2025-09-30 20:59

Indexes close up: Dow 0.18%, S&P 500 up 0.41%, Nasdaq 0.31% Of 11 major S&P 500 industry sectors, 4 close in the red Health sector gains led by Pfizer after deal with Trump Airline sector sells off as government shutdown disruptions loom Firefly Aerospace shares tumble after rocket test mishap NEW YORK, Sept 30 (Reuters) - Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's interest rate policy outlook. With investors having bet for some time on a spate of further Fed rate cuts, the benchmark S&P 500 (.SPX) , opens new tab, the tech-heavy Nasdaq (.IXIC) , opens new tab and the Dow (.DJI) , opens new tab all gained for the second quarter in a row. For the S&P 500 and the Dow, it also marked their fifth straight monthly gain while the Nasdaq registered its sixth straight monthly gain. Sign up here. And with no signs of an end to the standoff in Washington, U.S. President Donald Trump warned congressional Democrats that a federal government shutdown at midnight would allow his administration to take "irreversible" actions including shutting down programs important to them. While previous shutdowns have had a limited impact on markets, some analysts warned that this time could be more disruptive, given the delicate economic backdrop. Earlier on Tuesday, a Labor Department report showed job openings increased marginally in August, while hiring and layoffs declined. Another data point showed U.S. consumer confidence declined more than expected in September. The latest jobs data did not suggest significant job losses, but Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia, said, "it's a very balanced market that could be tipped either way very quickly." He said the market's leadership mix of defensive sectors such as healthcare (.SPXHC) , opens new tab and consumer staples (.SPLRCS) , opens new tab along with more cyclical sectors such as industrials (.SPLRCI) , opens new tab showed a lack of "significant conviction directionally." "Maybe there's some position-squaring in advance of the prospect of a government shutdown," Luschini said. "Were that to occur, and last beyond Friday, we'll start to accumulate significant economic data such as the jobs report on Friday that won't be released. That leaves investors a little bit in the shadows with regard to what's going on on the ground." The Dow Jones Industrial Average (.DJI) , opens new tab rose 81.82 points, or 0.18%, to 46,397.89, marking its latest record closing high. The S&P 500 (.SPX) , opens new tab gained 27.25 points, or 0.41%, to 6,688.46 and the Nasdaq Composite (.IXIC) , opens new tab gained 68.86 points, or 0.31%, to 22,660.01. For the month the S&P 500 gained 3.53%, for its biggest September percentage gain since 2010 while for the quarter it gained 7.79%, for its biggest third-quarter gain since 2020. For the quarter, the Nasdaq rose 11.24%, for its biggest third-quarter gain since 2010 and the Dow climbed 5.22%. For the month the Nasdaq rose 5.61%, and the Dow climbed 1.87%, for its biggest September gain since 2019. Among the S&P 500's 11 major industry sectors, healthcare was the leader, adding 2.45%. Its biggest gainer was Pfizer (PFE.N) , opens new tab, which rallied 6.8% after Trump said it will cut the price of all prescription drugs in the Medicaid program for low-income Americans and sell new prescription drugs at a "most favored nation" price in exchange for tariff relief. Helping other healthcare stocks to rally, Trump also said he expects other drugmakers to follow suit. The Dow Jones Transportation Average Index (.DJT) , opens new tab fell 0.4%, with airlines leading declines due to the government shutdown threat. A group representing major U.S. airlines had warned on Monday that a partial federal government shutdown could strain American aviation and slow flights, as air traffic controllers and security officers would be forced to work without pay and other functions would be halted. Southwest Airlines (LUV.N) , opens new tab shares fell 2.6% while United Airlines (UAL.O) , opens new tab lost 2.2%. In preparation for the shutdown, the U.S. Transportation Department said that more than 11,000 employees at the Federal Aviation Administration, about a quarter of its staff, will be furloughed if government funding lapses at midnight, while more than 13,000 air traffic controllers would be required to keep working unpaid until the shutdown ended. Earlier in the day, Fed Vice Chair Philip Jefferson warned that the job market could face stress without central bank support, while Boston Fed President Susan Collins said she was open to additional rate cuts. In individual stocks, chipmaker Wolfspeed (WOLF.N) , opens new tab surged 29% a day after exiting bankruptcy. Firefly Aerospace (FLY.O) , opens new tab shares sank 20.7% following a testing mishap that destroyed the core booster for its centerpiece Alpha rocket. Lamb Weston (LW.N) , opens new tab shares rose 4.3% after the frozen-potato products maker beat analysts' estimates for first-quarter revenue and profit. Advancing issues outnumbered decliners by a 1.27-to-1 ratio on the NYSE where there were 352 new highs and 87 new lows. On the Nasdaq, 2,324 stocks rose and 2,367 fell as declining issues outnumbered advancers by a 1.02-to-1 ratio. The S&P 500 posted 48 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 104 new highs and 85 new lows. On U.S. exchanges 18.56 billion shares changed hands on Tuesday, compared with the 18.38 billion moving average for the last 20 sessions. https://www.reuters.com/business/wall-street-futures-fall-investor-jitters-over-looming-government-shutdown-2025-09-30/

2025-09-30 20:50

Sept 30 (Reuters) - Blue Whale Materials said on Tuesday it has started commissioning its Bartlesville, Oklahoma, lithium-ion battery recycling facility and expects to have it fully operational within a year. The facility is one of several under development in Oklahoma, the rural U.S. state aiming to the epicenter for U.S. critical minerals processing, which Reuters reported earlier this year. Sign up here. Privately held Blue Whale's facility will be able to process 14,000 metric tons per year of battery manufacturing scrap and end-of-life batteries into roughly 8,000 to 9,000 metric tons per year of black mass, essentially shredded battery parts that can be broken down further into cobalt, nickel and other critical minerals. The company has separately received a $55 million grant from the U.S. Department of Energy to fund an expansion project for the site that aims to boost capacity to 50,000 metric tons per year within four years. https://www.reuters.com/business/energy/blue-whale-materials-starts-commissioning-oklahoma-battery-recycling-facility-2025-09-30/

2025-09-30 20:31

TIERRA AMARILLA, Sept 30 (Reuters) - Residents in the mining town of Tierra Amarilla in the Chilean desert are hopeful that a new court ruling will allay their fears about a giant sinkhole that opened near their homes more than three years ago and remains unfilled. A Chilean environmental court this month ordered Minera Ojos del Salado, owned by Canada's Lundin Mining (LUN.TO) , opens new tab, to repair environmental damage related to activity at its Alcaparrosa copper mine, which is thought to have triggered the sinkhole that appeared in 2022. Sign up here. The ruling calls on the company to protect the region's water supply and refill the sinkhole. The cylindrical crater originally measured 64 meters (210 ft) deep and 32 meters (105 ft) wide at the surface. That has provided a small measure of relief to those in arid Tierra Amarilla in Chile's central Atacama region, who fear that without remediation the gaping hole could swallow up more land. "Ever since the sinkhole occurred ... we've lived in fear," said Rudy Alfaro, whose home is 800 meters from the site. A health center and preschool are nearby too, she said. "We were afraid it would get bigger, that it would expand, move toward the houses." The sinkhole expelled clouds of dust in a recent earthquake, provoking more anxiety, she said. The court upheld a shutdown of the small Alcaparrosa mine ordered by Chile's environmental regulator in January, and confirmed "irreversible" damage to an aquifer, which drained water into the mine and weakened the surrounding rock. "This is detrimental to an area that is already hydrologically stressed," said Rodrigo Saez, regional water director. Lundin said it will work with authorities to implement remediation measures. https://www.reuters.com/sustainability/climate-energy/giant-sinkhole-chilean-mining-town-haunts-residents-three-years-2025-09-30/

2025-09-30 20:27

Sept 30 (Reuters) - Jamie McGeever is enjoying some well-deserved time off, but the Reuters markets team will still keep you up to date on what's happening in markets. We are just hours away from a U.S. government shutdown, barring a last-ditch agreement between Republicans and Democrats to fund federal agencies. I'd love to hear from you, so please reach out to me with comments at [email protected] , opens new tab Today's Key Reads Sign up here. Today's Key Market Moves Today's Key Talking Points Unless Republicans and Democrats reach an agreement to at least temporarily fund federal agencies in the next few hours, the U.S. government would enter its 15th shutdown since 1981. In a salvo ahead of the deadline, President Donald Trump warned congressional Democrats that allowing the federal government to shut down would let his administration take "irreversible" actions including closing programs important to them. The government last shut down for over 30 days in 2018 and 2019, during Trump's first term. While tariffs have receded as the main factor driving markets, Trump demonstrated this week that he continues to favor the levies as a key policy tool. The Republican president started the week saying he would impose a 100% tariff on all films produced overseas that are then sent into the U.S., signaling his willingness to extend protectionist trade policies into cultural industries. Then late last night, the White House said Trump signed a proclamation to set a 10% tariff rate on imports of lumber and 25% on vanities, kitchen cabinets and upholstered wooden products. Tariffs also appeared to be a key lever Trump used in securing an agreement from Pfizer to lower drug prices. Trump said on Tuesday that the drugmaker will cut the price of all prescription drugs in the Medicaid program for low-income Americans and sell new medicines at a "most-favored-nation" price, in exchange for tariff relief. A day after topping $3,800 an ounce for the first time, gold prices hit another record high on Tuesday. The yellow metal climbed over 11% in September alone, pushing its year-to-date ascent to about 47%. Uncertainty over the government shutdown appeared to be helping the bid for the safe-haven asset. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. https://www.reuters.com/business/global-markets-trading-day-graphic-2025-09-30/

2025-09-30 20:16

Oct 1 (Reuters) - At least 22 people have been killed following a powerful 6.9-magnitude earthquake in the Philippines, a government official said, marking one of the country's most devastating disasters this year. The earthquake that struck off the coast of Cebu City in the Philippines' central Visayas region just before 10 p.m. (1400 GMT) on Tuesday led to power outages and damaged buildings in the region. Sign up here. Alfie Reynes, vice mayor of the town of San Remigio, confirmed the death toll of 22 in an interview with DZMM radio. Another government official told Reuters by phone that at least 21 people have been reported dead in Cebu province, adding that verification is underway on the reported fatalities. The New York Times earlier reported that at least 37 people have been injured due to the quake, along with the collapse of a few buildings and infrastructure including bridges. Earthquake monitoring agencies had pegged the depth of the quake at around 10 km (6.2 miles) and recorded multiple aftershocks, the strongest having a magnitude of 6. Another monitoring agency said there was no tsunami threat following the quake. Cebu City has a population of nearly 1 million, according to the USGS. Philippine seismology agency Phivolcs warned of aftershocks and damage from the offshore tremor. It also warned that "strong currents and rapid changes of seawater level are expected." "The concerned public is advised to be on alert for unusual waves," it said in an advisory. The warning was canceled three hours later. The Philippines lies in the Pacific "Ring of Fire," where volcanic activity and earthquakes are common. The country had two major earthquakes in January with no casualties reported. In 2023, a 6.7 magnitude offshore earthquake killed eight people. https://www.reuters.com/business/environment/magnitude-69-earthquake-strikes-eastern-visayas-region-philippines-no-tsunami-2025-09-30/

2025-09-30 20:04

NEW YORK, Sept 30 (Reuters) - The U.S. Securities and Exchange Commission on Tuesday told employees to prepare for a potential lapse in funding, according to an email seen by Reuters, as the United States headed towards its potential 15th government shutdown since 1981. Government funding will lapse at midnight unless Republicans and Democrats in Congress agree on a deal to temporarily fund federal agencies with Wednesday's start of a new fiscal year. Sign up here. "We continue to watch the progress on FY2026 appropriations for the SEC," said Ken Johnson, the SEC's chief operating officer, in the memo to all staff. The SEC did not respond immediately to request for comment. The email seen by Reuters included text provided by the White House blaming the shutdown on Democrats. A shutdown would reduce the SEC to a skeletal staff of around 9% of current levels, according to its August 2025 plan for a lapse in government funding. This would severely limit the agency’s ability to review corporate filings, investigate misconduct, and oversee markets. https://www.reuters.com/sustainability/boards-policy-regulation/wall-street-regulator-cuts-costs-market-surveillance-tool-2025-09-30/