It’s been a jittery September so far, but the uncertainty around the Fed rate hike is now in the rear-view mirror, so investors took the occasion to put money back to work on Thursday.
The Nasdaq closed higher by 1.7% and the S&P 500 by 1.15%.
Megacaps like Nvidia, Google, Tesla, Amazon, and Eli Lilly all posted gains of 1% or more, while chipmakers like Micron, AMD, and Intel rose 5% or more.
Government bond yields fell across the curve, with the 10-year U.S. Treasury down 6.5 basis points to 4.94% and the two-year lower by 5.4 basis points to 4.67%.
Bitcoin rose 0.5%, underperforming the broader CoinDesk 20 Index, which gained 1.5%.
“I have a big decision coming up,” President Trump told Axios Thursday. “Do I want to go in and annihilate them [the Iranian regime] or do I not? It's a big decision. Anything could happen with me.”
Trump’s comments come as his war becomes increasingly unpopular in the U.S., with diesel fuel at record prices, rising interest rates, and less than two months until the mid-term elections.
The odds of the Democrats sweeping both chambers of Congress have surged to 60% on Polymarket from roughly 40% in early summer.
After slumping below $100 per barrel earlier Thursday, WTI crude is back on the rise, returning to $102, now down just marginally for the day.
“The more I am reading [the SEC’s “innovation exemption” rule], the more I like some of the things I am seeing here,” wrote Securitize (SECZ) CEO Carlos Domingo minutes ago.
"Smart contracts must be auditable, publicly accessible, and deployed on public permissionless blockchains, encoding non-discretionary rules," he noted. “This is great for Ethereum, Solana, Avalanche, and many other public chains that will be able to host tokenized securities venues (TSVs) under this exemption.”
“They allow trading against stablecoins AND tokenized money market funds!”
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