ADP positions, commonly known as “small non-agricultural”, fell by 32,000 in September, the largest decline in two and a half years, far inferior to expectations, which further increased the possibility of the Federal Reserve’s interest rate cuts, but the U.S. government shutdown curbed the rise, and U.S. stocks closed slightly red on Wednesday (1st).
The Dow Jones rose 43.21 points to close at 46,441.10 points, marking the ninth closing high of 2025, with the S&P closing 0.34% and closing at 6,711.20 points, setting the 29th record for the top break this year. Nasdaq rose by more than 0.4%.
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Since the Republican-led government appropriation bill failed to pass the Senate, the US government closed at 12:01 a.m. on the 1st, which was the second time that it was shut down again after nearly seven years. It is expected that aviation control, disaster relief and other services will be affected, and thousands of federal employees are facing the fate of taking leave. Vice President Vans said that if this continues, he would have to lay off employees.
The Senate budget negotiations are currently pausing in Yom Kippur, and senators are expected to wait until Friday to vote again, with a spending deadlock that will last at least three days.
According to two major forecast platforms, Kalshi and Polymarket, the U.S. government shutdown may last for about 11 days, and the suspension of work may not be resolved until mid-October.
Fitch Ratings, an international credit rating agency, pointed out that even if the federal government shuts down, it will not affect the “AA+” rating of the US sovereign credit rating.
U.S. stocks on Wednesday (1st) main index performance:
- The Dow Jones Index rose 43.21 points, or 0.09%, to close 46,441.1 points.
- The Nasdaq index rose 95.148 points, or 0.42%, to close 22,755.157 points.
- The S&P 500 index rose 22.74 points, or 0.34%, to close 6,711.2 points.
- The Philadelphia Semiconductor Index rose 130.46 points, or 2.05%, to close 6,500.28 points.
- The NYSE FANG+ index rose 1.72 points, or 0.011%, to close 16,159.76 points.
Focus stocks
The five major tech giants in the NYSE FANG + index generally closed higher. Meta (META-US) fell 2.32%; Apple (AAPL-US) rose 0.32%; Alphabet (GOOGL-US) rose 0.74%; Microsoft (MSFT-US) rose 0.34%; and Amazon (AMZN-US) rose 0.48%.
Feichen’s stocks are as powerful as rainbows. Broadcom (AVGO-US) rose 1.05%; NVDA-US rose 0.35%; Applied Materials (AMAT-US) soared 6.35%; Qualcomm (QCOM-US) rose 0.08%; AMD (AMD-US) rose 1.37%; Micron (MU-US) soared 8.86%.
Taiwan Stock Exchange ADR closed red after overweight. TSMC ADR (TSM-US) rose 3.29%; Sun and Moonlight ADR (ASX-US) rebounded 0.36%; UMC ADR (UMC-US) fell 2.24%; China Telecom ADR (CHT-US) rose 0.60%.
Corporate News
Nike (NKE-US) soared 6.41% to $74.20 per share, and the company’s first-quarter performance was better than expected, showing that its transformation plan is still making progress under weak Chinese markets and tariff pressures.
Netflix (NFLX-US) fell 2.34% to $1,170.90 per share as Tesla CEO Musk called on followers to unsubscribe. Musk responded to a post accusing Netflix of promoting transgender issues on social platform X, saying, “Cancel Netflix for the sake of the health of your children.”
Eli Lilly (LLY-US) and Amgen (AMGN-US) rose sharply more than 5% on Wednesday, rising for the second consecutive trading day as Wall Street welcomed the drug price agreement reached by Pfizer (PFE-US) and the United States.
Intel (INTC-US) soared 7.12% to $35.94 per share. AMD (AMD-US) rose 1.37% to $164.01 per share.
According to Semafor, Intel is in preliminary negotiations to include AMD in its foundry customers. Global Equities Research analyst Trip Chowdhry believes the two companies may reach an agreement because Intel’s 18A process is attractive with back-powered technology.
Economic data
- The number of new jobs in the United States in September was reported – 32,000, with an expected 51,000 people, and the previous value was – 3,000 people.
- The final value of US manufacturing PMI in September is 52, expected 52, and the previous value is 53
- The US ISM Manufacturing Index in September was 49.1, with an expected 49, with a previous value of 48.7
Wall Street Analysis
Stuart Kaiser, head of Citi’s US stock trading strategy, believes that the short-term government shutdown has little impact on the stock market, but if the situation extends and leads to large-scale layoffs, or the bond market is turbulent, it may further impact the market.
Although U.S. stocks have still seen an average increase during the past five government shutdowns, the situation is more complicated this time, as investors are already worried about the cooling of the job market, and if it is accompanied by larger federal layoffs, market doubts will be deepened.
Peter Corey, co-founder and market strategist at Pave Finance, reminds that investors may fall into misjudgment if they simply judge the trend based on historical experience. He stressed that the market may underestimate the risks of economic weakness and extended shutdowns, which will lead to false complacency.
All numbers are updated before the deadline, please follow the actual quotation
