Equity markets regained their footing as tech led the bounce and bond yields calmed, yet political risk from tariff policy and Fed independence remains firmly in view. Rotations between sectors and a busy September data calendar frame the outlook as summer gives way to an active autumn for U.S. markets. Yes indeed, U.S. equities rebounded from Tuesday’s rout on Wednesday, as tech leadership and generally supportive economic commentary helped offset lingering uncertainty. The S&P 500 rose 0.51% to close at 6,448.26, recovering a portion of its prior decline. The Dow Jones Industrial Average slipped modestly, down 0.05% at 45,271.23, with value-oriented names lagging growth. The Nasdaq Composite surged 1.02% to 21,497.73, powered by high-flying tech stocks and robust buying in large-cap names, including Apple (AAPL) that closed up +3.81% at $238.47 and Alphabet (GOOG) which closed up a whopping 9.01% at $231.10 after a favorable court ruling regarding antitrust regulations. The Russell 2000 edged down 0.1% to 2,349.97 as small caps failed to participate in the day’s broader risk-on rally.
Macroeconomic Reports
Economic data remained mixed, but leaned modestly supportive. The Fed’s Beige Book signaled expanding growth in most regions, with Q2 GDP revised up to 1.4% annualized driven by stronger consumer spending and business investment. Weekly mortgage application data reflected ongoing weakness in housing, with lower rates failing to spur a meaningful pickup. Industrial and services sentiment held steady, and the labor market was characterized as “soft but stable,” reinforcing near-term optimism while cautiousness prevails into year-end.
Federal Reserve, Yield Curve & Interest Rates
No new FOMC announcements were issued. Yields eased after recent volatility, with the 2-year Treasury settling at 3.625% and the 10-year at 4.221%.
Tariff and Trade News
Trade policy again generated headlines: President Trump threatened to unwind U.S. trade agreements if courts reject the legality of his reciprocal tariffs, underscoring broader market anxiety regarding the fate of ongoing negotiations. The possibility of a swift Supreme Court intervention adds further near-term headline risk for exposed sectors, with business leaders warning of potential global supply chain disruptions if agreements are scrapped.
Corporate Headlines & Share Price Movements
NVIDIA (NVDA) closed down .07% at $170.62 not terribly far from its 52-week high of $184.48.
Tesla (TSLA) rose 1.44% to $334.09 as sector rotation took some steam out of automakers despite ongoing EV industry headlines.
Meta Platforms (META) rose .26% to $737.05.
McDonald’s (MCD) rose another .20% to $316.39, again demonstrating resilience amid consumer sector flows and marketing strength.
Intel (INTC fell 0.87% to $24 after the U.S. took a stake in the company recently.
MongoDB (MDB) fell 1.70% to $312.88, giving back some of its post-earnings rally.
Oracle (ORCL) dropped 0.82% to $223.45.
Palantir Technologies (PLTR) fell 1.40% to $154.90, trying to find support after recent volatility in AI-exposed analytics names.
Rio Tinto Group added 95% to $62.95. Morgan Stanley reportedly lifted its PT to $78.44.
Mergers, Acquisitions & Buyouts
No new S&P 500 or notable large-cap deals surfaced today, as August’s completed mega-deals in telecom, pharma, and energy continued to reverberate through sector positioning.dealroom
IPO Activity (NYSE/Nasdaq)
No debut listings were completed on Wednesday, reflecting a typical post-holiday lull. The IPO pipeline remains relatively full, with recent debuts like Picard Medical (PMI, +29% from offer, closing at $5.29, +2.92% today).
Commodities & Cryptocurrencies Closing Prices
- Gold: Closed at $3,619.70/oz. The SPDR Gold Shares ETF (GLD) rose .78% to $328.14.
- Silver: Ended at $41.325/oz. The iShares Silver trust (SLV) rose +.51% to $37.40.
- Oil (WTI): Finished at $63.77/barrel, -2.77%.
- Bitcoin: Currently trading at ~$112,870.
