Stock Market Today - Nasdaq Rises to 22,631, S&P 500 Extends Gains, Dow Slips; Intel Stock Price Falls 4%, Gold Breaks $3,858 Record

Stock Market Today: Nasdaq Climbs 0.66% to 22,631, S&P 500 Edges Higher, Dow Falls; Intel Stock Price Down 4%, Gold Hits $3,858, Oil Slides to $63

Wall Street Opens the Week Split as Indices React to Shutdown Risk

The U.S. equity market entered Monday with a fractured performance across the benchmarks. The Dow Jones Industrial Average (DJIA) slipped 56 points, or 0.12%, to 46,191.04, reflecting pressure in financials as the KBW Nasdaq Bank Index lost 0.78% to 152.94. The S&P 500 (SPX) managed a gain of 0.31% to close at 6,664.15, while the Nasdaq Composite (COMP) outperformed, climbing 147.90 points, or 0.66%, to 22,631.97 on the back of renewed strength in big technology. The Russell 2000 (RUT) ended flat at 2,434.33, underscoring hesitation in small caps. Despite near-term political risks, history suggests the current recovery is robust: the S&P 500’s rebound from its April 8 low has reached 33% in 125 trading days, making it the fourth strongest rally since 1957.

Shutdown Odds Above 70% Send Dollar and Yields Lower

Markets are positioning for a high probability of a government shutdown, with prediction platforms such as Polymarket and Kalshi pricing odds above 70%. The concern hit the U.S. Dollar Index (DXY), which slipped 0.25% to 95.32, while the 10-year Treasury yield (US10Y) declined to 4.144% from 4.19% late last week. At the same time, implied volatility edged higher with the VIX jumping 3.92% to 15.89. Investors are bracing for delayed macro data, including September’s nonfarm payrolls report, should the shutdown extend into next week. The uncertainty adds weight ahead of the Federal Reserve’s October 28–29 meeting, where traders expect another 25 basis-point cut, lowering the fed funds target to 3.75%–4%, the lowest since December 2022.

Gold Extends Record Run, Oil Prices Collapse on OPEC+ Supply Fears

A rush to safety sent gold futures (GC=F) surging 1.30% to $3,858.60 per ounce, a fresh all-time high. Silver futures rallied to their strongest intraday levels in 14 years, and platinum climbed to heights not seen in more than a decade. The momentum underscores global anxiety around U.S. fiscal stability and weaker currency dynamics. Meanwhile, energy prices fell sharply. West Texas Intermediate crude (CL=F) dropped 3.26% to $63.58 per barrel, while Brent (BZ=F) slipped 2.87% to $67.23 after reports that OPEC+ could implement an output increase in November. The broad S&P GSCI Index Spot slid 0.99% to 555.14, reflecting commodity-wide weakness.

Tech Stocks Anchor Nasdaq Gains: Nvidia, Intel, and EA Dominate Headlines

The Nasdaq Composite’s resilience was driven by heavyweight technology names. NVIDIA (NVDA) rose 2.56% to $182.75, extending its dominance after a brief pullback last week. Intel (INTC), however, surrendered 4% to trade near $34 following a blistering 40% surge earlier this month. Intel’s run was fueled by multi-front investment commitments, including a $5 billion pledge from NVIDIA, potential backing from Apple (AAPL) and Taiwan Semiconductor (TSM), and the U.S. government’s 10% equity stake. Technical analysts flagged major resistance zones at $45 and $56, while support sits at $30 and deeper at $26, making Intel a highly volatile trade in the near term.

Meanwhile, Electronic Arts (EA) surged 5% to $203 after confirming a $55 billion acquisition by Saudi Arabia’s PIF, Silver Lake, and Affinity Partners. The deal values EA at $210 per share, an 8.6% premium to Friday’s close. This follows a 15% jump Friday when speculation of the deal surfaced, making EA the latest major gaming company to be taken off the public market after Microsoft (MSFT)’s $69 billion purchase of Activision Blizzard.

Defense and Healthcare Names See Diverging Flows

Defense stocks continued their upward momentum. Lockheed Martin (LMT) advanced after securing an $11 billion Navy contract to produce helicopters. The Pentagon is reportedly pressing suppliers to double or quadruple missile output, further solidifying Lockheed’s long-term revenue pipeline. In healthcare, GlaxoSmithKline (GSK) gained 2.5% after announcing that CEO Emma Walmsley would step down at year-end, with Chief Commercial Officer Luke Miels set to take over January 1. Novo Nordisk (NVO) slipped less than 1% after being downgraded to “underweight” and having its target price cut, amid growing doubts over whether semaglutide—the active compound in Wegovy and Ozempic—will succeed in Alzheimer’s trials.

Bitcoin Rallies Back Above $114,000 on Institutional Demand

Risk appetite extended into crypto, where Bitcoin (BTC-USD) gained 3.35% to $114,060. The rebound reflects continued institutional flows into ETFs and a hedge against fiscal uncertainty. Traders point to Bitcoin’s ability to rise even amid a stronger gold market as evidence of its expanding role in diversified macro portfolios.

China’s Equity Rally Sparks Bubble Warnings

In Asia, the CSI 300 Index has climbed 16% year-to-date, reaching its highest levels in more than three years, fueled by Beijing’s semiconductor and AI push. Tech shares dominate the rally, with the CSI 300 IT Index hitting its strongest levels since 2015. Yet fundamentals remain mixed. Industrial output growth slowed to 5.2% in August from 5.7% in July, while retail sales increased just 3.4% year-on-year, missing expectations. Household savings stand at a record $22 trillion, but only 5% is allocated to equities, meaning retail investors—who account for 90% of daily turnover—are driving the surge. Cambricon Technologies reported profits soaring more than 4,000% to $402.7 million in H1, underscoring the momentum. Still, Nomura has warned of leverage risk and “bubble-like” behavior in contract research and semiconductor segments.

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