Stock Market Today: Stocks Stay Strong As Last Full Trading Week of Third Quarter Kicks Off

Market Overview - U.S. equity markets opened lower, with the Russell 2000 down by 0.77%, Dow down by 0.39%, S&P 500 down by 0.13%, and Nasdaq slightly up by 0.01% [1] - All four major market indexes are down, with the Russell 2000 being the least affected at -0.15% and the Dow lagging at -0.44% [4] Commodity Prices - Gold reached a new record, trading above $3,750 per ounce [2] - Crude oil prices declined by 1.07%, settling at $62.01 [2] - The 10-year Treasury yield decreased by 0.34 basis points to 4.125% [2] Analyst Updates - Goldman Sachs raised its 12-month target for the S&P 500 to 7,200, while RBC Capital set a new target of 7,100 [2] - Piper Sandler upgraded Tesla's price target from $400 to $500, reflecting the company's expansion into humanoid robotics [2] Corporate Actions - Pfizer announced plans to acquire weight loss drug company Metsera for $7.3 billion [2] - There are 12 earnings reports expected today, including those from Firefly Aerospace and PACS Group, although overall earnings activity is limited [7] Economic Indicators - The Chicago Fed National Activity Index recorded its highest level in five months at -0.12, indicating modest economic recovery in August [3] - U.S. businesses are advising foreign-born workers to remain in the country amid potential changes to the H-1B visa program, which may include a new $100,000 fee [3] Market Sentiment - The current week marks the last full trading week of the quarter, with bullish sentiment prevailing as stocks have reached new heights due to the Federal Reserve's easing cycle [5]