Equity Alert
US indices down on profit booking; US jobless claims data eyed
This story was originally published at 08:17 IST on 25 September 2025
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Equity Alert: US indices down on profit booking; US jobless claims data eyed
MUMBAI--0737 IST--Equity indices in the US closed lower for the second straight session Wednesday as market participants likely booked profits after US Federal Reserve Chair Jerome Powell's comments on stocks being "highly valued". Market participants will wait for US weekly jobless claims data later on Thursday to gauge the trajectory of further interest rate cuts by the US Fed.
Artificial intelligence stocks in the US came under selling pressure with Nvidia and Oracle leading the tech-heavy Nasdaq Composite Index to end 0.3% lower. "Tech is probably a little bit extended...there's no real reason to be bullish. I would not say, 'Oh, nobody's going to use AI and the world is coming to an end,' but it's clearly valuation," Jay Hatfield, CEO of Infrastructure Capital Advisors, was quoted by CNBC as saying. Wednesday, shares of Nvidia fell nearly 1% and those of Oracle closed nearly 2% lower. Oracle is looking to raise $18 billion in debt to finance its cloud infrastructure, according to a report by Reuters.
Shares of Intel were up more than 6% after media reports said the chipmaker was looking for investment from Apple. Previously, Nvidia had said it would invest $5 billion in Intel.
Among other stocks, shares of Micron Technology fell nearly 3?spite the company's quarterly revenue beating market estimates. The company's management said the growth in sales was aided by strong demand for the company's high-bandwidth memory chips. Shares of mining company Freeport-McMoRan tumbled 17?ter it declared it was halting operations at the Grasberg mine in Indonesia. According to a Reuters report, the miner expects consolidated sales of gold and copper to be lower in the coming quarter. Shares of Lithium Americas closed sharply higher after a Reuters report claimed that the US government might acquire 10% stake in the company.
The S&P 500 ended 0.3% lower and the Dow Jones Industrial Average slipped 0.4%. Traders will wait for inflation data according to the personal consumption expenditures index on Friday.
Following are the closing levels of US indices Wednesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6637.97 |
(-)0.28 |
|
NASDAQ Composite |
22497.86 |
(-)0.33 |
|
Dow Jones Industrial Average |
46121.28 |
(-)0.37 |
(Eshitva Prakash)
End
US$1 = INR 88.69
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Nishant Maher
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