U.S. equity markets concluded Thursday, September 25, 2025, with a third consecutive day of declines for major indexes, as investors grappled with stronger-than-expected economic data and anticipated crucial inflation figures. The tech-heavy Nasdaq Composite (COMP) led the losses, reflecting a broader retreat in high-growth technology stocks, while the benchmark S&P 500 (SP500) and the blue-chip Dow Jones Industrial Average (DJI) also finished firmly in negative territory. This pullback signals a growing caution in the market, prompting a reassessment of valuations that had recently propelled indexes to record highs.
Current Market Indexes Performance
On Thursday, the S&P 500 (SP500) slipped approximately 0.5% to 0.6%, marking its third straight session of losses. This decline follows modest dips earlier in the week, putting the index on track for its longest losing streak in over a month, despite remaining near the all-time highs set at the beginning of the week. The Nasdaq Composite (COMP) experienced a more pronounced decline, falling between 0.6% and 1.3% as tech stocks faced significant selling pressure. The Dow Jones Industrial Average (DJI) also ended lower, shedding around 0.2% to 0.4% of its value.
The market's stumble was influenced by several economic indicators released today, including a final revision to second-quarter GDP, which was adjusted higher to a robust 3.8% annual growth rate from a previous estimate of 3.3%. Additionally, weekly jobless claims unexpectedly fell to 218,000 from 232,000 the prior week, and monthly durable goods orders rebounded. While these figures suggest a resilient U.S. economy, they also fuel concerns that the Federal Reserve may be less inclined to implement aggressive interest rate cuts, leading to uncertainty among investors. The yield on the 10-year Treasury note, a key benchmark for borrowing costs, rose to 4.17% to 4.18% from Wednesday's close, further reflecting market anxieties about inflation and monetary policy. In the cryptocurrency space, Bitcoin experienced a notable decline, falling 3% to trade below $110,000, which subsequently impacted crypto-tied stocks.
Upcoming Market Events
The financial calendar for the remainder of the week and early next month is packed with critical data releases and corporate earnings that could significantly sway market sentiment.
Friday, September 26, 2025, will be a pivotal day for investors. The highly anticipated August reading for the Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred inflation metric, will be closely watched for clues on the central bank's next policy moves. The Core PCE Price Index for September is forecast at 0.2%, following a 0.3% rise in the previous month. Alongside inflation data, Personal Spending figures for September (forecast at 0.5%) and the University of Michigan's final Consumer Sentiment and Consumer Expectations reports for September will provide further insights into consumer behavior and economic outlook. Additionally, speeches from Federal Open Market Committee (FOMC) members Governor Bowman and Atlanta Fed President Bostic are scheduled, which could offer more clarity on the Fed's stance.
Looking further ahead, the earnings season will continue to gather pace in early October with several major companies slated to report. Notable upcoming earnings announcements include NIKE (NKE) on September 30, PepsiCo (PEP) on October 9, BlackRock (BLK) on October 10, and a flurry of financial institutions like Citigroup (C), The Goldman Sachs Group (GS), Johnson & Johnson (JNJ), JPMorgan Chase & Co. (JPM), and Wells Fargo & Company (WFC) all reporting around October 14. ASML (ASML) is also scheduled to release earnings on October 15.
Major Stock News and Developments
Several prominent companies saw significant stock movements and corporate announcements today:
Intel (INTC) was a standout performer, surging approximately 9% on Thursday, building on a 6% jump from Wednesday. This rally was fueled by reports that the chipmaker has been in discussions with Apple (AAPL) regarding a potential investment. Similarly, IBM (IBM) paced the Dow, rising about 4.5% to 5% after HSBC announced a "positive trial" using IBM's quantum computers for algorithmic bond trading.
Conversely, other tech giants faced headwinds. Oracle (ORCL) shares fell more than 5%, marking their third consecutive day of declines, despite earlier surges driven by AI-related contracts. Tesla (TSLA) stock was down nearly 4%. Amazon (AMZN) slipped over 1% after agreeing to pay $2.5 billion to settle a Federal Trade Commission (FTC) lawsuit concerning allegedly deceptive subscription practices for its Prime memberships. Memory-chip maker Micron Technology (MU) saw its shares decline by 3.5%, adding to previous losses, even after reporting record quarterly sales earlier in the week.
Beyond the tech sector, Starbucks (SBUX) shares slipped almost 1% following the announcement of a restructuring plan that includes laying off 900 corporate employees and closing underperforming stores. Used car retailer CarMax (KMX) tumbled a significant 19.8% after reporting a weaker profit for its latest quarter than analysts expected, citing fewer vehicle sales and increased expectations for loan losses. Jabil (JBL) fell 6.4% despite reporting stronger-than-expected quarterly profit, a move potentially attributed to its already substantial year-to-date gains.
In the volatile cryptocurrency market, the decline in Bitcoin also impacted related stocks, with MARA Holdings (MARA) and MicroStrategy (MSTR) both down more than 8% and 7%, respectively.
Earnings Announcements After the Close
As the market closed on Thursday, several companies were scheduled to release their quarterly earnings reports, providing fresh data points for investors to analyze:
- Costco Wholesale Corporation (COST): The discount retail giant was reporting for the quarter ending August 31, 2025. Analysts had a consensus earnings per share (EPS) forecast of $5.81 and a revenue forecast of $86.08 billion.
- Concentrix Corporation (CNXC): This business services company was also reporting for the quarter ending August 31, 2025, with a consensus EPS forecast of $2.60.
- LightPath Technologies, Inc. (LPTH): Reporting for the quarter ending June 30, 2025, with a consensus EPS forecast of $-0.03.
- Tamboran Resources (TBN): The company was scheduled to announce its Q4 2025 earnings after the market closed.
These after-hours announcements will likely influence trading activity in Friday's pre-market session as investors digest the results and their implications for future performance.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.