The S&P 500 and Nasdaq hit record closing levels today, with the S&P 500 finishing at 6,753 and the Nasdaq at 23,043. The Fed is expected to make two more 25 bps cuts by the end of 2025. Gold is at a record high of $4038.99 per troy ounce as investors hedge against the equities market.

The September Fed minutes reveal plans for two more rate cuts in 2025. The focus is shifting to the labor market, with jobs data unavailable due to the ongoing shutdown. The Fed is expected to make decisions without key data points if the shutdown continues.

Delta Air Lines will kick off Q3 earnings season tomorrow, with PepsiCo and Levi Strauss also reporting. Expect modest growth from Delta, while Levi’s may show signs of tariff vulnerability. Little-known AI firms may offer lucrative opportunities in the coming months.

Investors can expect a volatile market tomorrow without key data points due to the shutdown. Delta Air Lines, PepsiCo, and Levi Strauss are set to report earnings, offering insights into the current market conditions. The AI revolution may present new opportunities beyond well-known stocks.

Read more at Nasdaq: S&P 500, Nasdaq Close at Fresh Highs on FOMC Minutes