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36m ago

After Record Run, Stocks Ease as AI Momentum Cools and Data Blackout Bites

Investors look to Fed remarks during the U.S. shutdown, with gold near $4,000.

FILE PHOTO: Traders work on the floor as screens display the logo for Chevron Corp. at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. REUTERS/Brendan McDermid/File Photo
Traders work on the floor of the New York Stock Exchange (NYSE) in New York on October 7, 2025. Wall Street stocks edged higher early Tuesday, extending an upbeat stretch as markets continue to look past a US government shutdown that has curtailed economic data releases. (Photo by TIMOTHY A. CLARY / AFP) (Photo by TIMOTHY A. CLARY/AFP via Getty Images)
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Overview

  • U.S. markets pulled back Tuesday after multiple record closes, with the S&P 500 down about 0.4% and the Nasdaq off roughly 0.7%, while small early gains left futures and Asia mixed.
  • Chip stocks stayed in focus after reports of a multibillion-dollar AMD–OpenAI supply deal, with AMD up 23.7% on Monday and higher again Tuesday following broker upgrades.
  • The federal government shutdown has entered day seven, delaying key economic data and shifting attention to Fed speakers as traders continue to price a 25-basis-point cut later this month.
  • Gold traded near record levels around $4,000 per ounce and Bitcoin hovered close to recent highs, reflecting strong demand for perceived havens and alternative assets.
  • Indian equities advanced, with Nifty back above 25,100 and Sensex near 82,000, supported by sustained domestic institutional buying and a late turn to net purchases by foreign investors.