Stock market news of October 9, 2025

THE S&P500 And Nasdaq Composite Both indexes retreated from new all-time intraday highs on Thursday, with both indexes taking a breather from their gains from the previous session as the U.S. government shutdown continues.

The general market index fell 0.28% to close at 6,735.11, while the technology index slipped 0.08% to end at 23,024.63. At their highs of the day, the S&P 500 rose 0.2% and the Nasdaq rose 0.1%. THE Dow Jones Industrial Averagemeanwhile, fell 243.36 points, or 0.52%, to close at 46,358.42.

The S&P 500 and Nasdaq were both coming off a record session on Wednesday, with the former earning its eighth winning day out of the last nine and the latter finishing above the 23,000 mark for the first time ever. THE Dowon the other hand, finished slightly below the level on Wednesday as blue-chip stocks lagged. But Nvidia helped the 30-stock index limit its losses, rising more than 2% in the previous session after CEO Jensen Huang told CNBC that IT demand had “increased significantly” this year.

“Clearly, the market has been on a relentless surge since the April crashes that continue to show signs that some believe the stock market is overheated, calling for some sort of respite at a time when the classic buy-the-dip strategy continues to remain firmly in place,” said David Wagner, head of equities at Aptus Capital Advisors. “This market continues to crash. It’s just a behind-the-scenes rotation that can cause some intraday volatility or effect.”

Software provider Oracle was a positive point on Thursday, alongside its compatriot Nvidia, which reached a new all-time high. The two stocks rose 3% and almost 2%, respectively. The pair suffered losses earlier this week after a report said Oracle’s cloud business was suffering lower margins due to difficulties leasing Nvidia chips.

“The market is trying to dissect or decipher which partnerships are going to generate the best return on invested capital, and you’re seeing a rotation among some of these players who seem to have this theme of circularity,” Wagner also said.

Investors were paying attention to the latest developments related to the current government shutdown, which entered its ninth day on Thursday. The Senate failed for the seventh time to pass conflicting funding proposals, with few signs that Republicans and Democrats are making progress in negotiations. On Wall Street, people are waiting to see if the shutdown will affect the U.S. economy, and some impacts may have already started to materialize.

On Wednesday, the IRS announced it would furlough nearly half of its workforce due to the shutdown. Additionally, the shortage of air traffic controllers has led the Federal Aviation Administration to delay U.S. flights.

Delta Airlines CEO Ed Bastian told CNBC on Thursday that while he had seen “no impact” from the shutdown, “some impacts” could start to appear “if this is not resolved, say beyond ten days.” The stock was a winner during Thursday’s session, jumping 4% on better-than-expected earnings.

Costco was another winner of the day, with shares rising 3% after the big-box retailer reported strong sales data for the month of September. Tom Hainlin of US Bank Asset Management says the Delta and Costco reports demonstrate consumer resilience in an uncertain macroeconomic environment.

“You can kind of see in real time if there’s an inflection point in what consumers are doing, and we haven’t seen that yet,” the firm’s national investment strategist told CNBC.