Stock indexes are mostly higher today, with the Nasdaq 100 hitting a new all-time high. Advanced Micro Devices surged over 28% after a lucrative deal with OpenAI, boosting the AI sector. Hopes for AI growth and additional Fed easing are driving a bullish sentiment in the market.

The ongoing US government shutdown is delaying key economic reports, including payroll data. Bloomberg Economics estimates 640,000 furloughed federal workers, potentially raising unemployment to 4.7%. Political uncertainty in France and Japan is driving investors toward gold and Bitcoin as safe-haven assets.

Corporate earnings expectations are positive, with over 22% of S&P 500 companies beating Q3 earnings forecasts. However, Q3 profit growth is at a two-year low of +7.2%, with sales growth slowing to 5.9%. Market odds predict a 95% chance of a -25 bp rate cut at the next FOMC meeting.

Stocks like Advanced Micro Devices, Super Micro Computer, and Palantir Technologies are up, driven by a deal with OpenAI and AI-infrastructure developments. Cryptocurrency stocks are rallying as Bitcoin hits a record high. Critical Metals Corp surged over 70%, fueled by reports of a potential government stake.

Verizon Communications is down over -3% after CEO change news, while AT&T and International Paper also faced downgrades. Micron Technology and Abercrombie & Fitch saw upgrades and downgrades, impacting their stock prices. Nvidia is down over -1% following a major deal announcement from Advanced Micro Devices.

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