Stock Markets Today: Mixed Results; Dow and S&P 500 Reach New Record Highs, Nasdaq Drops Back; Fed Chair Powell to Make First Comments Since Rate Cut

September 23, 2025

Nvidia’s $10 Billion Partnership with OpenAI

Recently, Nvidia (NVDA) experienced a dip in its stock after witnessing a significant one-day surge during early trading on Tuesday.

As part of a new deal, Nvidia will supply OpenAI with its advanced Vera Rubin platform. This will enable the makers of ChatGPT to establish data centers and other AI infrastructures that require a substantial power supply—specifically, at least 10 gigawatts. Nvidia anticipates that the finer points of this collaboration will be confirmed soon.

Nvidia’s stock dropped about 2%, settling around $180, following a nearly 4% increase the day before. Up until yesterday, their stock had appreciated by 37% in 2025, outpacing the overall market. There’s been significant investment from major tech firms and government clients in Nvidia’s products as they ramp up their AI capabilities.

After reaching all-time highs last month, Nvidia’s shares appear to be stabilizing within a specific trading pattern, setting the stage for potential further increases.

These developments point to a consistent upward momentum, bolstered by increased trading volumes, revealing strong market confidence.

Interestingly, the relative strength index has also indicated a positive reversal.

Uzbekistan Airlines Places Major Boeing Order

Boeing (BA) has secured a significant order with Uzbekistan Airlines, totaling up to 22 787 Dreamliner jets, with the deal valuing more than $8 billion, as mentioned by former President Donald Trump.

This agreement, announced on Monday, includes 14 Boeing 787-9 Dreamliners, along with options for eight more units. Following this news, Boeing’s shares rose by 2.2% in pre-market trading. The stock has appreciated 20% this year after a difficult previous year marked by safety issues and strikes at their Washington facility.

Trump noted on his social platform that he had recently spoken with Uzbekistan’s President, Shavkat Mirziyoyev, expressing congratulations on this landmark agreement, stated to be worth over $8 billion.

The airline emphasized that this order will modernize its fleet, aiding in the expansion of international routes to the US and other long-haul destinations, as global travel demand continues to grow. The Dreamliner is recognized for its fuel efficiency.

IONQ Announces Significant Quantum Computing Achievements

IONQ (IONQ) shares climbed 4% before the opening bell, as the company announced it had reached “milestone” advancements in quantum computing.

Based in College Park, Maryland, IONQ has achieved successful frequency conversion of photons from their interface with trapped barium ions, effectively engaging with telecom wavelengths in prototype systems.

Remarkably, IONQ’s stock has surged over 70% since the beginning of the year.

OECD Adjusts US GDP Growth Forecast

The OECD (Organisation for Economic Co-operation and Development) revealed that it has raised its economic growth forecast for the US in 2025, largely due to investments driven by the AI boom. However, it pointed out that rising tariffs and a decline in net immigration could slow growth in the coming year.

The OECD anticipates the US real GDP growth will reach 1.8% in 2025, reflecting an increase from its previous forecast of 1.6% in June. Still, this figure is significantly lower than the 2.8% growth seen in 2024, with projections for just 1.5% growth in the following year.

The organization noted that while AI investment is benefitting the US economy, the strong growth in tech sector investments has been waning since 2024, more than offset by heightened tariffs and reduced immigration.

Specifically, the effective tariff rate in the US rose to approximately 19.5% by the end of August, influenced by tariffs put in place during Trump’s administration, marking the highest rate since 1933. Additionally, the OECD observed a softening in the labor market.