Corporate headlines boost momentum as major indexes close the quarter strong
US stocks ended Tuesday’s session higher, as investors brushed off mounting concerns about an imminent government shutdown to close out the strongest September performance in more than 10 years.
The Dow Jones Industrial Average rose 81.82 points, or 0.18%, to finish at 46,397.89, setting a new closing record, CNBC reported. The S&P 500 gained 0.41% to close at 6,688.46, while the tech-heavy Nasdaq Composite advanced 0.31% to 22,660.01.
Quarter ends on a high note
The Nasdaq and S&P 500 both posted their best third quarter since 2020 and their strongest September since 2010, Yahoo Finance reported. The S&P 500 climbed more than 3% for the month, defying its historical trend of a 4.2% average decline each September over the past five years.
For the quarter, the S&P 500 gained nearly 8%, while the Nasdaq surged more than 11%. The Dow advanced more than 5% since the end of June.
The federal government faces a funding deadline at 12:01 am ET Wednesday, with the odds of a shutdown at roughly 93%, according to prediction platform Polymarket. “Nothing is inevitable, but I would say it’s probably likely,” president Donald Trump said Tuesday.
Data blackout looms
Wall Street’s main concern is the halt of economic data releases in the event of a shutdown. The Department of Labor said the Bureau of Labor Statistics would “completely cease operations,” likely delaying Friday’s closely watched non-farm payrolls report.
“The totality of the data plus the policy standoff in Washington is creating a much greater degree of difficulty for the Fed to stick the landing here,” Joe Brusuelas, chief economist at RSM, told Yahoo Finance. “They’re going to have a hard time discerning what’s what ahead of the Oct. 28–29 policy meeting.”
Economic data disappoints
Consumer confidence fell in September as Americans worried about inflation and future job availability. The Conference Board’s Consumer Confidence Index fell 3.6 points to 94.2 from 97.8 in August, missing the consensus forecast of 96.0. The September reading was the lowest since April.
“Consumer confidence weakened in September, declining to the lowest level since April 2025,” said Stephanie Guichard, senior economist at The Conference Board, according to Yahoo Finance.
Job openings edged higher by 19,000 to 7.23 million in August, in line with forecasts, while the number of quits remained steady at 3.1 million.
Corporate developments
Pfizer shares jumped more than 6% after the company announced a “historic” deal with the Trump administration to cut drug prices. Americans will be able to buy medications at an average discount of 50% through a new direct-to-consumer website called TrumpRx.
Robinhood extended its rally, climbing 4.72% and pushing its year-to-date gain to 280%. CEO Vlad Tenev said a short-selling feature will be introduced soon, according to Yahoo Finance.
Alphabet is on track for its strongest quarter in 20 years, rising 35% since July 1, its best performance since 2005.
