| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 46,121.28 | -171.5 | -0.37% |
| S&P 500 | 6,637.97 | -18.95 | -0.28% |
| Nasdaq | 22,497.86 | -75.62 | -0.33% |
| VIX | 16.45 | 0.27 | 1.67% |
| Gold | 3,783.90 | 15.8 | 0.42% |
| Oil | 64.56 | -0.43 | -0.66% |
OVERVIEW OF THE US MARKET
Wall Street ended lower on Thursday, September 25, 2025, as valuation concerns outweighed signs of economic strength. The S&P 500 fell 0.5%, logging its third consecutive decline and marking the longest losing streak in a month. The Nasdaq Composite dropped 0.5% and the Dow Jones Industrial Average shed 174 points.
Traders looked past upbeat GDP revisions and a further drop in weekly jobless claims, focusing instead on elevated price-to-earnings multiples and looming inflation data. The S&P 500’s forward P/E reached 22.9, a level last seen during the dot-com era and the pandemic stimulus boom. Short-dated Treasury yields pushed higher as rate cut expectations moderated slightly ahead of Friday’s PCE release.
Technology remained a stabilizer, with Intel surging almost 9% after an analyst upgrade, while Tesla and Freeport-McMoRan were among the other notable movers. The most actively traded names also included Opendoor Technologies (+10.5%) and Lithium Americas (+22.6%), though speculative momentum faded in Transocean, which tumbled more than 13%. Sector performance was broadly negative, with health care (-1.7%) and consumer discretionary (-1.5%) leading declines, while energy stocks (+0.9%) bucked the trend on stronger crude.
Sentiment was also pressured by renewed volatility in cryptocurrencies, with Bitcoin sinking 3.7% to $109,392 and Ether down over 6%. Market strategists cautioned that October has historically been one of the most volatile months for equities, heightening risks as earnings season approaches.
OVERVIEW OF THE AUSTRALIAN MARKET
Australian shares closed marginally higher after a choppy session, with the S&P/ASX 200 adding 8.5 points to finish at 8,773. Gains in heavyweight miners offset weakness across much of the broader market. Market breadth remained weak, with decliners outpacing advancers, highlighting underlying fragility despite the index-level rise.
Mining stocks carried the day after copper surged more than 3% in US trade and extended gains in Asia. Rio Tinto and BHP jumped over 3.5% each, while energy majors Woodside and Santos rose more than 2% on stronger crude prices. Banks were mixed, with Westpac up nearly 1% while CBA slipped 0.5%. Gold miners retreated as the metal consolidated near record highs, dragging Northern Star and smaller producers lower.
At the small-cap end, speculative momentum was evident in copper and biotech names, with Sandfire (+7.6%), Capstone (+10.8%), and 4DMedical (+14%) among notable gainers. Meanwhile, Invictus Energy slumped 27% in a trading halt and several junior gold explorers suffered double-digit losses as hot money rotated out of the sector.