Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
German Industry Employment Falls to Lowest Level in a Decade 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Wall Street’s three major indexes closed at record highs on Thursday, driven largely by strength in the technology sector, even as investors weighed weak labor market signals during the ongoing U.S. government shutdown.
The Dow Jones Industrial Average added 78.62 points, or 0.17%, closing at 46,519.72. The S&P 500 edged up 4.15 points, or 0.06%, to 6,715.35, while the Nasdaq Composite advanced 88.89 points, or 0.39%, to 22,844.05. The Nasdaq was the day’s top gainer, supported by heavyweight technology stocks including Nvidia, Apple, and Broadcom. Both the Dow and the S&P 500 notched consecutive record closes, while the Nasdaq narrowly missed one after hitting an intraday high.
Investor focus turned to private labor market reports, as official government data remained unavailable due to the shutdown. Challenger, Gray & Christmas reported fewer layoffs in September, but noted that 2024 hiring plans are the weakest since 2009. This followed a softer-than-expected ADP employment report a day earlier, intensifying speculation about the Federal Reserve’s next moves. Markets are now widely pricing in two additional rate cuts this year, including one expected in late October.
Sector performance highlighted the tech industry’s 0.5% gain, with semiconductor stocks jumping 1.9% to reach a record closing high. Materials advanced 1%, while energy lagged, dropping 1%. Consumer discretionary was the biggest drag, as Tesla shares tumbled 5%, their steepest fall since July, despite strong quarterly deliveries. Analysts cited risks from the expiration of the $7,500 federal EV tax credit.
Other notable moves included sharp declines in Equifax (–8.5%) and TransUnion (–10.6%) after FICO launched a new credit score program that bypasses the bureaus, boosting its own shares nearly 18%. Occidental Petroleum fell 7.3% after announcing a $9.7 billion sale of its petrochemical unit to Berkshire Hathaway.
Despite shutdown worries, market breadth was positive, with advancing stocks outpacing decliners on both the NYSE and Nasdaq. Trading volume remained in line with the 20-day average, signaling steady investor confidence even in a cautious environment.
