Overview

• U.S. benchmarks closed at record levels for a third straight session, with the Dow up 0.14%, the S&P 500 up 0.44% and the Nasdaq up 0.70%.
• Nvidia gained 3.9% after detailing plans to invest up to $100 billion in OpenAI to build AI data centers targeting at least 10 gigawatts of capacity over several years.
• Apple jumped 4.3% after Wedbush raised its price target to $310, citing an analyst view of stronger iPhone 17 demand.
• The Federal Reserve cut rates by 25 basis points last week, futures imply further reductions this year, and CME FedWatch shows roughly 90% odds of another cut in October as markets await comments from officials including Jerome Powell.
• Investors flag political risk from a potential partial U.S. government shutdown on Oct. 1, which could cap near-term gains.