All three major U.S. stock indices closed significantly higher
All three major U.S. stock indices closed significantly higher, with the Nasdaq up 4.35% and the S&P 500 up 3.26%, both reaching their highest closing levels since March 3; the Dow Jones rose 2.81%, marking its highest close since March 27. Most large tech stocks rose, with Amazon up over 8%, Meta up over 7%, Apple and Tesla up over 6%, Nvidia up more than 5%, Google and Intel up more than 3%, and Microsoft up over 2%; Netflix fell more than 2%.
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Apple is planning to hold its second product launch event of the month around October 27, where it will introduce its first-ever touchscreen MacBook Pro (featuring an OLED display and the “Dynamic Island” interface), a new iPad mini (also upgraded with OLED and a repositioned camera), as well as a 14-inch MacBook Pro and iMac powered by the M6 chip. These are the first major products overseen by the new CEO, John Ternus.
BUZZ - Driven by active trading, the Australian Securities Exchange (ASX) is on track for its best week in two months
October 9 – The stock price of ASX ASX.AX, the operator of the Australian Securities Exchange, has risen more than 3.8% so far this week, on track for its best weekly performance since early August. On Thursday, Citi raised its annual earnings per share (EPS) forecast for ASX by 2%, citing continued strong trading activity. On Friday, the stock was up as much as 0.3% to 60.79 AUD. Citi also holds a positive view of ASX’s new CEO, Anthony Attia, agreeing with his approach of bringing in external talent and modernizing technology. Including the latest gain, the stock is up 18% year-to-date. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. Since automated translations may contain errors or lack context, Reuters does not guarantee the accuracy of the translation. The automated translation is provided solely for the convenience of readers, and Reuters accepts no liability for any damage or loss arising from the use of the automated translation.)
Goldman Sachs upgrades Palantir (PLTR.US) to "Buy" with a price target of $230, optimistic about AI growth continuing through 2027.
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Today's Fear and Greed Index drops to 59, indicating the market is in a "Greed" state.
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