ADDX GO Market Morning Wrap - 26th Sep

Stock Market

 

On Thursday Eastern Time, the three major U.S. indices fell for the third consecutive trading day, as a mix of government data and corporate news sent mixed signals about the economic outlook.  

 

(Intraday chart of the three major indices, Source: TradingView)  

 

At the close, the Dow Jones Industrial Average dropped 0.38% to 45,947.32 points, the S&P 500 fell 0.50% to 6,604.72 points, and the Nasdaq declined 0.50% to 22,384.70 points.  

 

Most large-cap tech stocks slid: Nvidia rose 0.41%, Microsoft fell 0.61%, Apple gained 1.81%, Google dropped 0.55%, Amazon fell 0.94%, Meta declined 1.54%, Tesla plunged 4.38%, Broadcom fell 0.95%, and Oracle slumped 5.55%.  

 

Pre-market data showed Q2 U.S. GDP growth at a final 3.8%, beating the prior 3.3% estimate. Weekly jobless claims fell, and August durable goods orders rebounded, driven by a surge in aircraft orders. These three data points reinforced the view that the U.S. economy remains robust and could heat up again—a narrative that has fueled recent market highs.  

 

However, traders noted that expectations of a strong economy are largely priced in, and Thursday saw signals challenging the bullish story. Rising Treasury yields further pressured tech stocks, prompting investors to trim positions to manage risk. The 10-year Treasury yield hit 4.2%.  

 

Oracle was a major drag on the S&P 500, falling over 5% for its third straight day of losses. Doubts persist about the sustainability of the AI trading frenzy. As of Thursday’s close, Oracle is down nearly 16% from its recent peak.

 

“It feels like a tug-of-war every day,” said Justin Bergner, portfolio manager at Gabelli Funds. “On one side, you’ve got upbeat AI data; on the other, worries about inflation and jobs.”  

Global Hotspots

Trump: No Israeli Annexation of West Bank  

 

On September 25, U.S. President Trump stated he would not allow Israel to annex the West Bank, regardless of talks with Israeli PM Netanyahu.  

 

Trump Approves Death Penalty Reinstatement in Washington, D.C.  

 

On September 25, Trump signed a proclamation approving the reinstatement of the death penalty in Washington, D.C. U.S. Attorney General Pam Bondi said the administration will seek to restore death penalty sentences nationwide.  

 

U.S. Defense Secretary Orders Hundreds of Military Leaders to Urgent Meeting  

 

Defense Secretary Hegseth ordered hundreds of senior U.S. military commanders worldwide to an urgent meeting next week at a Marine Corps base in Virginia, without disclosing the reason. Sources called the order “highly unusual.”

 

Earlier this year, Hegseth’s Pentagon team announced plans to overhaul the top military command structure. Pentagon spokesperson Sean Parnell confirmed on September 25 that Hegseth will meet senior leaders next week but provided no further details.  

 

European Council President: Two-State Solution Only Path to Israel-Palestine Peace  

 

On September 25, European Council President Costa, speaking at the 80th UN General Assembly, said the EU condemns all terrorism, noting Hamas’s attacks cannot be forgotten, while affirming Palestinians’ right to safety and a sovereign state.

 

A negotiated two-state solution is the only path to peace, ensuring security and dignity for both peoples.  

 

Putin: Nuclear Facility Safety is Russia’s “Absolute Priority”  

 

On September 25, Russian President Putin, speaking at the “World Nuclear Week” forum in Moscow, said Russia is developing new peaceful nuclear technologies, with safety as an “absolute priority.” Russia will soon start building small land-based and floating nuclear power plants.

 

Putin emphasized Russia’s strict adherence to nuclear obligations and avoiding dependency for its nuclear partners, balancing peaceful nuclear development with non-proliferation.  

 

Iran VP: No Plans to Abandon Nuclear Program  

 

On September 25, Iran’s VP Mohammad Eslami, at the “World Nuclear Week” forum in Moscow, said Iran’s nuclear program is fully transparent and will not be abandoned. Iran and Russia will jointly build new large and small-scale nuclear power plants.

 

Rosatom’s CEO Alexey Likhachev confirmed ongoing cooperation, including construction of Bushehr’s second and third units.  

 

Putin: Russia Plans World’s First Closed-Cycle Nuclear Plant by 2030  

 

At the “Global Nuclear Forum” in Russia, Putin announced plans to build the world’s first closed-cycle nuclear power plant by 2030, recycling over 95% of nuclear waste for maximum fuel efficiency.  

Company News

Intel Surges Nearly 9% Amid Talks with TSMC for Investment or Partnership  

 

Sources say Intel CEO Lip-Bu Tan is actively seeking investments and commitments to revive the company.

 

Intel has approached Apple and TSMC for potential investment or manufacturing deals. Boosted by the news, Intel jumped 8.87% on Thursday to $33.99 per share, defying the broader market decline.$INTC   

 

OpenAI Test: GPT-5, Claude Rival Human Experts in Some Tasks  

 

On September 25, OpenAI released a new benchmark comparing its AI models to industry professionals. OpenAI said its GPT-5 and Anthropic’s Claude Opus 4.1 are nearing expert-level work quality in some fields.  

 

CoreWeave Scores Third OpenAI Deal of 2025, Contracts Total $22.4B  

 

CoreWeave announced Thursday its third expanded lease agreement with OpenAI this year to provide computing power for next-gen AI models, with the latest deal worth up to $6.5 billion.$CRWV 

 

A March deal was valued at up to $11.9 billion, followed by $4 billion in May, bringing the total to $22.4 billion.  

 

Starbucks to Cut ~900 Jobs in North America, Close Stores in Reorganization  

 

On September 25, Starbucks announced a reorganization plan in a letter to North American partners, involving store closures and a revamp of its support structure. The plan cuts ~900 non-retail jobs and closes many vacant positions.

 

Most store closures are expected by fiscal year-end, with related costs estimated at $1 billion, 90% tied to North America.  $SBUX 

Forex & Commodities  

WTI crude futures fell 0.02% to $64.98/barrel. Brent crude futures rose 0.16% to $69.42/barrel.  

 

COMEX gold futures gained 0.33% to $3,780.5/oz; COMEX silver futures rose 2.89% to $45.47/oz.  

 

At the New York close, the dollar index rose 0.60% to 98.47, with most non-U.S. currencies falling.  

Key Events

Iraq PM Announces Central Government to Take Over Kurdish Oil, Resume Exports  

 

On September 25, Iraqi PM Sudani announced a “historic agreement” for the central government’s Oil Ministry to take control of crude produced in the Kurdish region and export it via the Iraq-Turkey pipeline.

 

The central government has long demanded control over Kurdish oil exports, arguing independent exports hurt fiscal revenue as Iraq cuts other fields’ output to meet OPEC quotas.  

Cryptocurrency  

Bitcoin fell 3.81% in 24 hours to $109,020.  

 

Ethereum (ETH-USD) dropped 6.72% to $3,871.58.  

 

XRP (XRP-USD) fell 6.41%, BNB (BNB-USD) dropped 6.99%, Solana (SOL-USD) declined 9.18%.  

 

Dogecoin (DOGE-USD) fell 7.71%, Cardano (ADA-USD) dropped 6.27%.  

Key Events

Analysts Predict Dogecoin Price Surge: $1 Mark Inevitable?  

 

Crypto analysts Kaleo and Mags predict a parabolic rise for Dogecoin, potentially breaking $1. Despite its current downtrend and risk of retesting $0.2, Mags believes meme coins, led by Dogecoin, will drive the second wave of a meme coin supercycle in this bull market.

 

Notably, Elon Musk’s lawyer Alex Spiro, chairman of Dogecoin asset manager CleanCore, is seeking to acquire up to 1 billion DOGE. The firm already holds over 600 million DOGE.