Stock market recap: Nasdaq Composite dips as Asia retreats, Dow nears record

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Nasdaq Composite dips as Asia retreats

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Global indexes

- S&P 500: 6,735.35 (+0.003%),

- Nasdaq Composite: 22,953.67 (-0.16%),

- Dow Jones Industrial Average: 46,924.74 (+0.47%),

- FTSE 100: 9,509.22 (+0.87%),

- Nikkei 225: 49,307.79 (-0.17%),

- Hang Seng: 25,781.77 (-0.94%),

- Shanghai Composite: 3,913.76 (-0.66%)

U.S. markets

Futures on the Dow edged up while S&P 500 and Nasdaq 100 hovered near flat, a pause after the Dow pierced 47,000 intraday Tuesday before settling just below a record close. Investors parsed a mixed earnings tape:

Netflix slid in after-hours trading following a weaker update, whereas Intuitive Surgical surged on stronger results; Coca-Cola’s earlier beat had helped buoy sentiment.

With the VIX firmer, traders were reluctant to extend risk ahead of the CPI release expected Friday, which could shape expectations for a 25-basis-point Fed cut in October and potentially another in December. The day’s watchlist centers on Tesla’s post-close update and guidance on margins and unit growth.

European markets

European stocks were mixed, with the Stoxx 600 marginally lower as earnings headlines competed with macro signals.

The FTSE 100 outperformed after U.K. data showed consumer prices rising 3.8% year over year in September, softer than expected, while input prices fell 0.1% and output prices were flat—figures that eased sterling and supported large-cap exporters.

Germany’s DAX and France’s CAC 40 drifted lower amid caution around U.S.–China trade and a crowded results calendar across sectors from industrials to healthcare. Stock-specific moves included gains for U.K. property and staples and weakness in cyclicals exposed to global trade.

Asian markets

Asia retreated from recent highs as geopolitics and uneven U.S. earnings sapped momentum.

The Nikkei 225 finished little changed after erasing early losses, helped by reports of a forthcoming stimulus package; the Hang Seng fell 0.94% on renewed tariff risk and semiconductor exposure; and the Shanghai Composite slipped with sentiment chilled by uncertainty over a Trump-Xi meeting.

Regional risk appetite, buoyed earlier by Wall Street’s AI-led advance, faded as traders weighed headline risk against elevated valuations. Market commentary also flagged a stabilization in precious metals after Tuesday’s outsized move.

Summary conclusions

With equities near records in the U.S. and softer in Europe and Asia, the week’s setup hinges on earnings quality, the CPI print, and tariff rhetoric.

A benign inflation reading would validate expectations for an October Fed cut and support broader risk assets, but heightened sensitivity to mega-cap guidance and policy headlines leaves indices vulnerable to air pockets.

Near term, leadership may favor defensives and cash-flow compounders as investors navigate shutdown-era data gaps and the season’s heaviest reporting days. The path of U.S.–China negotiations—and any spillover into chips—remains a key swing factor for global sentiment.

In an earlier report, we noted that Nvidia stock slips 1.1% despite surging demand for Blackwell chips.

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