Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Trump, Xi Focus on Trade and AI at White House Summit 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
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Wall Street closed sharply higher on Monday, driven by strong rebounds in major artificial intelligence (AI) and technology stocks, as hopes grew that Washington was nearing a resolution to the record-breaking U.S. government shutdown.
The longest shutdown in U.S. history appears close to ending after a bipartisan compromise to restore federal funding cleared a Senate hurdle late Sunday. Though final approval from Congress remains pending, investor sentiment turned positive.
“The shutdown had gone on longer than expected, raising concerns about the economy and potential travel disruptions,” said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
Tech giants led the charge, with Nvidia soaring 5.8%, Palantir jumping 8.8%, and Tesla gaining 3.7%. The S&P 500 technology sector, which had dropped 4.2% last week, bounced back strongly. “This is a classic ‘buy the dip’ rally,” said Ross Mayfield, investment strategist at Baird. “The AI theme remains solid, supported by strong earnings.”
The S&P 500 advanced 1.54% to 6,832.43, the Nasdaq surged 2.27% to 23,527.17—its biggest one-day gain since May 27—and the Dow Jones Industrial Average rose 0.81% to 47,368.63. Semiconductor stocks also surged, lifting the PHLX index 3%, while the small-cap Russell 2000 gained 0.9%.
Trading volume was slightly below average, with 17.9 billion shares exchanged. Meanwhile, airlines faced pressure amid flight cuts and staff shortages—United Airlines slipped 1.3% and American Airlines lost 2.5%.
Health insurers tumbled as the Senate deal ended the 40-day shutdown without extending Affordable Care Act subsidies. Centene plunged 8.8%, Humana fell 5.4%, and Elevance Health dropped 4.4%.
Elsewhere, Pfizer won a $10 billion bidding war for Metsera, sending Metsera shares down 14.8%. Eli Lilly gained 4.6% to a record high after an analyst upgrade.
Optimism over AI continues to drive Wall Street’s 2025 bull run, signaling renewed investor confidence in the tech-driven economy.
