Stock indexes fluctuated today, with the S&P 500 and Nasdaq 100 hitting new highs, while the Dow Jones rose. Chip makers and AI stocks surged, boosting the market despite the ongoing US government shutdown. Expectations for Q3 earnings are high, with a 100% chance of a rate cut at the next FOMC meeting. Overseas markets also showed gains, with European stocks hitting record highs.

The US government shutdown continues to affect market sentiment, delaying key reports like jobless claims and payroll data. The shutdown could lead to widespread employee dismissals, pushing up jobless claims and the unemployment rate. Challenger reports ongoing job cuts, with the most job losses announced since 2020. Corporate earnings expectations remain strong, with many companies expected to beat Q3 estimates.

In Europe, government bond yields were mixed, while economic data showed an unexpected rise in the Eurozone unemployment rate and UK CPI expectations. The ECB is expected to keep interest rates unchanged, with a minimal chance of a rate cut at the next policy meeting. US Stock Movers included gains in chip makers and AI stocks, with Fair Isaac Corp and AngioDynamics leading the pack. Starbucks, Nike, and Charles River Laboratories also saw gains, while Equifax and TransUnion faced losses. Occidental Petroleum agreed to sell its OxyChem unit below expectations.

On the earnings front, AngioDynamics Inc and Golden Matrix Group Inc reported on 10/2/2025. Overall, the market remains active despite the government shutdown, with a focus on earnings, trade news, and upcoming economic data releases.

Read more at Nasdaq: Stocks Turn Mixed as Bond Yields Climb