Market Snapshot for Wednesday September 10th, 2025
S&P 500 – 6,532.04 (+0.30%)
Dow Jones – 45,490.92 (-0.48%)
NASDAQ – 21,886.06 (+0.030%)
Market Performance
S&P 500 Marks Second Straight Record Close on Cooling Inflation Data, Oracle Stock Surge
The S&P 500 closed at a record high for the second day in a row on Wednesday as investors cheered fresh signs of easing price pressures and piled into AI-related stocks, led by Oracle. The benchmark index finished up 0.3% at 6,532.04 after briefly touching an intraday record of 6,555.97. The Nasdaq Composite inched up 0.03% to 21,886.06, also setting a fresh intraday high before paring gains. The Dow Jones Industrial Average fell 220.42 points, or 0.48%, to 45,490.92 as Apple shares slipped following a lackluster reception for its latest iPhone launch.
A surprise decline in wholesale prices fueled the early rally. The producer price index dropped 0.1% in August, compared with economist expectations of a 0.3% increase. Core PPI, which excludes food and energy, also fell 0.1%, bolstering hopes that Thursday’s consumer price index will confirm cooling inflation and give the Federal Reserve room to cut rates at next week’s meeting. Traders boosted bets on a half-point cut after the data, with CFRA Research’s Sam Stovall telling CNBC the softer numbers “could certainly light a fire under the market” into year-end.
Oracle was the standout performer after reporting explosive growth in multicloud database revenue — up more than 1,500% in its latest quarter — and forecasting $144 billion in cloud infrastructure sales by 2030. The upbeat outlook, even alongside an earnings miss, spurred gains in other AI names including Nvidia and AMD.
Other corporate movers also grabbed attention. GameStop jumped 4% on stronger-than-expected second-quarter results and surging Nintendo Switch 2 hardware sales. Energy Secretary Chris Wright told CNBC U.S. oil production may temporarily plateau as crude prices slip below break-even levels for many producers, while pledging regulatory relief to lower costs. Meanwhile, Synopsys tumbled 35% after warning of delays in key deals amid heightened U.S.–China trade tensions.
Economic Takeaways –
- Bond yields have fallen, with the 10-year U.S. Treasury yield at 4.06%.
- The Producer Price Index (PPI) rose 2.6% year-over-year in August, well below forecasts of 3.3%. Trade services inflation, down 1.7% month-over-month, played a major role, likely reflecting narrower margins for wholesalers and retailers. Core PPI, excluding volatile food and energy prices, eased to 2.8% year-over-year, below expectations of 3.5%.
- The Bureau of Labor Statisticscut 911,000 jobs in its preliminary revision to employment data for the 12 months ending last March.
- Chances of a 25-basis point rate cut are 90%, with 10% odds of a 50-basis point cut, according to the CME FedWatch Tool, ahead of next week’s Federal Reserve meeting.
- Fed governor Lisa Cook is likely to take part in that Fed rate decision next week, after a judge blocked President Trump from removing her amid allegations of mortgage fraud.
- Weekly U.S. mortgage applications increased 9.2% last week, following a 1.2% decline the previous week, according to the MBA Mortgage Applications Index.
- Looking ahead, the European Central Bank (ECB) is expected to keep rates steady when it announces its decision Thursday morning before U.S. markets open, according to a Reuters survey.
- On the trade front, Trump has urged the EU to join the US in imposing new 100% tariffs on India and China, media reports said.
- Mortgage demand jumps to the highest level in three years, as interest rates drop sharply.
Gold –
- Gold continued its record rally on Tuesday, buoyed by expectations of an imminent September U.S. interest rate cut, while investors looked ahead to inflation data due this week.
- Spot gold was up 0.2% at $3,643.57 per ounce, as of 0212 p.m. ET (18:12 GMT), after hitting a record high of $3,673.95 earlier in the session.
- A new Goldman Sachs Group, Inc. analysis calculates that if investors shifted just 1% of the privately owned U.S. Treasury market to gold, prices could reach nearly $5,000 per troy ounce (toz).
Oil –
- Oil prices rose Wednesday after Polish Prime Minister Donald Tusk said the country’s military had shot down Russian drones that violated its airspace — the first time the NATO member has directly engaged Russian assets since Moscow’s invasion of Ukraine in early 2022.
- Brent crude futures gained 68 cents, or 1.02%, to trade at $67.07 a barrel, while U.S. West Texas Intermediate crude added 66 cents, or 1.05%, to $63.29 a barrel.
Crypto –
- Bitcoin tapped $114,000.
- Institutional interest has been shifting toward Solana in recent weeks as bitcoin and ether lag. SOL rose 3% Wednesday to a seven-month high of $224.69. Its move this week comes after the original Solana-focused accumulator, SOL Strategies, uplisted its shares to the Nasdaq, which began trading Tuesday under the ticker STKE.
Labor Department Watchdog Launches Review of BLS Data Collection Amid Cutbacks and Revisions
The U.S. Department of Labor’s Office of Inspector General announced Wednesday that it has opened a review into the “challenges” facing the Bureau of Labor Statistics (BLS) in collecting economic data.
In a letter sent to congressional leaders, the agency’s internal watchdog said it is scrutinizing BLS procedures after the statistical agency revealed it would scale back data collection for two key inflation measures. Assistant Inspector General for Audit Laura Nicolosi noted that the probe also follows BLS’s “large downward revision” to its estimate of new jobs in the monthly Employment Situation Report, which raised fresh concerns about the reliability of federal labor data.
Top Gainers
Several stocks experienced significant gains. Some of the top gainers included:
Oracle Corp. (ORCL) +35.95%
Travere Therapeutics (TVTX) +26.20%
Sable Offshore Corp. (SOC) +22.58%
CoreWeave, Inc. (CRWV) +16.88%
Bloom Energy Company (BE) +14.47%
Top Losers
The top US stock losers today, based on percentage change included:
QMMM Holdings (QMMM) -47.10%
Synopsys, Inc. (SNPS) -35.84%
NextDecade Corp. (NEXT) -18.62%
Rubrik, Inc. (RBRK) -18.05%
Chewy, Inc. (CHWY) -16.60%
Notables
- Nike (NKE) could gain as footwear and apparel trends gradually improve over the coming months, according to TD Cowen. The firm upgraded the stock to buy from hold and upped its price target to $85 from $62. That updated target implies more than 15% upside from Tuesday’s closing price.
- Oracle (ORCL) shares skyrocketed 39% after the company revealed multicloud database revenue from Amazon, Google, and Microsoft surged 1,529% last quarter. The blowout figure overshadowed weaker-than-expected fiscal first-quarter earnings and revenue, giving investors confidence in Oracle’s long-term growth story.
- Chewy (CHWY) slumped 16% after reporting a steep year-over-year earnings decline. Chewy posted GAAP earnings of 14 cents a share, sharply below last year’s 68 cents, although second-quarter adjusted EBITDA of $183.3 million slightly beat FactSet’s $182.1 million estimate.
- Broadcom (AVGO) gained more than 9% as traders interpreted Oracle’s blockbuster guidance as a sign of strong future demand across the AI and cloud ecosystem, potentially benefiting Broadcom’s own business.
- Joby Aviation (JOBY) shares went higher after Uber announced plans to begin Blade helicopter rides in 2026 under an expanded partnership with Joby, signaling progress in the company’s push toward commercial aerial mobility.
- Klarna made its debut on the New York Stock Exchangeon Wednesday, opening at $52 per share, after the Swedish online lender priced its initial public offering above its expected range.
- Shares of Apple (AAPL) fell about 3% on Wednesday after its latest iPhone release announcement failed to impress investors.
- Bank of America has hiked its price target for Chevron to $185 per share in the wake of its successful acquisition of Hess Corporation, suggesting 20% upside from Tuesday’s closing price of $154.85.
- Coty (COTY) shares dipped almost 4% on Wednesday after the multinational beauty company received a downgraded rating from Berenberg.
- GameStop shares of the meme-favorite retailer jumped more than 10% after the company posted second-quarter earnings of 25 cents per share, excluding items, on revenue of $972.2 million. GameStop also disclosed that its bitcoin holdings were valued at $528.6 million at the end of the quarter.
- Novo Nordisk shares of the Danish pharmaceutical powerhouse ticked up 1% after it announced plans to cut about 9,000 jobs, or roughly 11.5% of its global workforce. The maker of the blockbuster weight-loss drug Wegovy said the restructuring aims to streamline operations and channel more resources toward its fast-growing weight-loss and obesity businesses.
What to Watch Ahead
September 11: ECB rate decision, August CPI and core CPI, and earnings from Kroger (KR) and Adobe (ADBE).
September 12: September preliminary University of Michigan Consumer Sentiment.
September 15: No major data or earnings.
September 16: August retail sales.
September 17: August housing starts and building permits, FOMC rate decision, and expected earnings from General Mills (GIS) and Bullish (BLSH).
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