Stock Market

As of Sep 25, the U.S. major indexes closed as follows: Dow Jones down 0.31% at 51,349.98; S&P 500 down 0.02% at 7,704.13; NASDAQ up 0.01% at 26,939.37. The tape was mixed, with the Dow and S&P 500 marginally lower while the NASDAQ barely held in positive territory. Elevated rates and uneven positioning continued to pressure the broader market, keeping index moves restrained.

Among unusual-move stocks, several names posted outsized gains while some high-profile tech and AI-related names softened. Meta Platforms, Inc. up 4.50% at $777.59 led the larger-cap group, while Intel up 3.91% at $127.39, NEBIUS up 7.44% at $243.48, CoreWeave, Inc. up 3.72% at $90.13, and Rocket Lab USA, Inc. up 4.69% at $73.61 also stood out.

On the downside, ARM Holdings fell 7.88% at $306.34, Oracle fell 3.47% at $139.54, Bloom Energy Corp fell 3.10% at $266.65.

several Chinese ADRs also moved sharply, including Burning Rock Biotech Limited up 19.40% at $18.00, EZGO Technologies up 28.98% at $1.09, Uxin up 19.27% at $1.30, and Freight Technologies, Inc. fell 18.37% at $0.40.

Within the broader list of movers, biotechnology, internet, and small-cap names were especially active. Burning Rock Biotech Limited, EZGO Technologies, Uxin, Infobird Co., Ltd up 14.66% at $1.13, and Zhihu up 7.14% at $3.75 were among the strongest performers. Losses were more pronounced in names such as Freight Technologies, Inc., MMTec, Inc. down 13.87% at $5.96, Yatsen Holding Limited down 10.14% at $2.48, China Yuchai down 9.83% at $31.20, and WiMi Hologram Cloud down 8.36% at $0.81. The dispersion suggests stock-specific catalysts mattered more than the overall market backdrop.

Other Markets

U.S. 10-year Treasury yield fell by 0.00%, latest at 5.16.

USD/CNH rose 0.0118%, at 6.75; USD/HKD rose 0.0011%, at 7.84.

U.S. Dollar Index fell 0.0099%, at 101.25.

WTI crude futures fell 0.31%, at 94.32 USD/bbl; COMEX gold futures rose 0.25%, at 4308.70 USD/oz.

Top News

1. Meta unveiled new AI hardware and a “Muse” device to extend its assistant beyond smartphones. The company introduced smart glasses, camera-free audio glasses, and a pocket-watch-sized gadget called Muse Charm. The move is aimed at turning its AI assistant into a broader consumer platform and deepening its hardware strategy.

2. Oracle sent a force majeure notice tied to its New Mexico data center project. The company is seeking to protect itself from costs if the site is delayed. The notice adds a fresh legal and operational complication to a large infrastructure build that has already faced opposition and regulatory hurdles.

3. BlackBerry raised its full-year revenue forecast after QNX posted record quarterly sales. The software division benefited from automotive growth and new design wins. Management said the outlook reflects expanding deployment in vehicles, which could support future revenue visibility.

4. JPMorgan upgraded CoreWeave after citing a stronger pricing backdrop. The firm said compute demand and the company’s willingness to pursue short-term contracts at premium pricing support its view. The call reinforces investor attention on AI infrastructure monetization.

5. Bernstein upgraded Quanta Services after saying the stock had de-rated. The firm argued the company is capturing more scope at higher margins. It also pointed to strong free cash flow that can fund acquisitions and broaden execution capacity.

6. Wells Fargo initiated Old National Bancorp with an overweight rating. The bank said the market has not yet fully recognized the post-acquisition re-rating potential from the Bremer deal. It sees profitability, capital return, and organic growth as reasons for a higher multiple.

7. Roth initiated NeOnc Technologies with a buy rating. The firm said the life sciences company is approaching an inflection point. The initiation signals confidence in the company’s development path and prospective upside.

8. JPMorgan reiterated Meta as overweight and raised its price target. The firm lifted the target after the company’s annual event. The revised view indicates greater confidence in Meta’s product pipeline and monetization potential.

9. Google, OpenAI, and Anthropic were reported to be forming an AI safety organization. The initiative would bring major AI developers into a coordinated effort around safety issues. If completed, it could influence governance standards across the sector.

10. Black Sea drone and missile attacks disrupted grain exports and threatened food supplies. The attacks have throttled wheat and corn shipments from the region. The resulting strain could intensify food inflation and force importers to seek alternative suppliers.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.