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Informist, Friday, Sept. 26, 2025                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices dn; rate cut uncertainty grows on labour, GDP data

 

MUMBAI--0740 IST--Stock indices in US closed lower Thursday after better than expected jobless claims data and an upward revision to US GDP growth for the June quarter complicated the US Federal Reserve's interest rate decision. Traders' expectations of another 25-basis-point cut at the central bank's October meeting are now at 86%, down from about 92% Wednesday, according to the CME FedWatch tool. 

 

First-time filings for jobless benefits were at a seasonally adjusted 218,000 for the week ended Sept. 20, according to the US Labor Department. The jobless claims are below the 235,000 that economists polled by Dow Jones had estimated and 14,000 less than the previous week's revised initial unemployment claims.

 

US GDP expanded at a revised 3.8% rate in the June quarter, the fastest since the third quarter of 2023, the US Commerce Department said in its final GDP estimate. Previous data had shown 3.3% GDP growth for the same quarter. Analysts polled by Reuters had maintained that the GDP growth would be unrevised. 

 

The S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average closed lower for the third consecutive session. Shares of Oracle fell 5.6% as traders continued to be cautious about artificial intelligence-related companies. Among other laggards, shares of Tesla fell more than 4%.

 

Shares of Intel jumped nearly 9?ter The Wall Street Journal reported that Intel had approached Taiwan Semiconductor Manufacturing Company about investments in manufacturing or partnerships. Shares of consulting firm Accenture fell nearly 3?spite the company's quarterly top line growth exceeding expectations. Shares of CarMax fell 20.1?ter the used-car retailer reported a lower June quarter profit. 

 

US President Donald Trump Friday announced 100% tariffs on branded and patented pharmaceutical products, effective Oct. 1. The fresh levies will not be applicable for companies that have started constructing their manufacturing plants in the US, Trump said on social media platform Truth social.

 

Following are the closing levels of US indices Thursday:

 

Index	Level	Change in %
S&P 500	6604.72	(-)0.5
NASDAQ Composite	22384.70	(-)0.5
Dow Jones Industrial Average	45947.32	(-)0.38

 

(Eshitva Prakash)

 

End

 

US$1 = INR 88.67

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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