| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| 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 | 14.85 | -0.87 | -5.53% |
| Gold | 3,703.40 | -14.4 | -0.39% |
| Oil | 63.56 | -0.49 | -0.77% |
OVERVIEW OF THE US MARKET
Wall Street extended its record rally on September 19, 2025, capping a strong week with tech leading amid Fed cut optimism and resilient data, though concerns mount over valuations pricing in peak positives as growth may cool. The S&P 500 rose 0.49% to 6,664.36, the Nasdaq Composite climbed 0.72% to 22,631.48, and the Dow Jones Industrial Average added 0.37% to 46,315.27. Information technology surged 1.19%, communication services 0.52%, and consumer discretionary 0.34%, while energy lagged -1.28%. Actives highlighted Nvidia up 0.24% on high volume, Opendoor Technologies down 3.72%, and Intel slipping 3.24% after Thursday’s 22.77% jump on Nvidia’s $5 billion pact.
The Morningstar US Market Index gained 1.25% weekly, led by tech up 2.42% and communication services 2.38%, with large-caps outperforming small-caps 1.62% to 0.56%. Of 844 covered firms, 47% rose, with standouts like Plug Power up 43.09% and Intellia Therapeutics 36.51%, while laggards included FactSet down 20.09% and Darden Restaurants 13.11%. FedEx fell post-close after flagging a $1 billion tariff hit, echoing trade war drags. The S&P’s 34% five-month surge—adding $15 trillion—marks a rare feat since 1950, but Bloomberg Intelligence warns of middling growth phases yielding just 4% median six-month returns, versus 13% in recessions.
Silvant Capital’s Michael Sansoterra sees Fed easing as stock-positive but flags Big Tech vulnerability to slowdowns, while TCW’s Eli Horton notes spring pricing already baked in pain, requiring deep weakness to dent earnings bets. CFRA’s Sam Stovall highlights historical 5.5% year-end gains post-20 records by late August, though October volatility looms. BlackRock’s Helen Jewell stresses quantifying geopolitics via consumer and currency impacts on profits, amid rising risks like Ukraine, Gaza, and Trump tariffs. Goldman Sachs’ Guillaume Jaisson cautions little pricing for escalation, with US valuations at 23 times earnings—two standard deviations above norms—leaving scant disappointment room. T. Rowe Price’s Tim Murray warns high multiples amplify selloff risks from surprises, political or otherwise, as BofA surveys elevate geopolitical threats.
OVERVIEW OF THE AUSTRALIAN MARKET
Australian shares rebounded modestly on September 19, 2025, snapping a three-day slide as dip-buyers targeted health care and tech amid broader global risk-on flows post-Fed cuts, though weekly losses mounted to 1.03% for the ASX 200 amid energy woes and soft jobs data. The S&P/ASX 200 rose 0.32% to 8,773.5, while the broader All Ordinaries climbed 0.36% to 9,063.5. Health care led with a 0.91% gain, buoyed by Telix Pharmaceuticals surging 6.4% to $14.53 on Citi’s buy rating and prostate treatment upside, alongside Pro Medicus up 4.8% and CSL edging 0.02%—its first win this week amid a 15% five-week sector rout. Information technology advanced 0.85%, with Weebit Nano up 10.7% sans news.
Advancers outnumbered decliners 151 to 123 in the ASX 300, signaling underlying breadth despite big-cap drags like financials up only 0.58% with Commonwealth Bank higher. Energy slipped 0.16%, extending weekly 3.6% losses after Santos’ 11.9% Thursday plunge on the failed Abu Dhabi bid. Top gainers featured Focus Minerals up 22.0% on an ASX price query response, Race Oncology 20.6% with an investor briefing, and Island Pharmaceuticals 19.2% after FDA meeting clearance. Decliners included Echoiq, down 20.0% due to a CPT code update, Stakk, 13.9% following a post-rally pullback, and The Star Entertainment Group, 13.0% amid ongoing woes.
The late bounce failed to avert a third weekly dip, with Capital.com’s Kyle Rodda attributing post-earnings weakness to non-fundamental factors like global flows, noting earnings revealed softer underlying strength. August’s job loss of 5.4 thousand—versus 21.5 thousand expected—held unemployment at 4.2% but amplified RBA easing calls after its recent 25 basis-point trim to 3.60%, per eToro analysts. The AUD/USD fell 0.34% to 0.659, as the greenback reclaimed ground, though gold miners like Evolution up 3.2% and Northern Star 1.2% benefited from bullion near $3,650 an ounce after its $3,707.65 record.