Stocks are experiencing a downturn as the United States approaches a government shutdown. However, despite this uncertainty, all three major stock indices are on track to conclude September with solid monthly gains, defying typical seasonal trends.
In the tech sector, Nvidia’s shares are making headlines, reaching a new intraday high. This surge follows a bullish forecast from City, which predicts that artificial intelligence capital expenditures from 2025 to 2029 could reach an impressive $2.8 trillion.
Chip supplier Wolfspeed is also in the spotlight as it emerges from Chapter 11 bankruptcy. The company has successfully reduced its debt by 70% and cut its annual cash interest expenses by approximately 60%. In conjunction with these financial improvements, Wolfspeed issued 1.3 million new shares and canceled previously issued stock, signaling a new chapter for the company.
Pfizer shares are climbing as well, following the company’s agreement with the White House aimed at lowering prices for several of its medications in the U.S. This initiative includes a direct-to-consumer website, named Trump RX, designed to facilitate access to these reduced prices.
As the market reacts to these developments, investors are encouraged to stay informed. For those keen on tracking the performance of various stocks, a QR code is available to view the session’s best and worst performers.