U.S. equities ended Wednesday at record or multi-month highs, as investors absorbed the latest government shutdown without significant market disruption. The S&P 500 climbed 0.34% to 6,711.20, while the Dow Jones Industrial Average advanced 0.09% to 46,441.10—marking the Dow’s ninth record close of the year. The tech-heavy Nasdaq rose 0.42% to 22,755.16, and the small-cap Russell 2000 gained 0.24% to close at 2,442.35—all showing continued resilience to macroeconomic headline risk
Macroeconomic Reports
ADP’s September private payrolls report undershot expectations, showing a contraction of 32,000 jobs versus forecasts for a 50,000 increase—a data point adding fuel to bets for a rate cut before year-end. U.S. factory orders fell 1.3% month-over-month, further reflecting manufacturing softness. The ISM manufacturing index indicated below-consensus expansion, underlining muted industrial momentum as the quarter begins. With the government shutdown, several key economic reports are postponed, potentially complicating the Federal Reserve’s near-term policy decisions.
Treasuries, Yield Curve & FOMC
Yields retreated in response to downside economic surprises and rising rate-cut expectations. The 2-year Treasury yield closed at approximately 3.537%, while the 10-year yield settled near 4.102%, both falling as traders raise bets on 2025 Fed easing. FOMC members cited caution amid data gaps from the shutdown, with nearly 99% of market participants projecting a rate cut at this month’s meeting and 87% forecasting another cut by December.
Commodities & Crypto
Gold surged to a record close at $3,892.60oz, reflecting risk aversion and dollar softness. The SPDR Gold Shares ETF (GLD) rose .16% to $356.03. Silver also rose 1.67% to $47.42/oz. WTI crude oil closed lower at $61.80/bbl, pressured by ongoing demand concerns. Bitcoin finished the session approximately. 2.83% higher at $118,445 after intra-day swings tied to regulatory developments and global liquidity flows.
Tariff Developments
No significant new tariff actions were reported today, but persistent tension over international trade policy remains a background risk for supply chains and global growth. Market participants continue to monitor developments that could affect tech and manufacturing.
Notable Corporate News & Results
Apple (AAPL)
Apple shares advanced 0.32% to $255.45, supported by robust demand signals for its latest iPhone launch and continued strength in services. Analysts note elevated gross margin expectations and record emerging market sales momentum.
Broadcom (AVGO)
Broadcom stock closed near $333.39 up 1.05% on the session after early volatility linked to sector-wide chipmaker sentiment. The company continues to benefit from strategic alliances with large cloud and AI players, with substantial earnings and cash flow growth supporting its rich valuation.
NVIDIA (NVDA)
NVIDIA rose .36% to $187.24 and a $4.56T market cap.
Tesla (TSLA)
Tesla rose 3.31% to $459.46. Heavy call option flows highlighted strong bullish sentiment, though analysts expect only a temporary boost from the credit expiry. Lease prices for new vehicles were higher post-credit.
Meta Platforms (META)
META was in focus with the announcement of an AI chip acquisition (Rivos) and strong capital return discipline. Shares fell 2.32% on volatility, despite consensus analyst optimism and ongoing robust ad growth. META is set to report Q3 results on October 29, 2025.
McDonald’s (MCD)
McDonald’s closed at $300.52, down 1.11%, still near the highs of 2025. The fast-food giant continues to deliver steady revenue growth and maintain market share despite rising input costs. Recent analyst price target updates signal continued stability.
Intel (INTC)
Intel moved up a meaty +7.12% to $35.94, as PC demand remains challenged but the company is seeing improved traction in AI/datacenter and automotive chip segments. Consensus forecasts now model upside from next-gen product launches in Q4.
MongoDB (MDB)
MongoDB surged 3.59% to $321.53 today, following several major upgrades and a new Overweight rating and $430 price target from Wells Fargo. AI-native projects and enterprise migration are driving optimism, with analysts sharply raising price targets across the board this month.
Oracle (ORCL)
Oracle shares closed up 2.76% to $289.01, up over 70% YTD after the software giant unveiled a $30 billion OpenAI cloud contract and saw RPO soar 359%. Strong cloud/AI momentum and top-line growth have driven investor enthusiasm, although recent EPS misses present caution.
Opendoor Technologies (OPEN)
Opendoor closed up +1.13% to $8.06 and has rallied over 400% YTD after volatile session trading, with momentum fueled by speculation around possible leadership changes, new AI strategies, and meme stock dynamics. Congressional trading activity in the name added further visibility.
Palantir Technologies (PLTR)
Palantir gained 1.39% to $184.95, reflecting robust quarterly revenue growth and sharply higher volumes on AI/defense contracts. Price action highlights technical strength, with consensus modeling a continued rally into Q4.
Rio Tinto Group (RIO)
Rio Tinto ended at $66.29, +.42%, stable amid steady demand for iron ore and copper. Institutional trading focused on management and dividend announcements, while forward yield remains attractive at 6.37%.
Eli Lilly (LLY)
Eli Lilly (LLY) advanced an above avg. +8.18% to $825.42 after new clinical trial data for diabetes and obesity treatments.
Oklo Inc. (OKLO)
Oklo Inc. drew attention rising +3.85% to $115.93 amid surging interest in nuclear and clean energy trades, benefiting from thematic ETF inflows and government policy tailwinds.
