Overview

• The Dow rose 0.5% to 46,758.28 for a record close, the S&P 500 inched up to 6,715.79 for a new closing high, and the Nasdaq fell 0.28% to 22,780.51.
• A partial federal shutdown postponed the September Labor Department employment report, shifting attention to private data.
• ADP estimated a net loss of 32,000 private-sector jobs in September, pointing to cooling labor demand.
• The ISM non-manufacturing PMI fell to 50 from 52 in August, indicating stagnation in U.S. services activity.
• Corporate moves were mixed as Applied Materials warned of revenue hits from new export curbs and slid, Icecure won FDA authorization for its ProSense breast cancer treatment and jumped, and an OpenAI secondary sale near a $500 billion valuation intensified debate over AI pricing; 10-year Treasury yields rose to about 4.12%.