Stocks ended mixed with new highs for the S&P 500 and Nasdaq, boosted by AI/cloud optimism and softer-than-expected inflation, but the Dow closed in the red. The S&P 500 rose 0.3% to 6,532.04, the Nasdaq gained 0.3% to 21,886.06, while the Dow 30 slipped 0.48% to 45,490.92. The Russell 2000 declined 0.16% to 2,378.01.
Macroeconomic Reports
Markets welcomed a surprisingly benign Producer Price Index (PPI) print, with wholesale prices rising less than expected, seemingly supporting the case for interest rate cuts as soon as next week’s Federal Reserve meeting. Job growth concerns continue after recent major downward revisions showing far fewer jobs added between April 2024 and March 2025 than previously reported—solidifying expectations for monetary easing soon.
Key Stock News and Movements
Apple (AAPL)
Apple’s stock continued to slide, ending at $226.79, down 3.23%, as investors weighed the modest upgrades of the new iPhone 17 and iPhone Air against lofty expectations. Despite a feature-packed product event focused on iterative improvements, soft initial reception and a lack of disruptive innovation are seen as weighing on shares.
Broadcom (AVGO)
Broadcom advanced another 9.77% to $369.57 on surging demand for AI chips, strong Q3 results, and bullish guidance for continued double-digit growth. OpenAI’s multi-billion-dollar chip order and expanding data center contracts have positioned Broadcom as a top AI beneficiary alongside sector peers.
NVIDIA (NVDA)
Nvidia gained 3.85% to close at $177.33 after unveiling its power-efficient Rubin CPX AI chip at Tuesday’s summit, boosting sentiment for ongoing data center dominance. The stock is up 32.05% year-to-date, but analysts are keeping a watchful eye on intensifying competition, particularly from Broadcom. Nvidia also declared its next dividend.
Tesla (TSLA)
Tesla’s U.S. EV market share slid to 38% in August—the lowest since 2017—as competition heats up and the expiring tax credit draws sales forward. Analysts see the stock near a technical crossroad, with legal claims and shifting fundamentals feeding volatility. TSLA shares closed up +.24% at $347.79.
Meta Platforms (META)
Meta shares fell 1.79% to close at $751.98 ahead of next week’s Connect Developer Conference, which is expected to highlight new AI-focused Ray-Ban smart glasses and platform-wide AI software upgrades. Analysts remain bullish on Meta’s AI trajectory, but regulatory scrutiny around data privacy and youth safety lingers.
McDonald’s (MCD)
McDonald’s shares fell 2.11% to close at $305.94 and the company maintained attention with Extra Value Meal price reductions across the U.S., aiming to reclaim cost-sensitive diners. Initial results have been mixed, with significant variation in consumer response and continued competitive pressure from other fast food chains.
Intel (INTC)
No headline news or price movement of note reported for Intel today.
MongoDB (MDB)
No major headlines or material changes reported for MongoDB in today’s session, but shares rose 1.14% to $334.87..
Oracle (ORCL)
Oracle surged over 40% and closed at #$328.33, +35.95 at the close, nearing all-time highs and a $1 trillion market cap, following guidance for an 8-fold increase in cloud infrastructure revenue over the next four years. Massive demand for AI cloud contracts and a record $455 billion backlog propelled shares as investors celebrated Oracle’s transformation into a leading AI/cloud provider.
Palantir Technologies (PLTR)
No notable news was reported for Palantir in today’s market, but shares rose a healthy +2.70% to close at $166.74.
Rio Tinto Group (RIO)
No headline news disclosed for Rio Tinto during today’s trading session.
Mergers, Acquisitions, and IPOs
Klarna’s NYSE debut was met with robust trading, significant investor appetite, and positioned the firm as one of this year’s top fintech stories and IPO performance leaders. The Klarna IPO also stands as the largest of 2025 and marks a powerful rebound for U.S. equity listings, following a drought caused by tariff and macroeconomic uncertainty earlier this year. Strong demand for the shares (25x oversubscribed) signaled renewed investor enthusiasm for fintech and technology sector debuts.
- IPO Debut: Klarna, the leading Swedish buy-now-pay-later (BNPL) fintech, made its long-anticipated U.S. debut on the NYSE under the ticker KLAR on September 10, 2025
- IPO Price and Valuation: Shares priced at $40, above the expected $35-$37 range, valuing the company at $15.1 billion.
- First Day Trading: Shares opened at $52 and surged as high as $57 during the day before closing at $45.82, up 14.6% from the offer price, and the closing valuation topped $19.65 billion.
- Share Sale & Capital Raised: 34.3 million shares were sold, but only 5 million were new shares from the company; the majority were sold by existing investors. The raise totaled about $1.37 billion, with $200 million going to Klarna and the rest to shareholders.
- Company Overview: Founded in 2005, Klarna is best known for its interest-free “pay-in-4” installment plan and has 111 million global users. It has recently repositioned itself to compete as a digital-first retail bank, with revenue up 20% YoY to $823 million last quarter.
Tariffs
No major tariff changes were announced, but global outlook remained cautious as trade negotiations and ongoing tariff threats continued to cast uncertainty—impacting sentiment for global financials and fintech.
Yield Curve, Interest Rates, and FOMC
- 10-year Treasury yield: Eased to 4.053% as rate cut expectations solidified.
- 2-year Treasury yield: Declined to 3.55%, reflecting rising conviction the Fed will act next week.
- No FOMC announcements today. Markets overwhelmingly expect a 25-bps rate cut at the next meeting following weak jobs data and benign inflation.
Commodities & Cryptocurrencies Closing Prices
- Gold: Closed at $3,680.40/oz.
- Silver: Ended at $41.65/oz, +.75%. The iShares Silver trust (SLV) rose .62% to $37.41 and is up +42.08% YTD.
- Oil (WTI): Finished at $63.75/barrel, +1.79% and down 12.83% YTD.
- Bitcoin (BTC): Currently trading at ~$114,055, +2.11%.
