Wall Street Today: Dow, Nasdaq open higher as investors shrug off US govt shutdown concerns; S&P 500 hits record high

Wall Street Today: The US benchmark indices, like the Dow Jones, Nasdaq, etc., opened higher due to the technology stocks fueling the gains as the investors ignored the concerns looming over the second day of the US government shutdown, reported the news agency AP on Thursday, 2 October 2025.

On the opening bell, the S&P 500 rose 0.3%, hitting its latest all-time high, while other indices like the Nasdaq Composite also rose 0.5%, and the Dow Jones Industrial Average gained 0.2%.

According to the agency report, the shutdown of the US government is not hurting the economy or the stock market.

How are the US stocks performing?

The US stocks in the chipmaking and artificial-intelligence (AI) industries jumped after OpenAI announced partnerships with South Korean companies for Stargate, a $500 billion project aimed at building AI infrastructure, according to the agency report.

Shares of Samsung Electronics rose 3.5% in Seoul, and SK Hynix jumped 9.9%.

The announcement also sent ripples around the world. On Wall Street, Advanced Micro Devices climbed 3.5%, and Broadcom gained 2.5%. Taiwan Semiconductor Manufacturing Co., a major chip manufacturer, saw its stock, which trades in the United States, rise 1.2%.

Excitement around AI and the massive spending underway because of it has been a major reason the US stock market has hit record after record, along with hopes for easier interest rates. However, AI stocks have become so dominant, and a significant amount of money has poured into the industry, that concerns are rising about a potential bubble that could ultimately lead to disappointment for investors.

Occidental Petroleum fell 2.3% after it agreed to sell its chemical business, OxyChem, to Berkshire Hathaway for $9.7 billion in cash. It could be the final big purchase for Berkshire Hathaway with famed investor Warren Buffett as its CEO.

Fair Isaac jumped 22.2% after announcing a program that will allow mortgage lenders to access and distribute FICO credit scores directly to their customers, thereby cutting out major credit bureaus such as TransUnion, Equifax, and Experian.

TransUnion’s stock tumbled 11.9%, while Equifax slid 10.2%. The stock of the United Kingdom’s Experian fell 3.6% in London.

London’s FTSE 100 edged down by less than 0.1%, but indexes were much stronger across Europe and Asia. South Korea’s Kospi jumped 2.7% for one of the biggest gains following the big jumps for Samsung Electronics and SK Hynix.

In the bond market, the yield on the 10-year Treasury ticked down to 4.11% from 4.12% late Wednesday.

(With agency inputs from AP)

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