Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
The Nasdaq Composite closed at a record high Friday, boosted by Microsoft and Tesla as Wall Street awaited the Federal Reserve’s policy meeting next week. Investors widely expect the Fed to cut interest rates by 25 basis points to counter a cooling labor market and easing inflation.
Microsoft gained 1.8% after avoiding a hefty EU antitrust fine by offering reduced prices for Office without Teams. Tesla surged 7.4% after board chair Robyn Denholm dismissed concerns that CEO Elon Musk’s political activity hurt sales, emphasizing Musk’s active role at the company. Despite the rebound, Tesla shares remain down 2% in 2025.
The Nasdaq rose 0.45% to 22,141.10, while the S&P 500 slipped 0.05% to 6,584.29. The Dow Jones Industrial Average fell 0.59% to 45,834.22. Declines in Goldman Sachs and Sherwin-Williams weighed on the Dow, while healthcare and materials led losses across seven of 11 S&P sectors.
The University of Michigan’s survey showed U.S. consumer sentiment dropped for a second month in September, reflecting concerns about inflation, jobs, and business conditions. Futures markets now anticipate total rate cuts of 75 basis points by year-end.
For the week, the S&P 500 rose 1.6%, the Dow gained nearly 1%, and the Nasdaq advanced 2%, supported by a resurgence in artificial intelligence stocks after Oracle’s upbeat forecast. Warner Bros Discovery jumped 17% following reports of a potential takeover bid from Paramount Skydance.
Vaccine makers struggled, with Moderna dropping 7.4% and Pfizer and Novavax losing over 3% after reports linked COVID-19 vaccines to child fatalities.
Overall, declining S&P 500 stocks outnumbered advancers 3.3 to 1. The index posted 22 new highs versus 3 new lows, while the Nasdaq recorded 106 new highs and 43 new lows.
