US stocks slipped on Tuesday as investors weighed worries over the government shutdown against hopes for AI. The Dow fell 0.2%, the S&P 500 dropped 0.3%, and the Nasdaq Composite decreased 0.5% after reaching record highs. Gold futures exceeded $4,000 per ounce for the first time ever as investors flock to safe-haven assets.
The S&P and Nasdaq scored their seventh win in a row, fueled by a multibillion-dollar deal between AMD and OpenAI. The deal added fuel to the AI-based fire that has driven stocks to record highs. Strategists are raising targets for the S&P 500, hinging on Big Tech earnings.
The US government shutdown clouds the economic picture for investors as key data releases are delayed. The longer the shutdown lasts, the harder it is to predict interest rates. The delay of the September jobs report and potential postponement of inflation data poses challenges for markets.
President Trump signaled a willingness to negotiate with Democrats, hinting at a potential resolution to the funding bill impasse. Meanwhile, Tesla is expected to launch a potential new Model Y, hinting at a product launch event following cryptic social media posts.
Trilogy Metals stock surged after news of a 10% stake by the Trump administration. Gold continues to rise, surpassing $4,000 per ounce as investors seek safety. Qualcomm announced plans to acquire Arduino to expand in edge computing, while global crypto ETFs saw record inflows of $5.95 billion.
AMD CEO Lisa Su says critics are ‘thinking too small’ after the OpenAI deal. Constellation Brands reports challenging consumer demand, causing stock underperformance. Novo Nordisk cuts jobs at its US plant, and premarket trending tickers include AMD, Clarivate, and Ford.
Tesla confirms plans for a lower-cost Model Y, aiming to boost sales. Trilogy Metals stock skyrockets on US investment. Gold nears $4,000 an ounce amidst market insecurity. Bloomberg reports on the rising price of gold.

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