Market

October 2, U.S. stocks opened higher Friday as investors cheered upbeat labor data and renewed enthusiasm for artificial-intelligence plays. The Dow Jones advanced 0.64% to 51,254.36, the S&P 500 gained 0.80% to 7,727.49, and the tech-heavy Nasdaq Composite jumped 1.15% to 27,179.92, setting a positive early tone despite steady Treasury yields.

Direxion Daily Semiconductors Bull 3x Shares surged 6.73% after Taiwan Semiconductor Manufacturing lifted spending plans, Strategy rallied 5.12% as bitcoin prices strengthened, Marvell Technology climbed 3.53% on upbeat AI demand, Tesla Motors rose 3.11% on record deliveries, and NVIDIA added 1.85% following the launch of its new Blackwell accelerator. On the downside, Seagate Technology PLC plunged 15.29% after cutting its fiscal first-quarter revenue forecast.

T-Rex 2X Long MSTR Daily Target ETF jumped 10.31%, Advanced Micro Devices gained 2.83%, Circle Internet Corp. advanced 3.69%, Intel put on 3.42%, and Broadcom edged 1.56% higher amid a broad chip rally. Bloom Energy Corp climbed 3.58% after securing a major hydrogen project, while Western Digital sank 9.35% on a surprise equity offering and Nike dropped 7.08% following a sales warning.

News

Seagate Technology PLC slashes fiscal Q1 revenue outlook; shares dive. The storage maker blamed softer cloud demand and announced cost cuts, sending the stock down sharply at the open.

Taiwan Semiconductor Manufacturing lifts capital-spending plan by 10%. The foundry giant cited stronger AI chip orders, igniting a rally across the semiconductor complex.

Tesla Motors delivers a record 530,000 vehicles in Q3. Better-than-expected output eases supply-chain concerns and supports management's annual target.

Strategy jumps as bitcoin tops $45,000. The company's large bitcoin holdings magnify gains from the cryptocurrency's latest breakout.

U.S. initial jobless claims decline to an eight-month low. The data reinforce a resilient labor market narrative and bolster risk sentiment at the opening bell.

Fed Chair Jerome Powell tempers near-term rate-cut hopes. Powell said policymakers need 'more evidence' of cooling inflation before adjusting policy, keeping Treasury yields in check.

NVIDIA unveils Blackwell AI accelerator for data-center customers. Analysts say the new chip could extend the company's leadership and support margin expansion.

Western Digital plans $1.5 billion equity raise to reduce leverage. Investors fretted over dilution, knocking the stock lower despite management's balance-sheet rationale.

Nike warns of softer North American demand ahead of the holiday season. The apparel giant trimmed its sales outlook, pressuring shares and raising concerns for retail peers.

Congress approves stopgap funding bill, averting a federal shutdown. The bipartisan measure removes a near-term fiscal overhang and provides government funding for 45 days.