Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Wall Street’s three major indexes closed at record highs on Thursday, driven largely by strength in the technology sector, even as investors weighed weak labor market signals during the ongoing U.S. government shutdown.
The Dow Jones Industrial Average added 78.62 points, or 0.17%, closing at 46,519.72. The S&P 500 edged up 4.15 points, or 0.06%, to 6,715.35, while the Nasdaq Composite advanced 88.89 points, or 0.39%, to 22,844.05. The Nasdaq was the day’s top gainer, supported by heavyweight technology stocks including Nvidia, Apple, and Broadcom. Both the Dow and the S&P 500 notched consecutive record closes, while the Nasdaq narrowly missed one after hitting an intraday high.
Investor focus turned to private labor market reports, as official government data remained unavailable due to the shutdown. Challenger, Gray & Christmas reported fewer layoffs in September, but noted that 2024 hiring plans are the weakest since 2009. This followed a softer-than-expected ADP employment report a day earlier, intensifying speculation about the Federal Reserve’s next moves. Markets are now widely pricing in two additional rate cuts this year, including one expected in late October.
Sector performance highlighted the tech industry’s 0.5% gain, with semiconductor stocks jumping 1.9% to reach a record closing high. Materials advanced 1%, while energy lagged, dropping 1%. Consumer discretionary was the biggest drag, as Tesla shares tumbled 5%, their steepest fall since July, despite strong quarterly deliveries. Analysts cited risks from the expiration of the $7,500 federal EV tax credit.
Other notable moves included sharp declines in Equifax (–8.5%) and TransUnion (–10.6%) after FICO launched a new credit score program that bypasses the bureaus, boosting its own shares nearly 18%. Occidental Petroleum fell 7.3% after announcing a $9.7 billion sale of its petrochemical unit to Berkshire Hathaway.
Despite shutdown worries, market breadth was positive, with advancing stocks outpacing decliners on both the NYSE and Nasdaq. Trading volume remained in line with the 20-day average, signaling steady investor confidence even in a cautious environment.
