Wednesday, September 24th, 2025
The market took a downturn today, reacting to Fed Chairman Jerome Powell’s remarks from Tuesday. He emphasized the prevailing uncertainties and highlighted concerns about stagflation.
-
All major indexes ended the day lower.
-
The oil and energy sector, however, continues to gain momentum and stands out as the strongest performer.
-
In recent months, spending on debit and credit cards per household has increased.
The S&P 500 and the high-tech Nasdaq both saw a decline of 0.3%, dislocated from lower tech stocks. Meanwhile, the Dow Jones industrial average decreased by 0.4%, marking a drop of 0.9% today after hitting a 52-week high just yesterday.
The Energy Select Sector SPDR Fund rose by 1.3%, showcasing the strength in the oil and energy sector.
Analysts seem to think that prices will keep climbing, although gold dipped 1.5% after a few weeks of gains.
This supports Powell’s viewpoint, which some see as disconnected from the resilient economy. Investors are hoping to leverage these mixed signals for potential cuts and lower mortgage rates.
A recent report from Bank of America noted that household spending on cards has been on the rise. There was also an unexpected spike in new home sales, though some economists were quick to call it a one-time event, as reported by Reuters.
Lithium America, a Canadian mining company, experienced a stock surge of 95.5%, while Tesla gained 4% thanks to favorable analyst predictions. Uniqure, a Dutch gene therapy firm, reported impressive results with a whopping 247.8% stock increase.
-
Freeport-McMoran Inc (FCX): -16.9%
-
Axon Enterprise Inc (Axon): -10.2%
-
KKR & CO INC (KKR): -6.3%
-
Apollo Global Management (Apo): -5.3%
-
Synopsys Inc (SNPS): -4.5%
Uniqure announced today that positive outcomes were observed in a phase 1 study of AMT-130, a potential treatment for Huntington’s disease. Following this news, the company’s stock soared by 247.8%, marking a new 52-week high.
More economic analysis:
Saratabritzi, director at the Huntington Disease Centre in London, commented that the data presented is significant, highlighting how AMT-130 could potentially slow the progression of the disease. This brings a sliver of hope for those affected by this challenging condition.
Huntington’s disease is a genetic, neurodegenerative condition that impacts both physical and mental abilities and currently has no cure. Nevertheless, recent findings suggest a slowdown in 75% of cases over a three-year period with the gene therapy.
Tesla’s stock (TSLA) saw a 4% increase today after Mizuho investment firm lifted its price target from $375 to $450. Analysts noted a 17% rise in U.S. EV sales year-over-year, suggesting market confidence in the automotive industry. They also mentioned that the effects of tariffs on new vehicle prices have lessened.
UBS even adjusted Tesla’s third-quarter delivery forecast to 475,000, up from 431,000, although a decline is expected for the fourth quarter when the electric vehicle tax credit expires.
Related: Today’s Stock Market: Stocks sink for the second day in a row
Lithium America (rack) skyrocketed 95.5%, influenced by reports that the Trump administration might consider acquiring a 10% stake in the mining company, but there are mixed feelings about this news and its implications. A detailed assessment remains complicated due to uncertainty in the market.
Meanwhile, Lawrence Alexander from Jeffreys kept his buy rating, albeit he lowered the price target from $8 to $7.
