US close: Stocks pull back from record highs as Fed split weighs

9th Oct 2025 22:52

(Sharecast News) - Major indices were in the red at the close of trading on Thursday, pulling back from all-time highs.

At the close, the Dow Jones Industrial Average was down 0.52% at 46,358.42, while the S&P 500 shed 0.28% to 6,735.11 and the Nasdaq Composite saw out the session 0.08% weaker at 23,024.63.

The Dow closed 243.36 points lower on Thursday as investors continued to digest minutes from the Federal Reserve's September meeting, which confirmed a 25-basis point rate cut and revealed a split among policymakers over the path ahead.

While some officials favoured two further cuts this year, others backed just one, amid concerns over labour market softness and persistent inflation. Despite the lack of clarity, exacerbated by the delayed September payrolls report due to the government shutdown, rate cut expectations have firmed, helping to support equity markets.

In the corporate space, Tesla traded lower after the National Highway Traffic Safety Administration had launched a preliminary investigation into nearly 2.9m vehicles equipped with its Full Self-Driving function, following dozens of reports of traffic violations and crashes. The agency said the FSD system, which still requires driver oversight, has "induced vehicle behaviour that violated traffic safety laws". Reports include vehicles running red lights and making incorrect lane changes.

In terms of earnings, PepsiCo traded higher after the snacks and beverage behemoth reported third-quarter results that beat analyst expectations, while shares in Delta Air Lines also flew higher after the airline issued strong guidance and posted Q3 numbers that came in ahead of expectations.

Costco also gained after the big-box retailer posted solid September sales figures, while iconic jeans maker Levi Strauss hiked full-year profit guidance on Thursday, but not quite enough to meet Wall Street expectations, sending shares lower in extended trading.

No data points were released on Thursday, with the ongoing Federal government shutdown stretching into its ninth day.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Salesforce.Com Inc. (CRM) $245.33 2.04%

Merck & Co. Inc. (MRK) $87.50 1.27%

Intel Corp. (INTC) $37.80 0.99%

Johnson & Johnson (JNJ) $191.08 0.73%

JP Morgan Chase & Co. (JPM) $305.53 0.49%

Goldman Sachs Group Inc. (GS) $779.92 0.44%

Coca-Cola Co. (KO) $66.33 0.38%

Amgen Inc. (AMGN) $295.43 0.27%

American Express Co. (AXP) $324.45 0.19%

Walgreens Boots Alliance, Inc. (WBA) $11.98 0.00%

Dow Jones - Fallers

Boeing Co. (BA) $216.00 -4.14%

Travelers Company Inc. (TRV) $274.42 -2.95%

Dow Chemical Co. (DOW) $22.08 -2.30%

3M Co. (MMM) $152.88 -2.00%

Home Depot Inc. (HD) $377.69 -1.59%

Apple Inc. (AAPL) $254.04 -1.56%

Nike Inc. (NKE) $68.06 -1.49%

Chevron Corp. (CVX) $151.70 -1.37%

Visa Inc. (V) $347.04 -1.23%

Verizon Communications Inc. (VZ) $40.83 -1.19%

S&P 500 - Risers

Albemarle Corp. (ALB) $96.29 5.25%

Delta Airlines Inc. (DAL) $59.57 4.29%

PepsiCo Inc (PEP) $144.71 4.23%

United Airlines Holdings Inc (UAL) $101.34 3.31%

Coty Inc. Class A (COTY) $4.45 3.25%

Costco Wholesale Corp. (COST) $942.89 3.07%

Oracle Corp. (ORCL) $296.96 2.89%

Meta Platforms Inc. (META) $733.51 2.18%

Expedia Group Inc. (EXPE) $216.81 2.07%

Salesforce.Com Inc. (CRM) $245.33 2.04%

S&P 500 - Fallers

PulteGroup Inc. (PHM) $121.36 -4.90%

D. R. Horton Inc. (DHI) $151.39 -4.58%

Advance Auto Parts (AAP) $50.32 -4.32%

PVH Corp. (PVH) $80.76 -4.20%

Stanley Black & Decker Inc. (SWK) $69.76 -4.15%

Boeing Co. (BA) $216.00 -4.14%

Mosaic Company (MOS) $33.44 -3.88%

CH Robinson Worldwide Inc (CHRW) $128.90 -3.83%

Apache Corp. (APA) $23.66 -3.82%

RTX Corporation (RTX) $162.18 -3.79%

Nasdaq 100 - Risers

Mercadolibre Inc. (MELI) $2,275.00 4.36%

Costco Wholesale Corp. (COST) $942.89 3.07%

Qvc Group Inc Series A (QVCGA) $15.03 2.52%

Meta Platforms Inc. (META) $733.51 2.18%

Expedia Group Inc. (EXPE) $216.81 2.07%

Nvidia Corp. (NVDA) $192.57 1.83%

Wynn Resorts Ltd. (WYNN) $123.55 1.63%

Netflix Inc. (NFLX) $1,231.07 1.39%

Dollar Tree Inc (DLTR) $89.02 1.35%

Applied Materials Inc. (AMAT) $220.30 1.28%

Nasdaq 100 - Fallers

Liberty Global plc Series C (LBTYK) $10.92 -4.13%

Baidu Inc. (BIDU) $132.40 -3.99%

Liberty Global plc Series A (LBTYA) $10.83 -3.90%

Cintas Corp. (CTAS) $191.75 -3.55%

Charter Communications Inc. (CHTR) $265.00 -3.42%

Skyworks Solutions Inc. (SWKS) $73.64 -3.23%

JD.com, Inc. (JD) $33.97 -2.89%

J.B. Hunt Transport Services Inc. (JBHT) $142.62 -2.68%

Comcast Corp. (CMCSA) $30.08 -2.24%

Micron Technology Inc. (MU) $192.33 -2.14%