Equities extended their rally, with the S&P 500 advancing 0.85% to close at 6,587.47, the Nasdaq gaining 0.72% to 22,043.07, and the Dow Jones Industrial Average rising 1.36% to 46,108. The Russell 2000 charged up a solid 1.83% at 2,421.53. The day marked fresh record highs for large-cap indices amid mixed economic signals and robust interest in AI/cloud stocks.
Macroeconomic Reports
Today’s Consumer Price Index (CPI) showed inflation rising at an annual rate of 2.9% in August, slightly warmer than expectations, driven by shelter, food, and energy costs. Jobless claims jumped sharply to 263,000, the highest in nearly four years, which overshadowed CPI news and signaled renewed stress in the U.S. labor market. The IMF noted moderating domestic demand and slowing U.S. job growth, with tariff-driven inflation risks on the rise.
Noteworthy Stock News and Movements
Apple (AAPL)
Apple shares ticked up +1.43% to $230.03 as investors digested this week’s product launches, with mixed sentiment on iPhone Air and wearable upgrades. No major news emerged today to shift price action.
Broadcom (AVGO)
Broadcom shares fell 2.69% to $359.63 after being buoyed by strong AI chip demand and cloud expansion.
NVIDIA (NVDA)
NVIDIA closed .08% lower t $177.17 after its latest Rubin CPX launch, with analysts highlighting sector tailwinds from ongoing AI infrastructure spending. Investors continue watching rival Broadcom’s recent momentum for potential market share shifts.
Tesla (TSLA)
Tesla shares popped a cool 6.04% to $368.81 as the company faces mounting competition and weaker EV market share. Recent consumer sentiment around Full Self-Driving remains a wild card for share performance,
Meta Platforms (META)
Meta traded lower by .14% to $750.90, as anticipation builds ahead of next week’s Connect event focusing on AI-powered products and software innovations. Analyst consensus remains positive, projecting increased monetization from smart hardware.
McDonald’s (MCD)
McDonald’s maintained steady trading closing up .81% to $308.43 amid ongoing menu price revisions intended to boost value perception for cost-sensitive consumers. The impact on foot traffic remains under observation.
Opendoor Technologies (OPEN)
Opendoor Technologies (OPEN, $10.52, +79.52%) delivered a dramatic surge in its share price after announcing Kaz Nejatian, former Shopify COO, as the company’s new Chief Executive Officer. The leadership overhaul also brings co-founders Keith Rabois (as Chairman) and Eric Wu back to the board, with fresh capital commitments totaling $40 million from Khosla Ventures and Wu to support ongoing investments. Nejatian enters with an aggressive compensation package tied to long-term stock performance, and the company is returning to “founder mode” in an effort to restore stability and growth following CEO Carrie Wheeler’s recent departure under investor pressure.
The market responded euphorically, sending OPEN shares up by 75%–78% on Thursday, hitting a fresh three-year high above $10 intraday and closing at $10.19, with trading volume exploding and the market cap nearing $7 billion. Year-to-date, Opendoor stock has advanced more than 470% as retail investors embrace its turnaround narrative, though analysts warn that volatility and valuation risks remain elevated if execution falls short or real estate fundamentals deteriorate.
Maze Therapeutics (MAZE)
Maze Therapeutics announced an oversubscribed $150 million private placement to accelerate development of its kidney and metabolic disease programs. The financing, managed by J.P. Morgan and Leerink Partners, involved selling over 4 million shares at $16.25 each and more than 5.2 million pre-funded warrants—both at a premium to the prior closing price. Notable investors like Frazier Life Sciences, Deep Track Capital, Janus Henderson, and Venrock participated, signaling high confidence in Maze’s clinical pipeline targeting APOL1-mediated kidney disease and phenylketonuria. The funds will support development of leading candidates (MZE829 and MZE782), fuel Phase 2 trial initiations, and further enhance the company’s Compass research platform.]
Maze’s stock (NASDAQ: MAZE) reacted strongly, surging nearly 55% intraday and closing at $24.72, its highest on record. This jump was amplified by positive early-stage safety data from MZE782 in healthy volunteers. Analyst sentiment shifted to bullish, with new ‘buy’ ratings and higher price targets reflecting investor enthusiasm for Maze’s expanding clinical strategy and longer operational runway following the capital raise.
Tariffs and Macro Risks
Tariff-driven inflationary pressure persists, with economists highlighting broadening price increases and cost-cutting among CEOs. The IMF warned that U.S. trade policy risks could further elevate household expenses, especially for essentials like food, energy, and clothing.
Yield Curve, Interest Rates, and FOMC
- 10-year Treasury yield: Dipped below 4% early in the session, but recovered to finish at 4.03% as traders balanced inflation concerns with rate cut expectations.
- 2-year Treasury yield: Closed at 3.552%, reflecting growing conviction in a Fed rate cut next week.
- No FOMC action today; futures markets price in a quarter-point cut later this month, with some odds increasing for a larger move as jobless claims surge.
Commodities & Cryptocurrencies Closing Prices
- Gold: Closed at $3,673.50/oz.
- Silver: Ended at $42.025/oz, +.75%. The iShares Silver trust (SLV) rose 1.07% to $37.79 and is up +43.52% YTD.
- Oil (WTI): Finished at $62.28/barrel, -.14% and down 14.81% YTD.
- Bitcoin (BTC): Currently trading at ~$114,544.22, +.52%.
