Stock Market Newsยท2025-09-24 20:07Market Performance - U.S. equity markets experienced a subdued performance on September 24, 2025, following a pullback after a three-day record high streak, driven by profit-taking and concerns over inflation and interest rates [1][2][10] - The Dow Jones Industrial Average (DJIA) fell 0.2% to close at 46,292.78, the Nasdaq Composite (IXIC) dropped 1% to finish at 22,573.47, and the S&P 500 (SPX) declined 0.6% to settle at 6,656.92 [2] - On September 24, major indexes continued to decline, with the Nasdaq down approximately 0.4% and both the S&P 500 and DJIA declining around 0.3% [3] Sector Performance - Sector performance was mixed, with the Energy Select Sector SPDR (XLE) advancing 1.7%, while Consumer Discretionary Select Sector SPDR (XLY) and Technology Select Sector SPDR (XLK) both fell 0.9% on September 23 [4] - On September 24, the S&P 500 Materials sector was the worst performer, down 1.5%, and technology shares underperformed the broader market by falling 0.6% [4] Key Market Drivers - Federal Reserve Chair Jerome Powell's cautionary remarks regarding asset prices being "fairly highly valued" influenced market sentiment, leading to profit-taking [5] - Powell indicated a cautious approach to future rate cuts, balancing inflation risks and employment risks, with investors anticipating potentially two more rate cuts this year [5] Upcoming Market Events - Investors are awaiting the release of the Personal Consumption Expenditures (PCE) index on September 26, 2025, with expectations of a 0.25% monthly rise for August and an annual increase of 3% [6] - The U.S. Department of Labor's monthly report for September, including non-agricultural jobs and unemployment rate data, is due on October 3, 2025 [7] Major Stock News - Nvidia (NVDA) shares dropped about 2.8% due to concerns over its $100 billion deal with OpenAI, contributing to the tech sector's underperformance [13] - Micron Technology (MU) reported strong fiscal fourth-quarter results but saw a 4% decline in shares on September 24 after a significant year-to-date gain [13] - Intel (INTC) shares surged approximately 5.5% following a $5 billion investment from Nvidia and a favorable forecast for expense reductions [13] - Lithium Americas (LAC) shares nearly doubled, rising between 87.6% and 91.5%, after reports of potential U.S. government investment in its lithium project [13] - Alibaba (BABA) stock rallied after announcing plans to increase AI spending beyond $50 billion [13] - Freeport-McMoRan (FCX) experienced a significant decline of 10.6% after revising third-quarter sales forecasts downward for copper and gold [13] - Homebuilders like Lennar (LEN), PulteGroup (PHM), and D.R. Horton (DHI) saw stock increases following stronger-than-expected U.S. new home sales in August [13]