Evening Market Recap

Sophia Reyes · September 18, 2025 6:27 PM

Market Snapshot for Thursday September 18^th, 2025

S&P 500 – 6,631.96 (+0.48%)

Dow Jones – 46,142.42 (+0.27%)

NASDAQ – 22,470.72 (+0.94%)

Market Performance

US stocks climbed to fresh all-time highs on Thursday following a Federal Reserve interest rate cut and signals of additional reductions ahead, with technology shares leading the charge.

The Nasdaq Composite (^IXIC) led the gains, rising roughly 0.9%, fueled in part by Nvidia’s (NVDA) $5 billion investment in Intel (INTC), which lifted investor sentiment. The S&P 500 (^GSPC) added 0.5%, while the Dow Jones Industrial Average (^DJI), which is less tech-heavy, moved up 0.3%.

All three major indexes closed at record levels, with the Russell 2000 (^RUT) small-cap index climbing more than 2% to also reach a new all-time high.

Shares of Intel surged 23% after the announcement of Nvidia’s investment, reflecting optimism that the cash infusion could help the struggling chipmaker compete more effectively in a global market dominated by rivals. Despite initial market hesitation after Wednesday’s 25-basis-point Fed rate cut, investors appear to be embracing the central bank’s guidance, which suggests two more cuts may come by the end of the year. However, Fed Chair Jerome Powell cautioned that high inflation and a softening labor market leave “no risk-free path,” tempering some of the enthusiasm.

Weekly jobless claims released Thursday highlighted persistent labor market stress. While filings for unemployment benefits fell after a spike the previous week, overall hiring showed little improvement, as both the supply of and demand for workers slowed.

Economic Takeaways –

• Treasury yields edged higher, with the 10-year at 4.11% versus 4.03% earlier this week.
• The dollar is firmer against a trade-weighted basket but still down about 10% year to date.
• Initial U.S. unemployment claims dropped to 231,000 last week, unwinding the prior week’s jump to 264,000 that was largely tied to Texas. Continuing claims also slipped to 1.92 million, below the year’s peak of 1.97 million.
• Uncertainty dominated Wednesday’s FOMC meeting. Officials were split on the pace of easing: a slim majority projected three 25-basis-point cuts over the coming months, while a sizable minority anticipated only one or two. Chair Jerome Powell underscored the data-dependent outlook in his press conference. The absence of clear direction may heighten market volatility as investors parse upcoming labor, inflation and growth reports.
• Futures markets currently price an 80%–90% chance of 25-basis-point cuts in both October and December, though stronger job numbers could temper those expectations.
• Mortgage rates are creeping higher after the Federal Reserve cut benchmark interest rates on Wednesday, a counterintuitive but common phenomenon. The average 30-year fixed mortgage rate rose 15 basis points on Thursday to 6.37%, according to Mortgage News Daily, following a 9 basis-point rise on Wednesday after the Fed’s move.
• A new Bank of America report estimates that nuclear energy could represent a $10 trillion market opportunity and potentially provide “the solution to the world’s power shortages.” Shares in [providers] NuScale (SMR) and Oklo (OKLO) are up more than 100% and more than 350% since the beginning of the year, respectively.

Gold –

• Gold slipped as the dollar pushed higher, with the Federal Reserve signaling guarded optimism regarding further US rate cuts.
• Bullion fell by as much as 0.9% as the dollar rose the most since September. A stronger greenback is negative for gold as it’s priced in the US currency.

Oil –

• Oil prices eased on Thursday, settling lower as traders remained worried about the U.S. economic outlook a day after the U.S. Federal Reserve cut interest rates for the first time this year.
• Brent crude futures fell 51 cents, or 0.8%, to settle at $67.44. U.S. West Texas Intermediate (WTI) crude fell 48 cents, or 0.8%, to settle at $63.57.

Crypto –

• Bitcoin (BTC-USD) climbed above $117,000 on Thursday, buoyed by a broader market rally following the Federal Reserve’s interest rate cut and the introduction of a streamlined process for approving crypto ETFs. The world’s largest cryptocurrency gained 1.5% after consolidating around the $115,000 level.
• Ethereum’s native token, ether (ETH-USD), also benefited from the market boost, rising more than 2% to exceed $4,600 per token.
• On Wednesday, the Securities and Exchange Commissionstreamlined the approval process for crypto ETFs. Compass Point analysts note the move opens the “floodgates for altcoin ETFs”.

Trump Suggests Networks Should Lose Licenses if Too Critical of Him

President Donald Trump said Thursday that U.S. broadcast networks should face scrutiny over their licenses if they are overly critical of him, marking his most expansive challenge to media freedoms to date.

“When you have a network and you have evening shows, and all they do is hit Trump,” he told reporters aboard Air Force One, “I would think maybe their license should be taken away.”

Trump’s remarks came as he defended ABC’s decision to suspend Jimmy Kimmel’s late-night show indefinitely following the host’s controversial comments about the death of conservative activist Charlie Kirk. He framed Kimmel’s removal as a matter of ratings and talent, saying, “Jimmy Kimmel was fired because he had bad ratings more than anything else, and he said a horrible thing about a great gentleman known as Charlie Kirk… You can call that free speech or not. He was fired for lack of talent.”

The comments follow Trump’s $15 billion lawsuit against the New York Times and reflect his longstanding complaints that mainstream media outlets are biased against conservatives. He has repeatedly urged networks like CBS, ABC, and NBC to remove late-night hosts who frequently criticize his administration.

On Wednesday, Walt Disney Co.’s ABC network announced it was taking Kimmel’s show off the air indefinitely, responding to backlash from conservatives. By Thursday, Trump publicly endorsed the move, noting pressure from network affiliates who had threatened to pull the show.

Top Gainers

Several stocks experienced significant gains. Some of the top gainers included:

89bio, Inc. (ETNB) +85.15%

Acuren Corp. (TIC) +22.94%

Intel Corp. (INTC) +22.77%

Bullish (BLSH) +20.72%

QuantumScape (QS) +18.23%

Top Losers

The top US stock losers today, based on percentage change included:

QMMM Holdings (QMMM) -15.73%

YPF Sociedad Anonima (YPF) -10.39%

FactSet Research (FDS) -10.36%

Telecom Argentina (TEO) -9.19%

Super Group (SGHC) -8.89%

Notables

• Crypto exchange Bullish (BLSH) surged more than 20% after obtaining a critical New York license necessary for its US market expansion. The company also released its first quarterly earnings since its NYSE debut, signaling strong growth prospects.
• A Bank of America report estimates nuclear energy could represent a $10 trillion market opportunity and potentially serve as “the solution to the world’s power shortages.” Shares of NuScale (SMR) and Oklo (OKLO) have surged more than 100% and 350%, respectively, since the start of the year.
• Disney (DIS) stock was little changed on Thursday after the media giant’s ABC network indefinitely took “Jimmy Kimmel Live!” off air in response to backlash over comments regarding the killing of Charlie Kirk.
• Intel (INTC) soared after Nvidia agreed to purchase $5 billion of Intel stock at $23.28 per share. The companies also announced a multigeneration partnership to co-develop custom data-center and PC products integrating their architectures.
• Crypto exchange Bullish (BLSH) jumped more than 20% after securing a key New York license needed for its U.S. expansion. The company also reported its first quarterly earnings since debuting on the NYSE.
• General Mills (GIS) slipped despite beating Wall Street’s earnings-per-share consensus and reporting revenue in line with expectations. The packaged food giant also reaffirmed its fiscal 2026 outlook.
• Workday (WDAY) surged following a Barron’s report that activist investor Elliott Investment Management disclosed a $2 billion stake in the enterprise software company.
• FedEx (FDX) posted higher quarterly profits but projected 2026 earnings per share largely below analysts’ estimates.
• Nvidia (NVDA) rebounded Thursday from a roughly 3% decline on Wednesday after reports that China advised firms not to purchase its chips. Wednesday’s slump also weighed on Broadcom (AVGO). Thursday’s bounce reflected both the Intel deal and speculation that Nvidia’s China sales could factor into upcoming U.S.–China discussions.
• Other large-cap tech names moved higher alongside Intel and Nvidia, including Palantir (PLTR), AppLovin (APP), and Marvell (MRVL). Advanced Micro Devices (AMD), however, fell amid concerns over competitive pressure from the Nvidia–Intel partnership.
• Darden Restaurants (DRI) declined after missing earnings estimates despite meeting revenue forecasts; same-store sales rose 4.7%, and the company raised its FY26 revenue outlook.
• Cracker Barrel (CBRL) dropped after missing EPS expectations, topping revenue forecasts but warning of a 4%–7% traffic decline at long-open stores amid controversy over a proposed logo change.
• Novo Nordisk (NVO) gained following positive late-stage trial results for its once-daily obesity pill, showing significant weight loss and tolerability comparable to Wegovy. CrowdStrike (CRWD) rose nearly 5% after its investor day, boosted by optimistic 2027 guidance and fresh price-target increases from Wall Street analysts.
• Nike (NKE) advanced after RBC Capital upgraded the stock to “Outperform,” citing expectations of a faster-than-anticipated revenue recovery. Nucor (NUE) fell 3.8% after warning of earnings declines across all three operating segments, according to Barron’s.

What to Watch Ahead

President Donald Trump on Thursday indicated that a TikTok deal with China is nearly finalized ahead of his planned call with President Xi Jinping, while expressing hopes to tackle broader trade issues. He stressed that the company would be owned entirely by “all American investors.”

Looking ahead, key economic and corporate events this week include the Bank of Japan rate decision on September 19; no major data or earnings on September 22; August existing home sales and expected earnings from Micron (MU) and AutoZone (AZO) on September 23; August new home sales and expected earnings from KB Home (KBH) and Worthington Steel (WS) on September 24; and August durable orders, the third estimate of second-quarter GDP, and expected earnings from Accenture (ACN), CarMax (KMX), and Costco (COST) on September