| Price | Change | % Chg | |
|---|---|---|---|
| Dow | 46,018.32 | 260.42 | 0.57% |
| S&P 500 | 6,600.35 | -6.41 | -0.10% |
| Nasdaq | 22,261.33 | -72.63 | -0.33% |
| VIX | 15.72 | -0.64 | -3.91% |
| Gold | 3,698.90 | -18.9 | -0.51% |
| Oil | 64.02 | -0.03 | -0.05% |
OVERVIEW OF THE US MARKET
US stocks closed mixed on September 17, 2025, as the Federal Reserve’s widely expected 25 basis-point rate cut triggered rotation out of tech and into defensives, with volatility underscoring debates over the easing path. The S&P 500 edged down 0.10% to 6,600.35, the Nasdaq Composite slipped 0.33% to 22,261.33, but the Dow Jones Industrial Average bucked the trend, rising 0.57% to 46,018.32. Financials topped sectors at +0.96%, consumer staples +0.90%, and materials +0.36%, while information technology lagged -0.70%. Actives featured Opendoor Technologies surging 14.46% on blockbuster volume, Nvidia down 2.62%, and Snap up 3.23%.
The Fed lowered rates to 4%-4.25% in an 11-1 vote, the first cut since December 2024, with Chair Jerome Powell framing it as insurance against labor market cracks amid sticky inflation. Dot-plot projections penciled in two more quarter-point cuts this year, up from one in June, though six officials see no further moves, highlighting splits over tariff-fueled price pressures. Governor Stephen Miran dissented for a 50 basis-point cut, but Powell rallied the committee, stressing a data-dependent “meeting-by-meeting” approach and no rush to aggressive easing. Updated forecasts showed unemployment rising to 4.5% this year, PCE inflation at 2.6% in 2026, and GDP growth upgraded to 1.8%.
Post-announcement futures climbed 0.4% for the S&P 500 and Nasdaq 100 early Thursday, signaling relief, though Wednesday’s intraday swings saw the S&P dip as much as 0.8% during Powell’s remarks before recovering. Housing starts fell to 1.307 million in August, missing estimates of 1.365 million and pointing to construction headwinds. Strategists at Goldman Sachs noted historical precedent: Fed cuts near S&P highs have delivered 15% average returns a year later, while JPMorgan highlighted the index’s 30% five-month rally often extends. Bank of America surveys showed fund managers net 28% overweight equities, with growth views at a near-year high, though BofA’s Aditya Bhave warned hawkish voices may amplify as rates fall.
OVERVIEW OF THE AUSTRALIAN MARKET
Australian shares retreated sharply on September 17, 2025, erasing the previous session’s gains amid caution ahead of the Federal Reserve’s rate decision overnight. The S&P/ASX 200 fell 0.67% to 8,818.5, while the broader All Ordinaries declined 0.62% to 9,094.9. Decliners outnumbered advancers 184 to 86 in the ASX 300, a reversal from Tuesday’s breadth. Utilities led with a 0.83% rise, followed by energy up 0.52% on coal price strength that boosted Whitehaven Coal 5.2% and Yancoal 2.8%, despite New Hope Corporation tumbling 8.3% on disappointing FY25 results and a Macquarie note flagging weakened earnings.
Lithium names rebounded with benchmark futures on China’s GFEX marking a fifth straight gain, lifting Pilbara Minerals 4.1%, IGO 1.9%, and Liontown Resources 3.5%. Top performers included Sunrise Energy Metals up 15.9% on continued reaction to a US EXIM letter of interest, Silex Systems 13.5% after enrichment testing news, and G50 Corp 12.9% alongside its annual report. Uranium and silver sectors buckled without clear catalysts, with Bannerman Energy down 12.8% and Deep Yellow 7.9% tracking US peers’ pullback, while Sun Silver fell 5.9% and Unico Silver 4.7%. Real estate lagged worst at -1.55%, with GPT Group and Stockland each off over 2.2%, as rate-sensitive plays weighed ahead of the Fed.
The pullback reflected pre-Fed jitters, with traders positioned for a 25 basis-point cut but eyeing Powell’s tone for clues on further easing versus inflation risks from tariffs. Australia’s composite leading index dipped 0.05% in August, signaling modest softening, while Thursday’s employment data is forecast to show 21.5 thousand jobs added and unemployment steady at 4.2%. The AUD/USD slipped 0.23% to 0.667, bucking broader dollar weakness as relative growth and China ties offered some support.