{"id":2394,"date":"2025-10-03T15:49:44","date_gmt":"2025-10-03T05:49:44","guid":{"rendered":"https:\/\/www.amillex.com\/?p=2394"},"modified":"2025-12-23T19:31:05","modified_gmt":"2025-12-23T08:31:05","slug":"news20251003en","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/pt\/2025\/10\/03\/news20251003en\/","title":{"rendered":"Amillex Daily Market Commentary: Gold Pulls Back, Chip Stocks Lead Gains as Markets Weigh Government Shutdown and Fed\u2019s Cautious Tone"},"content":{"rendered":"<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<h2 class=\"wp-block-heading\">October 3, 2025 \u2013 The U.S. government shutdown entered its third day, with economic data releases disrupted, heightening market uncertainty. Major U.S. equity indices showed divergence: chip stocks drove the Nasdaq to an intraday record high, while the Dow Jones and S&amp;P 500 turned lower. Pharmaceutical stocks, after a strong rally, retreated, while Chinese ADRs extended gains. Precious metals fell sharply after cautious signals from Federal Reserve officials.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Equities: Chip Stocks and Chinese ADRs Outperform, Pharma Retreats on Profit-Taking<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">The Nasdaq set an intraday record high, boosted by chip stocks. Nvidia rose more than 2% in early trading, marking a third straight record close. AMD climbed nearly 4%, and Broadcom advanced more than 2%.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">The S&amp;P 500 and Dow Jones both turned lower intraday, dragged by healthcare. The sector fell nearly 0.6%, with Pfizer, Merck, and Eli Lilly each down more than 1%, ending their two-day rally.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Chinese ADRs extended their rebound, with the Nasdaq Golden Dragon China Index rising more than 2% intraday. Alibaba at one point surged over 5% in early trading.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Tesla\u2019s Q3 deliveries came in at 497,000 units, beating expectations, but the stock reversed after an early rally and fell nearly 1.7%.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Chip Stocks Strength: OpenAI\u2019s employee share sale reportedly valued the company at $500 billion, highlighting the boom in the AI ecosystem and boosting Nvidia and other suppliers to new highs.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Pharma Pullback: Gains in prior sessions, coupled with the fading impact of tariff exemptions on pharmaceuticals, triggered sector rotation into technology.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Chinese ADR Resilience: Valuation recovery and policy expectations supported sentiment, with markets also eyeing potential U.S.-China thawing signals.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Precious Metals: Gold and Silver Retreat Sharply on Hawkish Fed Signals<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">COMEX gold futures fell more than 1%, while spot gold dropped about 1%, pulling back from fresh intraday records.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Silver sold off more sharply, with futures down more than 3% and spot prices sliding over 2%.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Fed\u2019s Caution: Dallas Fed President Lorie Logan said \u201crate cuts must be approached very cautiously to avoid policy reversals,\u201d dampening easing expectations.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Profit-Taking: After four straight record-setting sessions, some investors locked in gains. Nonetheless, the government shutdown and geopolitical risks remain medium- to long-term supports for gold.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">FX and Commodities: Dollar Holds Steady, Oil Consolidates<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">FX Market: The U.S. dollar index moved narrowly as traders weighed shutdown risks against diverging policy paths between the Fed and ECB.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Oil Market: Crude prices remained rangebound, caught between OPEC+ supply expectations and U.S. inventory drawdowns, with no clear short-term direction.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Today\u2019s focus<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">U.S. Government Shutdown Developments: If the deadlock persists, Friday\u2019s scheduled nonfarm payrolls report will be delayed, adding to uncertainty.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Fed Speeches: Remarks from Fed officials including John Williams and Raphael Bostic could offer clues on policy direction in a shutdown environment.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">U.S. September Nonfarm Payrolls (TBD): If released, key metrics will be job growth, unemployment rate, and wage trends.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Eurozone PPI Data: Offers insight into inflation pass-through, influencing ECB policy expectations.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Corporate Earnings: Reports from consumer giants such as PepsiCo will shed light on demand resilience.<\/h2>\n<\/blockquote>","protected":false},"excerpt":{"rendered":"<p>October 3, 2025 \u2013 The U.S. government shutdown entered its third day, with economic data releases disrupted, heightening market uncertainty. Major U.S. equity indices showed divergence: chip stocks drove the Nasdaq to an intraday record high, while the Dow Jones and S&amp;P 500 turned lower. Pharmaceutical stocks, after a strong rally, retreated, while Chinese ADRs [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":2395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[8],"tags":[],"class_list":["post-2394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/posts\/2394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/comments?post=2394"}],"version-history":[{"count":1,"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/posts\/2394\/revisions"}],"predecessor-version":[{"id":2397,"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/posts\/2394\/revisions\/2397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/media\/2395"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/media?parent=2394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/categories?post=2394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/pt\/wp-json\/wp\/v2\/tags?post=2394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}