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Markets Rally on Tech Strength, GyG Announces Buyback Amid Policy Debates
Stock Market Newsยท 2025-10-08 22:38
Market Performance - U.S. stock markets showed strong performance with the S&P 500 and Nasdaq Composite reaching new all-time closing highs, with the S&P 500 up 0.58% to 6,753.48 points and the Nasdaq Composite up 1.11% to 23,041.74 points [2][10] - The Dow Jones Industrial Average also saw a slight increase of 0.01% to 46,608.66 points [2][10] Corporate News - Australian fast-food chain Guzman y Gomez (GYG) reaffirmed its financial guidance and announced a $100 million share buyback, indicating confidence in its financial health and future prospects [4][10] Political and Economic Developments - Former President Donald Trump's proposed 100% tariff on branded pharmaceuticals will exclude generic drugs, which is crucial for maintaining lower drug costs for consumers [5][10] - House Speaker Mike Johnson supports back pay for furloughed federal workers, despite a White House memo suggesting Congress may need to approve such payments [6][10] Technological Advancements - Hitachi is integrating Nvidia AI technology for elevator inspections, aiming to enhance efficiency and potentially reduce the need for extensive human staffing [7][10]