Opening Comment — Tuesday, October 14, 2025
DJIA: 46,067.58, up 587.98
S&P 500: 6,654.72, up 102.21
NASDAQ: 22,694.61, up 490.18
Stocks lower ahead of comments from Powell
Stock futures are lower Tuesday morning ahead of today’s comments from Federal Reserve (Fed) Chair Jerome Powell and other Fed members. Meanwhile, a reading of small business optimism decreased more than expected in September. As of 7:19 AM ET, the Dow is decreasing 0.6%, while the S&P 500 is down 1.0%. The Nasdaq 100 is falling 1.3% relative to fair value on the GLOBEX.
U.S. equities were higher on Monday as Market concerns about further tariffs on China eased following a softened stance from President Donald Trump on Sunday, while investors continued to await further developments on a potential resolution to the ongoing government shutdown. The Dow was up 1.3%, while the tech-heavy Nasdaq Composite rose 2.2%. The S&P 500 increased 1.6% with nine of 11 sectors finishing in positive territory. The Information Technology sector was the top performer, rising 2.5%, while the Consumer Staples sector was the bottom performer, falling 0.4%.
On the data front, the National Federation of Independent Business’s gauge of small business optimism decreased to 98.8 in September from the prior month’s 100.8.
Across the pond, European stocks are lower in mid-day trading as the U.K.’s three-month average unemployment rate and average weekly earnings growth year-over-year (YOY) rose to 4.8% and 5.0%, respectively, through August. Meanwhile, the country’s jobless claims rose, and the claimant count rate increased in September, following a downward revision to the previous month’s figures. The ZEW measures of economic growth expectations declined for the eurozone but rose for Germany in October.
Overnight in Asia, stocks were mostly lower as National Australia Bank’s measure of business confidence rose in September. Japan’s M2 money supply (a measure of the total amount of money in circulation) increased by 1.6% YOY in September, while M3 (a broad measure of the money supply) grew by 1.0%.
In FOREX trading, the dollar is higher ahead of Fed Chair Jerome Powell’s comments later today.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 3.0% lower at $57.73/barrel.
In the metals complex, gold is 0.6% higher at $4,134.31/ounce despite a strengthening dollar.
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