Friday

• Bitcoin surged past $120,000 to seven-week highs while BNB reached record levels above $1,100. Total cryptocurrency market capitalization jumped $130 billion in 24 hours.
• The government shutdown halted the release of the monthly jobs report and other key federal data, leaving investors and policymakers without fresh insight into the labor market.
• Oil prices rose after a fire at California’s Chevron refinery. Japan’s Nikkei jumped 1.9% on AI sector optimism.

Thursday

• Major U.S. stock indices reached new record highs on Thursday, with the S&P 500 and Nasdaq leading gains despite an ongoing government shutdown. Markets demonstrated resilience as investors focused on renewed expectations for Federal Reserve rate cuts following weaker-than-expected private sector employment data.
• Technology stocks surged globally after OpenAI announced partnerships with South Korean firms Samsung and SK Hynix for its $500 billion Stargate AI infrastructure project. This propelled OpenAI to a record $500 billion valuation.
• Bitcoin climbed above $118,000 and the total crypto market capitalization reached $4.07 trillion. Over $280 million in cryptocurrency short positions were liquidated in 24 hours.
• Gold continued its rally to fresh record highs above $3,900 per ounce, supported by safe-haven demand amid government shutdown concerns. South Korea’s Kospi surged 2.7% to record levels on semiconductor optimism.

Wednesday

• Cryptocurrency markets experienced massive short liquidations exceeding $206 million in one hour, driving Bitcoin above $116,000 and Ethereum past $4,200. The short squeeze pushed total crypto market capitalization to $4 trillion as forced position exits fueled the rally.
• The U.S. government shutdown beginning October 1st furloughed 750,000 federal workers and halted key economic data releases including the September jobs report. Markets now price in a 95% chance of Fed rate cuts as the data blackout limits central bank visibility ahead of their October 29 meeting.
• Gold reached record highs above $3,895 per ounce while the dollar index fell to one-week lows amid safe-haven demand. European healthcare stocks surged following a Pfizer-Trump administration deal to lower prescription drug prices in exchange for tariff relief.

Tuesday

• The Dow Jones Industrial Average and the S&P 500 each fell about 0.1%. The Nasdaq Composite also slipped by roughly 0.1%, after modest gains in the previous session.
• US stocks struggled on Tuesday as investors considered the potential impact of President Trump’s new tariffs and the looming possibility of the first government shutdown in seven years.
• The US government faced an imminent shutdown as Congress failed to reach a funding agreement before the midnight deadline. China’s manufacturing PMI remained in contraction territory for the sixth consecutive month.
• Boston Federal Reserve president Susan Collins noted that further interest rate cuts could be warranted, given reduced inflation pressures and the risk of rising unemployment.

Monday

• US equity markets posted sixth consecutive session declines Friday with the Sensex plummeting 733 points to 80,426 and Nifty dropping 236 points to 24,655. Both indices hit three-week lows amid broad-based selling pressure.
• President Trump announced steep tariffs including 100% duties on branded pharmaceutical imports effective October 1, alongside 25% tariffs on heavy trucks and 50% levies on furniture and kitchen products. The BSE Healthcare index fell 2.14% while IT shares declined on H-1B visa fee concerns.
• The Federal Reserve’s preferred PCE index rose 2.7% annually in August, up from July’s 2.6%. Core PCE remained at 2.9%, well above the Fed’s 2% target, while Q2 GDP was revised up to 3.8%.