasury notes.
Hong Kong Indexes and Stock Movers
The Hang Seng Index fell by 1% to 26,673.57, while the Hang Seng Tech Index dropped by 1.4%.
Alibaba Group Holding decreased 2.9% to HK$175.20, Tencent Holdings declined 2.4% to HK$674.50, and Meituan dropped 2.6% to HK$102.90.
BYD edged up 1.8% to HK110.0, Li Auto decreased 1.3% to HK$95.05, and Xpeng Inc. added 1.8% to HK$92.30.
Corporate Deal Making Booms, Indexes Scale New Record Highs, Shutdown Approaches Second Week
Barry Adams
07 Oct, 2025
New York City
Popular indexes on Wall Street flatlined after scaling new highs this week and extending a nine-month rally.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite declined 0.2% amid growing worries about stretched valuation.
The yield on 10-year U.S. Treasury notes increased to 4.17%, and the U.S. dollar index inched higher 0.3% to 98.44.
The S&P 500 index notched up its 32nd new record high, and the Nasdaq touched its 31st new record high as of the close of Monday as investors overlooked the ongoing government shutdown.
The shutdown has delayed the release of payroll data, international trade statistics, and a budget statement.
Despite the statistical data blackout, investors are holding out for at least two more rate cuts this year.
The S&P 500 index and the Nasdaq Composite are hovering in record territory, driven by AI-linked circular trade as the leading tech companies plow billions of dollars into data centers and advanced chips.
On the earnings front, investors are awaiting results from Pepsi and Delta Air Lines, and major banks are scheduled to release their quarterly results next week.
U.S. Stock Movers
Trilogy Metals Inc. soared 224% to $6.79 after the U.S. government acquired a 10% stake in the mineral explorer in Alaska for $35.6 million.
"The Company has a 50% interest in the 190,929-hectare Upper Kobuk Mineral Projects, which hosts numerous areas containing high-grade volcanogenic massive sulfide and carbonate replacement-style polymetallic zones of mineralization," according to the company's website.
Constellation Brands rose 2.5% to $143.60, and the company's quarterly results surpassed market expectations.
The distributor of beer, wine, and spirits retained its lowered annual outlook, citing macroeconomic headwinds.
AEHR Test Systems dropped 21% to $24.84, and the company that tests semiconductor equipment reported adjusted earnings per share of 1 cent on revenue of $11 million in its latest quarter.
The company also refused to reinstate its annual outlook, citing ongoing tariff-related uncertainty.
Intercontinental Exchange Inc. jumped 3.2% to $164.03 after the company took a $2 billion stake in the prediction markets platform operator Polymarket.
The latest investment values the consumer-focused company at $8 billion.
Corporate Deal Making Booms, Indexes Scale New ReHighs, Shutdown Approaches Second Week
Barry Adams
07 Oct, 2025
New York City
Popular indexes on Wall Street flatlined after scaling new highs this week and extending a nine-month rally.
The S&P 500 index decreased 0.1%, and the tech-heavy Nasdaq Composite declined 0.2% amid growing worries about stretched valuation.
The yield on 10-year U.S. Treasury notes increased to 4.17%, and the U.S. dollar index inched higher 0.3% to 98.44.
The S&P 500 index notched up its 32nd new record high, and the Nasdaq touched its 31st new record high as of the close of Monday as investors overlooked the ongoing government shutdown.
The shutdown has delayed the release of payroll data, international trade statistics, and a budget statement.
Despite the statistical data blackout, investors are holding out for at least two more rate cuts this year.
The S&P 500 index and the Nasdaq Composite are hovering in record territory, driven by AI-linked circular trade as the leading tech companies plow billions of dollars into data centers and advanced chips.
On the earnings front, investors are awaiting results from Pepsi and Delta Air Lines, and major banks are scheduled to release their quarterly results next week.
U.S. Stock Movers
Trilogy Metals Inc. soared 224% to $6.79 after the U.S. government acquired a 10% stake in the mineral explorer in Alaska for $35.6 million.
"The Company has a 50% interest in the 190,929-hectare Upper Kobuk Mineral Projects, which hosts numerous areas containing high-grade volcanogenic massive sulfide and carbonate replacement-style polymetallic zones of mineralization," according to the company's website.
Constellation Brands rose 2.5% to $143.60, and the company's quarterly results surpassed market expectations.
The distributor of beer, wine, and spirits retained its lowered annual outlook, citing macroeconomic headwinds.
AEHR Test Systems dropped 21% to $24.84, and the company that tests semiconductor equipment reported adjusted earnings per share of 1 cent on revenue of $11 million in its latest quarter.
The company also refused to reinstate its annual outlook, citing ongoing tariff-related uncertainty.
Intercontinental Exchange Inc. jumped 3.2% to $164.03 after the company took a $2 billion stake in the prediction markets platform operator Polymarket.
The latest investment values the consumer-focused company at $8 billion.
Japan's Household Spending Advanced Fourth Consecutive Month In August
Akira Ito
07 Oct, 2025
Tokyo
Stock market indexes in Tokyo traded at new record highs amid optimism about a fiscal policy shift and the continuation of ultra-loose monetary policy.
The Nikkei 225 Stock Average increased 0.7%, the broader Topix increased 0.3%, and the yen hovered near a recent low of 150.43 against the U.S. dollar.
The newly elected LDP leader, Sanei Takaichi, is expected to urge the Bank of Japan to maintain its ultra-loose monetary stance, driving the yen down 2% in two days.
Japan's Household Spending and Income Advanced In August
Japan's household income and spending adjusted for inflation increased in August, according to a monthly report released by the Ministry of Internal Affairs and Communication.
Spending by households of two or more rose by a real 2.3% from a year ago to 313,977 yen, or $2,100, in August, and increased for the fourth consecutive month.
Spending on transportation and communications increased 13.5%, culture and recreation rose 12.2%, energy and water advanced 4.7%, and food decreased 1.2%.
Spending on food accounts for 30% of total household spending, and food spending headed lower partly because people stepped up emergency food stockpiling a year ago due to an earthquake advisory.
Household income fortwo or more salaried individuals, adjusted for inflation, increased 2.8% from a year ago to 608,578 yen, according to the ministry.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 0.7% to 48,264.98, and the broader Topix edged up 0.3% to 3,235.13.
Technology stocks continued to advance after OpenAI struck a supply deal for advanced chips with AMD and acquired an option to take up to a 10% stake in the chipmaker.
Tokyo Electron rose 0.2% to ¥30,640.0, Advantest Corp. gained 2.7% to ¥18,375.0, and Disco Corp. decreased 1.4% to ¥53,180.0.
Japan's Household Spending Advanced Fourth Consecutive Month
Akira Ito
07 Oct, 2025
Tokyo
Stock market indexes in Tokyo traded at new record highs amid optimism about a fiscal policy shift and the continuation of ultra-loose monetary policy.
The Nikkei 225 Stock Average increased 0.7%, the broader Topix increased 0.3%, and the yen hovered near a recent low of 150.43 against the U.S. dollar.
The newly elected LDP leader, Sanei Takaichi, is expected to urge the Bank of Japan to maintain its ultra-loose monetary stance, driving the yen down 2% in two days.
Japan's Household Spending and Income Advanced In August
Japan's household income and spending adjusted for inflation increased in August, according to a monthly report released by the Ministry of Internal Affairs and Communication.
Spending by households of two or more rose by a real 2.3% from a year ago to 313,977 yen, or $2,100, in August, and increased for the fourth consecutive month.
Spending on transportation and communications increased 13.5%, culture and recreation rose 12.2%, energy and water advanced 4.7%, and food decreased 1.2%.
Spending on food accounts for 30% of total household spending, and food spending headed lower partly because people stepped up emergency food stockpiling a year ago due to an earthquake advisory.
Household income fortwo or more salaried individuals, adjusted for inflation, increased 2.8% from a year ago to 608,578 yen, according to the ministry.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 0.7% to 48,264.98, and the broader Topix edged up 0.3% to 3,235.13.
Technology stocks continued to advance after OpenAI struck a supply deal for advanced chips with AMD and acquired an option to take up to a 10% stake in the chipmaker.
Tokyo Electron rose 0.2% to ¥30,640.0, Advantest Corp. gained 2.7% to ¥18,375.0, and Disco Corp. decreased 1.4% to ¥53,180.0.
U.S. Indexes Attempt to Extend Winning Streak to Fifth Consecutive Week, AMD In Focus
Barry Adams
06 Oct, 2025
New York City
U.S. stock market indexes overlooked the continued federal government shutdown, and investors shifted their focus on the upcoming earnings season.
The S&P 500 index edged up 0.3%, and the tech-heavy Nasdaq Composite advanced 0.5% as political stalemate dampened risk appetite.
Lawmakers of both parties stuck to their positions, and the political impasse shows few signs of unlocking.
In addition, the lack of fresh macroeconomic data released by the government agencies complicated the outlook for monetary policy.
The shutdown has delayed the release of September payroll data, leaving investors with less visibility of the inner workings of the U.S. economy.
The economic data blackout is likely to continue this week as lawmakers of both parties struggle to strike a compromise and end the federal government shutdown.
Later in the week, we plan to release the international trade data, weekly jobless claims, and the federal budget statement.
France's benchmark indexes dropped 1.5% after Prime Minister Sebastien Lecornu tendered his resignation after 27 days on Monday, plunging the country into a deeper political crisis.
Gravity-Defying Global Markets Rally Continued Unabated
Last week, stock market indexes on both sides of the Atlantic continued to defy gravity and scale new record highs amid an AI-powered global rally.
Despite the ongoing macroeconomic headwinds and U.S. policy missteps, the narrow market rally pushed indexes to new record highs amid AI enthusiasm and earnings optimism.
European markets flirted with new record highs, largely because of international fund flows and optimism about the defense spending. Investors overlooked growing political instability in France and worries about elevated debt levels in France and the UK.
Markets in China struggled to hold on to recent gains as investors questioned the durability of the liquidity-driven rally amid intense competition in several key industries, including manufacturers of electric vehicles, renewable energy products, and industrial robots.
U.S. Stock Movers
Advanced Micro Devices gained 26% to $208.39, and OpenAI signed a supply deal with the chipmaker and could take a 10% stake in the company.
Fifth Third Bancorp decreased 2.4% to $43.38, and the regional bank agreed to acquire its rival Comerica Inc. for $10.9 billion in an all-stock transaction.
Comercia jumped 12% to $79.30.
U.S. Indexes Attempt to Extend Winning Streak to Fifth Consecutive Week, AMD In Focus
Barry Adams
06 Oct, 2025
New York City
U.S. stock market indexes overlooked the continued federal government shutdown, and investors shifted their focus on the upcoming earnings season.
The S&P 500 index edged up 0.3%, and the tech-heavy Nasdaq Composite advanced 0.5% as political stalemate dampened risk appetite.
Lawmakers of both parties stuck to their positions, and the political impasse shows few signs of unlocking.
In addition, the lack of fresh macroeconomic data released by the government agencies complicated the outlook for monetary policy.
The shutdown has delayed the release of September payroll data, leaving investors with less visibility of the inner workings of the U.S. economy.
The economic data blackout is likely to continue this week as lawmakers of both parties struggle to strike a compromise and end the federal government shutdown.
Later in the week, we plan to release the international trade data, weekly jobless claims, and the federal budget statement.
France's benchmark indexes dropped 1.5% after Prime Minister Sebastien Lecornu tendered his resignation after 27 days on Monday, plunging the country into a deeper political crisis.
Gravity-Defying Global Markets Rally Continued Unabated
Last week, stock market indexes on both sides of the Atlantic continued to defy gravity and scale new record highs amid an AI-powered global rally.
Despite the ongoing macroeconomic headwinds and U.S. policy missteps, the narrow market rally pushed indexes to new record highs amid AI enthusiasm and earnings optimism.
European markets flirted with new record highs, largely because of international fund flows and optimism about the defense spending. Investors overlooked growing political instability in France and worries about elevated debt levels in France and the UK.
Markets in China struggled to hold on to recent gains as investors questioned the durability of the liquidity-driven rally amid intense competition in several key industries, including manufacturers of electric vehicles, renewable energy products, and industrial robots.
U.S. Stock Movers
Advanced Micro Devices gained 26% to $208.39, and OpenAI signed a supply deal with the chipmaker and could take a 10% stake in the company.
Fifth Third Bancorp decreased 2.4% to $43.38, and the regional bank agreed to acquire its rival Comerica Inc. for $10.9 billion in an all-stock transaction.
Comercia jumped 12% to $79.30.
Japan' Nikkei 225 Soared 4% After Conservative Takaichi Elected as Ruling Party Leader
Akira Ito
06 Oct, 2025
Tokyo
The Liberal Democratic Party elected a new leader, which could lead Japan and set the country's economy on a different path.
The Nikkei 225 Stock Average soared more than 4%, and the broader Topix jumped nearly 3% following the election of an ultra-conservative, Sanae Takaichi, as the next leader of the LDP.
The Japanese yen plunged 2% to 150.13 amid hopes of pro-stimulus policies and additional political pressure to slow future interest rate hikes.
The ruling party's leader is likely to win parliament's confirmation later in the month as the next prime minister of Japan.
Divided opposition parties are struggling to put a candidate under a unified banner, paving the way for Takaichi to be the first female prime minister of Japan.
Financial markets soared following the election results on the hopes that the Takaichi government may provide additional stimulus and support economic expansion.
During her victory speech, Takaichi emphasized the need for closer cooperation between the government and the central bank and set the stage for more stimulus measures to support domestic demand.
The LDP and its junior political partner, the Komeito Party, have the largest bloc of candidates in parliament, but the minority government needs support from the opposition parties to pass budgets and laws.
Japan Indexes and Stocks
The Nikkei 225 Stock Average soared 4.5% to 47,835.36, and the Topix added 2.8% to 3,218.68.
Technology stocks soared, tracking Friday's gains in New York amid ongoing enthusiasm about AI and earnings optimism.
Tokyo Electron soared 7.7% to ¥30,690.0, Advantest Corp. jumped 13.3% to ¥17,740.0, and Lasertec Corp. catapulted 6.8% to ¥21,370.0.
Japan' Nikkei 225 Soared 4% After Conservative Takaichi Elected as Ruling Party Leader
Akira Ito
06 Oct, 2025
Tokyo
The Liberal Democratic Party elected a new leader, which could lead Japan and set the country's economy on a different path.
The Nikkei 225 Stock Average soared more than 4%, and the broader Topix jumped nearly 3% following the election of an ultra-conservative, Sanei Takaichi, as the next leader of the LDP.
The ruling party's leader is likely to win parliament's confirmation later in the month as the next prime minister of Japan.
Divided opposition parties are struggling to put a candidate under a unified banner, paving the way for Takaichi to be the first female prime minister of Japan.
Financial markets soared following the election results on the hopes that the Takaichi government may provide additional stimulus and support economic expansion.
During her victory speech, Takaichi emphasized the need for closer cooperation between the government and the central bank and set the stage for more stimulus measures to support domestic demand.
The LDP and its junior political partner, the Komeito Party, have the largest bloc of candidates in parliament, but the minority government needs support from the opposition parties to pass budgets and laws.
Japan Indexes and Stocks
The Nikkei 225 Stock Average soared 4.5% to 47,835.36, and the Topix added 2.8% to 3,218.68.
Technology stocks soared, tracking Friday's gains in New York amid ongoing enthusiasm about AI and earnings optimism.
Tokyo Electron soared 7.7% to ¥30,690.0, Advantest Corp. jumped 13.3% to ¥17,740.0, and Lasertec Corp. catapulted 6.8% to ¥21,370.0.
AI Optimism Supports Fresh Highs On Wall Street
Barry Adams
03 Oct, 2025
New York City
U.S. indexes pointed higher and stretched deeper into record territory amid continued optimism about artificial intelligence-driven companies.
The S&P 500 index edged up 0.3%, and the tech-heavy Nasdaq Composite gained 0.4% as the federal government shutdown entered the third day.
In the past, the federal government shutdowns have had limited impact on the U.S. economy and market levels; however, this time the economy is in a fragile condition amid a cooling labor market and inflation risks.
In addition, the U.S. labor department will not release September's nonfarm payrolls on Friday because of the shutdown.
Over the last three months, the AI-driven market rally has powered the narrow gains, as benchmark indexes scale new record highs.
For the week-to-date, the S&P 500 gained 1.1%, the Nasdaq Composite advanced 1.6%, and the Tollbooth Strategy Index gained 1.2%.
Across the Atlantic, benchmark indexes in France, Germany, and the U.K. extended weekly gains to over 2% and hovered near record highs.
Japan's market indexes edged lower ahead of the LDP's leadership election on Saturday, and markets in India extended weekly gains to 0.4%, driven by the optimism surrounding the start of the Diwali holiday retail season.
U.S. Stock Movers
Applied Materials Inc. decreased 2.2% to $218.90 after the company said in a regulatory filing that new export restrictions will negatively impact revenue.
The company said new export restrictions to China will reduce revenue in the fourth quarter by $110 million and in fiscal year 2026 by $600 million.
USA Rare Earth Inc. increased 9.5% to $24.98 after CEO Barbara Humpton hinted at a possible investment by the Trump administration in the company.
AI Optimism Support Fresh Highs On Wall Str
Barry Adams
03 Oct, 2025
New York City
U.S. indexes pointed higher and stretched deeper into record territory amid continued optimism about artificial intelligence-driven companies.
The S&P 500 index edged up 0.3%, and the tech-heavy Nasdaq Composite gained 0.4% as the federal government shutdown entered the third day.
In the past, the federal government shutdowns have had limited impact on the U.S. economy and market levels; however, this time the economy is in a fragile condition amid a cooling labor market and inflation risks.
In addition, the U.S. labor department will not release September's nonfarm payrolls on Friday because of the shutdown.
Over the last three months, the AI-driven market rally has powered the narrow gains, as benchmark indexes scale new record highs.
For the week-to-date, the S&P 500 gained 1.1%, the Nasdaq Composite advanced 1.6%, and the Tollbooth Strategy Index gained 1.2%.
Across the Atlantic, benchmark indexes in France, Germany, and the U.K. extended weekly gains to over 2% and hovered near record highs.
Japan's market indexes edged lower ahead of the LDP's leadership election on Saturday, and markets in India extended weekly gains to 0.4%, driven by the optimism surrounding the start of the Diwali holiday retail season.
U.S. Stock Movers
Applied Materials Inc. decreased 2.2% to $218.90 after the company said in a regulatory filing that new export restrictions will negatively impact revenue.
The company said new export restrictions to China will reduce revenue in the fourth quarter by $110 million and in fiscal year 2026 by $600 million.
USA Rare Earth Inc. increased 9.5% to $24.98 after CEO Barbara Humpton hinted at a possible investment by the Trump administration in the company.