Overview

• Chipmakers surged after reports of an AMD–OpenAI chip-supply and AI infrastructure arrangement, with AMD up roughly 24%–28% and the Philadelphia Semiconductor Index higher, helping set fresh highs for major U.S. benchmarks.
• U.S. futures and early Tuesday trading were mixed after the record close as investors awaited guidance from Fed officials, with markets pricing a 25-basis-point rate cut later this month.
• The federal shutdown entered its second week, delaying key releases such as the September jobs report and potentially next week's inflation data, leaving investors to lean on Fed commentary and corporate earnings.
• Gold notched record levels near $4,000 an ounce and Bitcoin topped $125,000, reflecting demand for havens and alternative assets in a period of policy and political uncertainty.
• Regional markets diverged, with Tokyo at records and the yen weaker after Sanae Takaichi's LDP leadership win, while French stocks fell following Prime Minister Sébastien Lecornu's abrupt resignation before bargain-hunting stabilized the CAC 40 on Tuesday.