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- Dow Posts Modest Gain Despite Shutdown Concerns:<\/strong> The Dow Jones Industrial Average added 43.21 points, or 0.09%, to close at 46,441.10. The index held on to gains even as investors monitored the risks from the first federal government shutdown since 2018.\u00a0<\/li>\n\n\n\n
- S&P 500 Breaks 6,700 Barrier for First Time:<\/strong> The S&P 500 rose 0.34% to settle at 6,711.20, marking a record close and its first finish above the 6,700 level. Momentum remains positive following a 3.5% rise in September.<\/li>\n\n\n\n
- Nasdaq Extends Gains Led by Healthcare and Tech:<\/strong> The Nasdaq Composite climbed 0.42% to end at 22,755.16, supported by strength in pharmaceuticals and chipmakers. Investors appeared unconcerned about shutdown risks.<\/li>\n\n\n\n
- Europe Markets Advance on Pharma Strength and Fresh Data:<\/strong> European equities closed higher on Wednesday as investors looked past US political gridlock and focused on corporate news and sector momentum. The Stoxx 600 added 1.2%, with major bourses all in positive territory. London\u2019s FTSE 100 rose 96 points or 1.03% to 9,446.43, Paris\u2019s CAC 40 gained 71 points or 0.90%, Milan\u2019s FTSE MIB added 354 points or 0.83%, and Frankfurt\u2019s DAX climbed 233 points or 0.98%. Pharma led the advance as AstraZeneca surged 11.2% on listing speculation, Roche rose 8.6% and Novo Nordisk gained 6.4%, while Merck rallied over 10% after announcing a CEO succession. Spain\u2019s IBEX 35 reached 15,566, its highest since 2007, up 4.37% in four weeks and 34.8% over 12 months, while Portugal\u2019s PSI hit a 14-year high at 8,041, gaining 4.71% in the past month and 20.09% year on year. On the data front, eurozone inflation rose to 2.2% in September from 2.0%, with core inflation steady at 2.3%, reinforcing expectations the ECB will hold rates. Manufacturing weakened, with the eurozone PMI back in contraction at 49.8, while Germany held at 49.5, Spain slowed to 51.5, France fell to 48.2 and the UK dropped to 46.2, its lowest since April. Switzerland reported retail sales down 0.2% year on year in August, as food and beverage sales declined but non-food gained modestly.<\/li>\n\n\n\n
- Asia Markets Mixed as Japan Slips, India and Korea Gain:<\/strong> Asia-Pacific equities delivered a mixed performance as investors weighed Wall Street\u2019s gains against the implications of the US shutdown. Japan\u2019s Nikkei 225 fell 0.85% to 44,550.85, marking a fourth straight daily loss, while the broader Topix slipped 1.37% to 3,094.74 despite a positive Tankan survey showing large manufacturers\u2019 sentiment at +14. India advanced, with the Nifty 50 up 0.92% and the Sensex 0.83% after the Reserve Bank of India kept rates steady at 5.5%. South Korea\u2019s Kospi rose 0.91% and Kosdaq 0.4% as chip exports jumped at their fastest pace in 14 months. Taiwan\u2019s TAIEX added 0.63% to 25,982.91 as TSMC gained 1.53% following Nvidia\u2019s market cap topping $4.5 trillion. Australia\u2019s ASX 200 slipped slightly to 8,845.7, while mainland China and Hong Kong were shut for a holiday.<\/li>\n\n\n\n
- Oil Extends Losses on OPEC+ Supply Risks:<\/strong> Brent crude fell 1.03% to $65.35 per barrel, while WTI dropped 0.95% to $61.78. Prices declined for a third straight day as expectations for higher OPEC+ production in November weighed on sentiment. Traders anticipate a potential 500,000 bpd hike, though OPEC disputed media reports of such an increase.\u00a0<\/li>\n\n\n\n
- Yields Fall as Jobs Data Disappoints:<\/strong> The 10-year US Treasury yield slipped more than 4 basis points to 4.106%, while the 30-year yield edged down to 4.713%. The move followed ADP data showing private payrolls fell 32,000 in September, the biggest drop since March 2023. With the shutdown delaying official jobs data, investors expect the Fed to proceed with an October rate cut, followed by another in December.<\/li>\n\n\n\n
- US Manufacturing Stays in Contraction as Private Payrolls Fall:<\/strong> ADP reported a 32,000 decline in private payrolls for September versus expectations for a 45,000 increase, with August revised to a 3,000 loss, the biggest drop since March 2023. ISM manufacturing PMI increased to 49.1 from 48.7 but remained below 50 for a seventh month, while new orders fell to 48.9 and employment stayed weak. Supplier delivery times lengthened, lifting the index to 52.6, but backlogs and exports remained subdued.\u00a0<\/li>\n<\/ul>\n\n\n\n
FX Today:<\/strong><\/p>\n\n\n\n
![\"\"](\"https:\/\/www.infinox.com\/global\/wp-content\/uploads\/sites\/5\/2025\/10\/Currency-Strenght-2Oct25-1.png\")
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- EUR\/USD Consolidates Within Narrow Range Above 1.1700:<\/strong> EUR\/USD closed at 1.1730, down 0.03%, after trading between 1.1716 and 1.1779, settling into a narrow range with little follow-through. The 50-day moving average at 1.1679 provides immediate support, while the 100-day at 1.1607 and the 200-day at 1.1178 are steadily advancing, keeping the long-term picture positive. Price has consolidated through September with repeated defences of 1.1700, showing resilience even as momentum has struggled to extend beyond the 1.1800 area. Resistance remains layered at 1.1785 and 1.1850, while supports sit at 1.1700 and 1.1650.\u00a0<\/li>\n\n\n\n
- GBP\/USD Recovers After Testing Support Near 1.3440:<\/strong> GBP\/USD closed at 1.3481, up 0.27%, after trading between 1.3434 and 1.3527, regaining ground following recent weakness. The candle was constructive, finishing in the upper half of the range to show improving momentum. The 50-day moving average at 1.3464 provided a cushion, while the 100-day at 1.3494 and the 200-day at 1.3142 frame the broader structure. Price remains locked in a wide sideways channel since July, with swings between 1.3400 and 1.3700 signalling indecision. Support is defined at 1.3440 and 1.3400, while resistance sits at 1.3530 and then 1.3600.\u00a0<\/li>\n\n\n\n
- USD\/JPY Extends Losses as Sellers Break Key Support:<\/strong> USD\/JPY closed at 147.11, down 0.47%, after trading between 146.59 and 148.22, falling sharply as sellers gained traction. The candle was decisively bearish, closing near the session low while breaking below the 50-day moving average at 147.78. The 100-day average at 146.46 and the 200-day at 148.32 now form a critical reference band for direction. Recent failures above 149.50 have shown waning upside momentum, and the latest slide tilts bias more negative. Immediate focus is on support at 146.50, with a break opening the way towards 145.50, while resistance lies at 147.80.\u00a0<\/li>\n\n\n\n
- Gold Extends Rally to Fresh Record High:<\/strong> Gold closed at $3,866, up 0.21%, after trading between $3,854 and $3,895, marking another record close. The candle was firm, finishing near the top of the range to confirm persistent bullish momentum. The 50-day moving average at $3,502 continues to climb sharply, while the 100-day at $3,414 and the 200-day at $3,176 are also rising, reinforcing the strength of the trend. Gold has accelerated higher since August with successive all-time highs, leaving no resistance above current levels. Support is now established at $3,800 and then $3,760.<\/li>\n\n\n\n
- Silver Pushes Higher as Bulls Target $48.00 Level:<\/strong> Silver closed at $47.28, up 1.31%, after trading between $46.59 and $47.82, extending its strong rally into multi-year highs. The candle finished near the upper end of the range, showing sustained demand. The 50-day moving average at $40.28 is rising sharply, with the 100-day at $37.90 and the 200-day at $34.82 well below price, underlining the strength of the uptrend. Silver has advanced consistently since May with higher lows and accelerating upside momentum, while the breakout beyond $45.00 has turned that level into key support. With momentum firmly bullish, immediate resistance is seen at $48.00 and then the psychological $50.00 mark, a milestone level for the market.\u00a0<\/li>\n<\/ul>\n\n\n\n
Market Movers:<\/strong><\/p>\n\n\n\n
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- Pharmaceutical Stocks Rally on Tariff Reprieve:<\/strong> Pharma shares advanced for a second day as Pfizer\u2019s three-year tariff reprieve lifted sector sentiment. AstraZeneca gained over 9% to top Nasdaq 100 leaders, Eli Lilly rose more than 8%, and Merck added 7% to lead Dow components. Regeneron, Pfizer and Moderna closed up more than 6%, while Biogen, Amgen and Bristol-Myers Squibb each climbed over 5%.<\/li>\n\n\n\n
- Tesla Rises After Lease Rate Hike:<\/strong> Tesla advanced 3.31% after reports it increased vehicle lease rates following the expiration of a $7,500 federal tax credit.\u00a0<\/li>\n\n\n\n
- Chipmakers and AI Infrastructure Stocks Strengthen:<\/strong> Technology hardware stocks supported the market, led by Super Micro Computer, which rose over 9%, and Micron, up more than 8%. Intel gained 7% while Applied Materials, Lam Research and ARM Holdings added over 6%.\u00a0<\/li>\n\n\n\n
- Crypto-Linked Stocks Gain with Bitcoin:<\/strong> Cryptocurrency-exposed equities rose as Bitcoin climbed more than 2% to a 1.5-week high. Coinbase, Galaxy Digital, Marathon Holdings and MicroStrategy each added more than 2%.<\/li>\n\n\n\n
- Energy and Materials Names Post Sharp Moves:<\/strong> Lithium Americas surged 23% after the US government agreed to acquire a stake, lifting the battery materials segment. AES Corp jumped 16% on reports BlackRock\u2019s Global Infrastructure.<\/li>\n<\/ul>\n\n\n\n
Markets entered October with momentum intact, with Wall Street setting fresh records even as political gridlock in Washington triggered a federal shutdown. The resilience of equities, supported by gains in healthcare, technology and commodities, suggests investors remain confident in the outlook despite weaker jobs data and the disruption to economic releases. With earnings season approaching and the Federal Reserve meeting later this month, the focus will turn to whether October can extend the strong run that capped the third quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
US equities finished higher on Wednesday, with the S&P 500 breaking above 6,700 for the first time despite the onset of a federal government shutdown. Investors were largely optimistic that the closure would be short-lived, allowing markets to focus on corporate momentum and sector strength. Gains in healthcare and technology helped lift sentiment, even asContinue Reading<\/a><\/p>\n","protected":false},"author":28,"featured_media":27619,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[110,1,112],"tags":[140,138,136],"class_list":["post-27617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-espresso-morning-call","category-ix-intel","category-market-news","tag-international-news","tag-market-updates","tag-whats-new"],"acf":[],"aioseo_notices":[],"lang":"en","translations":{"en":27617,"vi":27621,"zh_cn":27623,"pt":27628,"th":27633,"ko":27635,"zh_tw":27650,"es":27655,"jp":27657},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/27617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/comments?post=27617"}],"version-history":[{"count":0,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/27617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media\/27619"}],"wp:attachment":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media?parent=27617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/categories?post=27617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/tags?post=27617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- Tesla Rises After Lease Rate Hike:<\/strong> Tesla advanced 3.31% after reports it increased vehicle lease rates following the expiration of a $7,500 federal tax credit.\u00a0<\/li>\n\n\n\n
- GBP\/USD Recovers After Testing Support Near 1.3440:<\/strong> GBP\/USD closed at 1.3481, up 0.27%, after trading between 1.3434 and 1.3527, regaining ground following recent weakness. The candle was constructive, finishing in the upper half of the range to show improving momentum. The 50-day moving average at 1.3464 provided a cushion, while the 100-day at 1.3494 and the 200-day at 1.3142 frame the broader structure. Price remains locked in a wide sideways channel since July, with swings between 1.3400 and 1.3700 signalling indecision. Support is defined at 1.3440 and 1.3400, while resistance sits at 1.3530 and then 1.3600.\u00a0<\/li>\n\n\n\n
- S&P 500 Breaks 6,700 Barrier for First Time:<\/strong> The S&P 500 rose 0.34% to settle at 6,711.20, marking a record close and its first finish above the 6,700 level. Momentum remains positive following a 3.5% rise in September.<\/li>\n\n\n\n