OCTOBER 1, 2025
S&P 500 Futures Inch Up and Alibaba Stock Jumps.
Stocks were slightly higher Wednesday after the government shut down. Gold futures set another high, hitting $3,900, while Treasury yields and the dollar slipped.
The open was lower, reflecting shutdown concerns. Stocks perked up modestly later, driven in part by sharp gains across the pharmaceutical sector following Tuesday’s announcements.
Wednesday morning’s ADP employment report showed private employers shed about 32,000 positions last month, undershooting consensus forecasts that they would add roughly 45,000 jobs.
Key economic data that the Federal Reserve would typically consider for policy is likely to be disrupted. That includes the September jobs report from the Bureau of Labor Statistics, which was scheduled for release Friday. A prolonged shutdown could also delay the release of the consumer-price index due in mid-October, though generally speaking investors are not expecting a ton of fireworks.
“Shutdowns tend to raise noise more than change trend,” said Larry Adam, chief investment officer at Raymond James.
In Wednesday trading:
Drugmakers rallied again. Pfizer, Merck and others rose for a second day after the White House unveiled a direct-to-consumer drug-buying website for Americans.
The Supreme Court sided with Fed governor Lisa Cook in her battle to keep her job but set a hearing in January on Trump administration efforts to remove her.
Courtesy/Source: TWSJ
