Daily summary: Big Techs safeguard gains on Wall Street, gold rallies further on weaker USD (29.09.2025)

Wall Street is heading toward the end of the session in moderately positive territory. Nasdaq 100 futures (US100: +0.5%) and S&P 500 futures (US500: +0.2%) are trading higher, US2000 is flat, and US30 is slightly down (-0.05%).

The likelihood of a U.S. government shutdown is rising, meaning most federal agencies would suspend operations if Congress fails to pass a budget before Wednesday. A shutdown would reduce public services and leave around 800,000 federal employees unpaid. For markets, a particularly important consequence would be the delayed release of Friday’s NFP report, which the BLS would not publish on time in the event of a shutdown. Trump has threatened permanent federal layoffs if the budget is not approved.

The Dallas Fed manufacturing index plunged sharply to -8.7 points in September 2025, well below the Bloomberg forecast of -1 point.

European equity markets started the week with gains. The FTSE 100 rose 0.15%, France’s CAC 40 gained 0.1%, the Dutch AEX led with a 0.36% increase, and Germany’s DAX added 0.15%.

Spain’s inflation for September 2025 came in below expectations. Annual CPI rose 2.9% (forecast 3.1%), while prices fell 0.4% month-on-month. Core CPI increased 2.3% YoY, slightly lower than the previous month.

Economic sentiment in the eurozone for September 2025 reached 95.5 points, slightly above forecasts (95.2) and the previous reading (95.2). Consumer confidence improved to -14.9 points (forecast: -14.9), while industrial sentiment remained stable at -10.3 (forecast: -10.9). However, the services sector showed weaker results, suggesting ongoing imbalances in the economy.

In forex, the U.S. dollar continues to face downward pressure (USDIDX: -0.2%) amid shutdown risks. The Japanese yen benefits most from the uncertainty, trading as the strongest G10 currency today (USDJPY: -0.6%, EURJPY: -0.4%). AUDUSD gains 0.4% ahead of the RBA decision, while Nordic currencies lag, particularly the oil-correlated Norwegian krone (USDNOK: +0.2%).

WTI crude is down over 3% on concerns that OPEC+ may increase production above the planned 137k barrels per day from November, potentially causing oversupply. Analysts predict that the surplus could push oil prices down to $50–60 per barrel. Investors await OPEC decisions and comments from the Saudi energy minister.

Cryptocurrency sentiment remains relatively optimistic, partly supported by improved Wall Street sentiment. Major cryptocurrencies are rising despite ETF outflows: Bitcoin adds 2.7% to $114,200, and Ethereum gains 2.6% to $4,160.

Precious metals continue to rise. Gold is up over 1.6%, approaching the psychological $4,000 per ounce barrier (currently $3,830). Silver and platinum are also gaining, up 1.5% and 1%, respectively.