Dow, S&P 500, Nasdaq hold near record highs with Powell on deck-amtomessage

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2025-09-23

Dow, S&P 500, Nasdaq hold near record highs with Powell on deck

US stocks held steady on Tuesday after another record-setting day, as Wall Street waited for the first speech from Chair Jerome Powell since the Federal Reserve started cutting interest rates again.

The Dow Jones Industrial Average (^DJI) nudged up nearly 0.3%. The S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) both hovered around the flatline.

Stocks jumped on Monday to clinch a third straight day of record-high closes, lifted by optimism that the AI trade and further Fed policy easing will continue to fuel the rally. The Nasdaq (^IXIC) led the gains as Nvidia stock surged (NVDA) after the chipmaker said it will invest at least $100 billion in OpenAI (OPAI.PVT).

On the Fed-watching side, Powell is scheduled to deliver a speech on monetary policy later Tuesday, in high focus after policymakers last week lowered rates for the first time in 2025.

His comments will set the stage for the release on Friday of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures index. Wall Street will look for signs that already sticky inflation isn’t heating up, which could dent high expectations for two more rate reductions this year.

In the meantime, updates on US manufacturing and services activity in September are on Tuesday’s docket.

Gold (GC=F) also climbed to another fresh record high as optimism for Fed rate cuts grows.

On the tech side, the spotlight is on Micron Technology’s (MU) quarterly earnings due after the bell. The memory chipmaker’s results will be watched for updates on AI-driven demand and revenue guidance, with analysts expecting an almost 40% jump in sales.

LIVE 9 updates

Stocks steady at the open

US stocks held steady on Tuesday at the open.

The Dow Jones Industrial Average (^DJI) nudged up nearly 0.3%. The S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) both hovered near the flat line.

The largely muted start to Tuesday comes after the three major stock indexes hit record highs for a third consecutive trading session Monday as AI optimism was boosted by Nvidia’s deal with OpenAI.
Better Home & Finance stock soars again as investor behind Opendoor rally calls it ‘Shopify of mortgages’

Shares of the online real estate company Better Home & Finance (BETR) popped more than 27% in premarket trading on Tuesday, adding to Monday’s 46% rally after activist investor Eric Jackson called the company “the Shopify of mortgages.”

Yahoo Finance’s Jake Conley reports:

Read more here.
Plug Power stock extends remarkable rally

Plug Power (PLUG) stock continued to mount significant gains on Tuesday, climbing 11% in premarket trading.

Over the past five days, shares have rallied 68%, including a 21% gain on Monday, as investors see a use case for the company’s green hydrogen fuel in powering data centers and artificial intelligence. The company is also benefiting from a broader lift in clean energy stocks after the Federal Reserve cut interest rates last week.

On Monday, Plug also submitted a prospectus supplement to the SEC related to the potential resale of some or all of its 185.4 million shares of common stock. The warrants have an exercise price of $2.00 per share and expire on March 20, 2028.
Kenvue stock rebounds after Trump links Tylenol use to autism

Kenvue (KVUE) stock rebounded on Tuesday morning after President Trump linked the use of its pain-relieving drug Tylenol to autism but didn’t offer new scientific evidence to support that claim.

Shares rose 4.8% in premarket trading after dropping over 7% on Monday.

In a press conference on Monday, Trump connected incidences of autism with women taking Tylenol while pregnant, which drew criticism from doctors and scientists who say that studies have not found a causal relationship between the two.

“Overall, we see limited judicial risk following today’s announcement, but there could be some impact on Tylenol consumption due to negative headlines,” Citi analysts wrote in a note following the press conference.

Kenvue stock has been under pressure since reports surfaced that the Trump administration would release a report on Tylenol usage and autism. Tylenol makes up about 15% of Kenvue’s US sales.

Read more here.
It’s not just 2025 optimism that’s lifting the stock market

The S&P 500’s (^GSPC) has made impressive returns in a year of economic tumult and historical parallels that hint at overextension, notes Yahoo Finance’s Hamza Shaban in today’s Morning Brief.

He reports:

Read more here.
US-China talks for ‘huge’ Boeing order now in final stages

An order of 500 Boeing (BA) aircraft for China, which has been years in the making, is in the final stages of negotiations and is seen as the potential centerpiece of a US-China trade deal.

US Ambassador to China David Perdue did not offer any details on the size of the order but said, “This is a huge order.”

Shares of Boeing moved up over 2% in premarket trading on the sign that President Trump’s plane diplomacy could deliver another deal.

Bloomberg News reports:

Read more here.
Good morning. Here’s what’s happening today.
Premarket trending tickers: Kenvue, Boeing and Micron

Here’s a look at some of the top stocks trending in premarket trading:

Kenvue Inc (KVUE) stock rebounded and rose 5% in premarket trading on Tuesday after President Trump linked its popular pain medication Tylenol to autism risk during pregnancy.

Boeing (BA) stock rose 2% in premarket trading following news that the US and China were close to finalizing a deal for 500 aircrafts that some say could be the “centerpiece of a trade agreement.“

Micron Technology, Inc. (MU) stock rose 1% before the bell on Tuesday. The company will report its fourth-quarter earnings on Tuesday afternoon and Wall Street analysts are expecting continued strength and growing demand.
Gold pushes to new record as gold ETFs reach three year high

Gold (GC=F) hit a new record high as traders were unfazed by comments from Fed officials about forthcoming monetary policy.

Bloomberg reports:

Read more here.