Fed chair cites dual risks over jobs, inflation as politics loom
Stock Market Today: U.
Stock Market Today: U.S. stocks dip; Dollar Index rises after strong economic data reports
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Thursday, September 25, 2025
U.S. equities have fallen for the past two days, and from the looks of the market so far, we're on track for a third down day. The economic data are to blame; a slew of reports came in hot. Durable goods rose 2.9% month-over-month, Q2 GDP was shown to grow 3.8% quarter-over-quarter, and even Initial jobless claims were lower than expected. That trifecta pushed the dollar Index to its highest point in three weeks.
For the bulls the reports put hopes that the Federal Reserve will speed up its pace of interest-rate cuts more in question. As such, stock traders are pricing in new assumptions. The growth-flavored Russell 2000 (-1.14%) is faring worst, followed by the S&P 500 (-0.31%), Nasdaq (-0.21%) and Dow (-0.1%).
At the same time, stocks are barely 1% off record highs, so the bulls don't yet need to yell that the sky is falling. Likewise, there's no reason for the bears who swore by "sell the Fed news" to get too comfortable with a small dip.
This evening, investors are likely to stick around for the biggest report of the week: warehouse-club retailer Costco's fiscal fourth quarter, which might offer some fresh color on the state of the consumer.
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