{"id":264756,"date":"2025-09-29T21:02:23","date_gmt":"2025-09-29T21:02:23","guid":{"rendered":"https:\/\/www.europesays.com\/us\/264756\/"},"modified":"2025-09-29T21:02:23","modified_gmt":"2025-09-29T21:02:23","slug":"wall-street-drifts-as-tech-stocks-climb-and-oil-prices-sink","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/264756\/","title":{"rendered":"Wall Street drifts as tech stocks climb and oil prices sink"},"content":{"rendered":"

By STAN CHOE, AP Business Writer<\/strong><\/p>\n

NEW YORK (AP) \u2014 Wall Street ticked higher on Monday as technology stocks recovered some of their\u00a0losses from late last week<\/a>.<\/p>\n

The S&P 500 added 0.3%. The Dow Jones Industrial Average rose 68 points, or 0.1%, and the Nasdaq composite climbed 0.5%. All three are near their\u00a0all-time highs<\/a>\u00a0set a week ago.<\/p>\n

Big Tech stocks ticked higher to lead the way. Amazon added 1.1% following its 5.1% drop last week, and Microsoft rose 0.6% to recover some of its 1.2% decline. While their moves were modest, they were still two of the strongest forces lifting the S&P 500 Monday because they\u2019re two of Wall Street\u2019s most valuable stocks.<\/p>\n

On the losing end of the market were companies in the oil business, which were hurt by slumping crude prices. Drops of 2.6% for Exxon Mobil and 2.5% for Chevron were two of the heaviest weights on the S&P 500.<\/p>\n

This week\u2019s highlight is scheduled to arrive on Friday, when a report will be due about how many jobs U.S. employers created and destroyed last month. The hope is that it will be balanced enough to keep the Federal Reserve on track to continue cutting interest rates.<\/p>\n

The Fed just delivered\u00a0its first cut of the year<\/a>, and officials have penciled in more through the end of next year. That\u2019s critical for investors because U.S. stocks have shot to records\u00a0from a low in April<\/a>\u00a0in large part because of expectations for several cuts from the Fed. Easier rates can give the job market a boost and make investors more willing to pay high prices for stocks and other investments.<\/p>\n

If Friday\u2019s job numbers prove too strong, they could make the Fed less willing to cut rates. That could hurt stocks, which already face criticism that they\u2019ve become too expensive following their big rally. If the job numbers are too weak, they could mean a recession that would hurt stock prices on its own.<\/p>\n

One wild card may pop up in the interim: The U.S. government is nearing a deadline that could result in\u00a0its shutdown<\/a>.<\/p>\n

The United States has already had many\u00a0such shutdowns in the past<\/a>, which have caused only minimal waves for the U.S. stock market and for the economy. But another shutdown could delay the collection and release of economic data, such as on jobs and inflation. Without those reports, increasing uncertainty on Wall Street could make markets more twitchy.<\/p>\n

This shutdown may also be different because the White House may push\u00a0for large-scale firings of federal workers<\/a>\u00a0this time around.<\/p>\n

\u201cWe believe that a shutdown will have only a small and transitory economic impact, but it may spur some financial market volatility,\u201d according to Jennifer Timmerman, investment strategy analyst at Wells Fargo Investment Institute.<\/p>\n

On Wall Street, Electronic Arts climbed 4.5% after the video game maker confirmed rumors of\u00a0a $55 billion buyout<\/a>. A group of investors will pay $210 in cash for each share of EA, and they are calling it history\u2019s largest all-cash deal to take a business private.<\/p>\n

CSX chugged 5.4% higher after\u00a0the railroad operator named Steve Angel as its chief executive<\/a>. Angel was previously CEO of Linde and its predecessor Praxair, and he is replacing Joe Hinrichs, who also left CSX\u2019s board.<\/p>\n

Stocks in the marijuana-related business soared after President Donald Trump posted a video to his social media network calling hemp-derived CBD a \u201cgame changer\u201d in improving the quality of life for seniors. Tilray Brands jumped 60.9%, and Canada\u2019s Canopy Growth rose 17% in Toronto.<\/p>\n

All told, the S&P 500 rose 17.51 points to 6,661.21. The Dow Jones Industrial Average added 68.78 to 46,316.07, and the Nasdaq composite climbed 107.09 to 22,591.15.<\/p>\n

In stock markets abroad, indexes mostly rose in Europe and Asia.<\/p>\n

The FTSE 100 in London added 0.2% as GSK climbed 2.2% after the\u00a0pharmaceutical giant said CEO Emma Walmsley will step down<\/a>\u00a0at the end of the year. Luke Miels, currently GSK\u2019s chief commercial officer, will replace the 56-year-old Walmsley, who was the first woman to lead a major pharmaceutical company<\/p>\n

The Hang Seng in Hong Kong jumped 1.9%, and Tokyo\u2019s Nikkei 225 fell 0.7% for two of the world\u2019s bigger moves.<\/p>\n

Oil prices slumped more than 3%. Analysts cited reports that oil-producing nations in the OPEC+ group might raise their production limits next month, which added to the notion that too much supply is washing around the world.<\/p>\n

Gold topped $3,850 per ounce to continue its record-breaking run amid expectations for cuts to interest rates by the Fed, along with worries about inflation and the mountains of debt that governments are carrying worldwide.<\/p>\n

In the bond market, the yield on the 10-year Treasury eased to 4.14% from 4.20% late Friday.<\/p>\n

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.<\/p>\n

Originally Published: September 29, 2025 at 8:49 AM EDT<\/p>\n","protected":false},"excerpt":{"rendered":"By STAN CHOE, AP Business Writer NEW YORK (AP) \u2014 Wall Street ticked higher on Monday as technology…\n","protected":false},"author":3,"featured_media":264757,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,144,138276,17709,405,403,5226,5225,5228,5227,2274,10747,67,586,132,5230,68,2969,3642],"class_list":{"0":"post-264756","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-dow-jones-industrial-average","10":"tag-goverment-shutdown-stock-market-impact","11":"tag-nasdaq","12":"tag-new-york","13":"tag-new-york-city","14":"tag-newyork","15":"tag-newyorkcity","16":"tag-ny","17":"tag-nyc","18":"tag-sp-500","19":"tag-stock-market-today","20":"tag-united-states","21":"tag-united-states-of-america","22":"tag-unitedstates","23":"tag-unitedstatesofamerica","24":"tag-us","25":"tag-usa","26":"tag-wall-street"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115289610236621885","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/264756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=264756"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/264756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/264757"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=264756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=264756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=264756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}