Record Highs, AI Hype, and a Shutdown: Key Takeaways from U.S. Stock Markets (Oct 3–4, 2025)
The S&P 500 and Dow closed at record highs Friday, with the Dow up 0.5% despite a third day of the U.S. government shutdown. The September jobs report was delayed, but traders expect a Fed rate cut in late October. Utilities and health insurers led gains, while tech stocks lagged. Palantir dropped 7.5% after a U.S. Army memo flagged security issues; Applied Materials fell 3% on China export curbs.