Overview
U.S. stocks ended higher, overcoming initial declines to set yet another record high for the S&P 500, marking its 28th record close this year. The rise was primarily led by MVIDIA, which announced a hefty investment to support OpenAI's data center developments.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News Story
MVIDIA announced plans to invest up to $10 billion to aid OpenAI in building advanced data centers, propelling its stock up by approximately 4%. Meanwhile, concerns arose from President Trump's announcement on raising H1B visa fees and issues related to Tylenol manufacturers. These announcements led to some volatility, with Tylenol's parent company's stock experiencing a significant drop and subsequent rebound.
Tomorrow's Economic Indicators
| Time | Indicator |
|---|---|
| 20:30 | U.S. Q2 Current Account Balance |
| 20:55 | U.S. Johnson Redbook Retail Sales |
| 20:45 | U.S. September S&P Global Manufacturing PMI |
| 20:25 | U.S. September S&P Global Services PMI |
| 20:45 | U.S. September S&P Global Composite PMI |
| 23:00 | U.S. September Richmond Fed Manufacturing Index |
| 20:00 | Fed Vice Chair Bowler Speech |
| 23:00 | Fed President Bostic Speech |
| 23:35 | Fed Chair Powell Speech |
General Opinion
Investors are keenly focused on the upcoming personal consumption expenditure data, scheduled for release on Friday. A lower-than-expected figure could heighten expectations for further rate cuts in October. Despite recent market gains, some analysts caution against the potential for a correction phase, though others remain optimistic about avoiding excessive volatility if economic indicators remain resilient.
