No signs of U.S. stocks’ bull run slowing for now

Investors proceed to pile into shares, undeterred by a authorities shutdown or shaky jobs information, with all three benchmarks hitting document highs Thursday.

With the Senate not assembly yesterday as a result of of Yom Kippur, the U.S. authorities stayed shut for a second day. Treasury Secretary Scott Bessent told CNBC on Thursday that financial progress might take “a hit” as a result of of the shutdown. Investors appear to have dismissed these issues.

The jobs market already appears fairly battered, not less than in phrases of new hirings.

Year-to-date hiring is down 58% from the identical interval a 12 months in the past, to hit its lowest stage since 2009, primarily based on information from outplacement agency Challenger, Gray & Christmas. 

But the jobless stage has stayed at 4.34%, based on a comparatively new set of data indicators compiled by the Chicago Federal Reserve. This echoes Fed Chair Jerome Powell’s description of the financial system as one that’s “low fire, low hire.”

Granted, these numbers will not be from the Labor Department. We’re patching collectively an image from completely different sources. That’s like attempting to recreate New York meals truck Halal Guys’ well-known white sauce however ending up with an extraordinary mayonnaise — however it’s nonetheless a selection that provides some worth within the absence of the true factor.

Markets are taking all that of their stride as they scale new peaks. Joining the social gathering was the world’s most useful firm, Nvidia, which hit an all-time. Intel — although it’s nonetheless removed from its excessive in 2021, additionally rose to ship 50% gains to investors over the last month amid a sequence of profitable tie-ups.

Tom Lee, head of analysis at Fundstrat, predicts that the S&P 500 might attain 7,000 by year-end. With markets wanting unperturbed, which may prove true sooner if nothing critical is available in the best way of the bulls.

Berkshire Hathaway to purchase OxyChem for $9.7 billion. The deal, which might be settled in money, would be the largest for Warren Buffett’s conglomerate since 2022, when it acquired insurer Alleghany for $11.6 billion. OxyChem is Occidental Petroleum’s petrochemical unit.

Tesla’s third-quarter deliveries rise. The Elon Musk-led firm delivered 497,099 vehicles in that period, up 7% from a 12 months in the past. Meanwhile, BYD delivered 393,060 units in September alone — however that was nonetheless a 6% year-on-year fall and its first decline in 2025.

Hiring within the U.S. at its slowest since 2009. While the Bureau of Labor Statistics’ nonfarm payrolls report will not be launched as a result of of the federal government shutdown, various studies present that the U.S. jobs market, whereas regular in some areas, is creaking on the hiring front.

Record highs for shares. The three main U.S. indexes rose Thursday to close at fresh all-time highs. The S&P 500 might hit 7,000 by the end of the year, stated Tom Lee. Across the Atlantic, Europe’s regional Stoxx 600 additionally closed at a new high, rising 0.53%.

[PRO] The issue figuring out which pharma firm will prevail. U.S. President Donald Trump’s 100% tariffs on branded and patented medication will undoubtedly hit pharma companies — however some might turn out to be winners in this scenario.

Russia’s economy is creaking — and the Kremlin wants Russians to pay more for the war

Russia is ready to hike taxes on companies and customers as the federal government appears to be like for methods to assist navy spending whereas its war-focused financial system creaks on the seams.

The Kremlin’s dedication to the continued struggle with Ukraine got here underneath renewed scrutiny Monday when the finance ministry launched its 2026 draft finances. The plans present protection spending subsequent 12 months would keep largely static, and could be funded with tax hikes amid more and more dour progress forecasts.

— Holly Ellyatt