Among companies with a capitalization of at least $10 billion, Intel Corporation recorded the largest increase last week. The shares of this tech giant engaged in the production of chips increased by 20.01% in a week—to $35.50 per share. Next is Teradyne, Inc., a manufacturer of testing and automation equipment, with a growth of 12.90%—to $135.31 per share. This top three is rounded out by the language learning platform Duolingo, Inc., with an increase of 12.20%—to $326.39 per share.

The top three of large-cap companies that recorded the largest losses last week starts off with copper mining company Freeport-McMoRan Inc., whose shares fell by 20.45% in a week—to $35.75 per share. Next is Astera Labs, Inc., a manufacturer of chip connectivity and interface solutions, down 19.34%—to $197.78 per share. Rounding out this top three is NuScale Power Corporation, a designer of nuclear power plants with small reactors, down 18.75%—to $38 per share.

US stock markets closed higher on September 26 after inflation data came in line with expectations. However, the three major indexes fell for the week: the Dow Jones Industrial Average fell 0.2%, the S&P 500 fell 0.3%, and the Nasdaq fell 0.7%. Thus, the growth that had been recorded for several weeks stopped. Analysts said the reason was US President Donald Trump's new tariffs, and concerns about a possible US government shutdown.

BMO Capital Markets has raised its 2025 year-end target level for the S&P 500 to 7,000 from 6,700. The financial institution cited the steady development of artificial intelligence (AI), the main driving force of the stock market, as the basis for this decision. The organization's analysts believe that US stocks are recording intense growth and may enter the so-called "golden mean" phase, similar to the one that occurred in the mid-1990s.

Global stock funds saw their first inflows in three weeks, driven by optimism about AI and expectations of a possible refinancing interest rate cut by the US Federal Reserve. A total of $28.36 billion were invested in global stock funds in the week that ended on September 24. Bond funds saw their biggest weekly inflow since 2022, with $22.96 billion. Gold and precious metals’ funds recorded their biggest weekly inflow since early September, with $5.05 billion. Meanwhile, cash funds continued to see outflows for the second week in a row.

Shares of US medical technology companies fell sharply after the Department of Commerce launched an investigation into medical device imports, raising concerns about possible tariffs. The shares of major companies, such as GE HealthCare, Becton Dickinson, Stryker, Intuitive Surgical and ResMed, fell between 4% and 11%.

Shares of Lithium Americas surged more than 70% in premarket trading on September 24 after reports that the Trump administration is seeking a stake of up to 10% in the company. This decision stems from a strategy to bolster US production of the key mineral and reduce its reliance on China. Shares of other lithium miners also rose amid this news.

Nvidia has announced that it is going to invest up to $100 billion in OpenAI, securing the AI model with leading data center chips and creating a powerful partnership between two leading companies in the AI sector. The deal will give Nvidia a stake in OpenAI through non-voting shares, while OpenAI will receive funding and access to Nvidia technology, which will help it maintain its leadership position in the AI sector. Nvidia's share price rose more than 4% after the news.

In August, consumer spending in the US rose by 0.6%, slightly exceeding expectations; this shows that despite the weakening labor market, the US economy remains stable. People spent more on services, including travel, restaurants, health care, entertainment, and purchases of goods also increased.

The US economy grew at an annual rate of 3.8% in the second quarter, the biggest growth in almost two years. This was mainly due to strong growth in consumer spending and business investment. Despite the strong growth in the second quarter, economists predict slower GDP growth in the second half of 2025 due to trade policy uncertainty and labor market problems.

Analysts see as worrisome for financial markets a possible partial shutdown, or closure, of the US government, which could begin next week if the Democrats and the Republicans fail to reach an agreement on a government funding bill. If this bill is not passed, it will lead to the closure of many US federal agencies, or large-scale cuts, which will delay the publication of important economic reports, such as those on the labor market and inflation. In the absence of such information, the US Federal Reserve, having no guidance data for its future actions, may postpone its plans to reduce the refinancing interest rate. On the other hand, market monitoring by agencies may slow down, and this will delay the submission of reports by companies. If the US government shutdown is prolonged, it can deepen market instability and call into question economic stability.

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