01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 1.21% at 51,461.90; S&P 500 declined 0.45% at 7,551.81; NASDAQ declined 0.01% at 25,978.42. Investors digested the Federal Reserve’s first policy-rate increase since 2023 amid persistent inflation concerns, leaving the benchmarks mixed for much of the session before finishing broadly lower.
Chipmakers and select tech names dominated the day’s unusual moves. NVIDIA (NVDA) rose 0.82% to $213.90 after upbeat AI-driven demand signals, while Intel (INTC) added 4.03% to $101.05 on optimism around new server chips. Strength also lifted Advanced Micro Devices (AMD) up 1.65% at $512.50. Optical-component maker Lumentum (LITE) surged 9.59% to $919.40, and clean-energy player Bloom Energy (BE) advanced 4.11% to $270.02. On the downside, crypto platform Coinbase Global (COIN) fell 4.42% to $164.51 as risk assets wavered, and stable-coin firm Circle Internet (CRCL) declined 6.78% at $80.45.
Macroeconomic cross-currents kept sentiment cautious. The Fed’s quarter-point hike and projections for at least one more increase this year rekindled worries about tighter financial conditions, overshadowing pockets of strength in semiconductors. Rising Treasury yields and a cautious outlook from major banks weighed on broader sectors, leaving traders focused on forthcoming economic data and corporate guidance for clearer direction.
02 Other Markets
U.S. 10-year Treasury yield rose by 0.00%, latest at 5.00%.
USD/CNH fell 0.03%, at 6.77; USD/HKD fell 0.00%, at 7.84.
U.S. Dollar Index fell 0.02%, at 100.30.
WTI crude futures fell 0.23%, at 97.29 USD/bbl; COMEX gold futures fell 1.92%, at 4,303.10 USD/oz.
03 Top News
1. U.S. House Approves Sweeping Tariff and Sanctions Bill Targeting Russian Energy Trade. The measure grants the president power to impose tariffs of up to 100% on nations buying Russian oil and extends Iran sanctions to 2031. It passed 262–159 and awaits presidential signature, intensifying economic pressure on Moscow.
2. Federal Judge Orders Google to Ease Ad-Tech Practices and Install Antitrust Monitor. The Virginia ruling rejects a breakup but bars Google from tying its ad server to its exchange and requires a six-year compliance program. The decision aims to revive competition in online advertising markets.
3. Federal Reserve Raises Benchmark Rate by 25 bps and Signals One More Hike Possible. Policymakers lifted the federal-funds target to 3.75%–4.00%, citing stubborn inflation. Updated projections show rates peaking higher for longer, with inflation only returning to 2% around 2029.
4. Major U.S. Banks Lift Prime Lending Rate to 7% After Fed Move. JPMorgan, Bank of America, Citigroup and peers announced the increase, immediately affecting variable consumer and business loans. Higher prime rates typically raise borrowing costs but can bolster net interest income.
5. Fed Projections Raise Long-Run Neutral Rate to 3.2%, Highlighting Persistent Price Pressures. The Summary of Economic Projections shows officials expect PCE inflation at 3.7% next year and only gradually easing toward target. The shift underscores a more hawkish policy stance.
6. Boeing Warns 737 MAX Production Is ‘Not Yet Stable,’ Sending Shares Down Over 5%. Executives told investors that wing supply issues are delaying ramp-up to 47 jets per month. The setback renews concerns about free-cash-flow recovery and drags the stock to its lowest level since March.
7. OpenAI and Microsoft Win Partial Victory in Copyright Lawsuit over AI Coding Tools. A U.S. appeals court upheld dismissal of claims that training data from GitHub violated the Digital Millennium Copyright Act. The ruling narrows developers’ case but broader allegations of misuse of open-source code remain.
8. Goldman Sachs Flags Softer FICC Trading Revenues and Rising Expenses, Shares Slide 4%. CEO David Solomon told an investor conference that third-quarter fixed-income performance lags strong equity trading. Analysts caution higher costs could pressure profitability amid a tougher rate environment.
9. U.S. Energy Information Administration Reports 640,000-Barrel Crude Draw, Yet Oil Prices Retreat. Despite tighter inventories, WTI crude fell over 3% from recent four-month highs as a stronger dollar and rate worries spurred profit-taking. Analysts still anticipate supply risks could lift prices again.
10. 10-Year Treasury Yield Briefly Tops 5% for First Time Since 2007 After Fed’s Hawkish Message. The jump reflects expectations of prolonged tight monetary policy and stoked concerns about financing costs. Elevated yields weighed on equities and boosted dollar sentiment.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
