US Stock Market Close on October 1: On the final trading day of September, the three major US stock indices ended mixed, with the Dow falling 440 points. Top 20 by trading volume on October 1: Apple rose over 1% as it makes a major push into the smart home market, planning to launch a smart home control hub product. Most popular Chinese concept stocks rose on October 1, with JD.com, Beike, and Li Auto up over 1%, and BOSS Zhipin up over 4%. European stocks recorded their worst monthly performance since March as interest rate concerns intensified.

Macro

Trump: The last batch of US troops is about to withdraw from Iraq. The Federal Reserve Inspector General found errors in the renovation project but no grounds for criminal referral. The Fed's preferred inflation gauge showed August core inflation at 3.0%, far below market expectations. Bringing out the Justice Department and prosecution threats, Trump pressured Powell to resign from the Federal Reserve Board of Governors. Trump: If Powell does not resign from the Fed Board of Governors, he should be prosecuted. A survey shows Japan will face a new wave of price increases in October. The Senate is expected to vote on a ban on stock trading by lawmakers and a data center-related bill before the election recess. The UK Prime Minister said Iran may have been involved in the security incident at RAF Fairford air base.

Companies

Paramount issued investment-grade bonds to raise $30 billion for the acquisition of Warner Bros. Micron's quarterly revenue outlook beat Wall Street expectations as the AI construction wave boosts demand for memory chips. Micron's Q4 revenue exceeded $54.2 billion in a single quarter, with a forecast of continued supply shortages in memory from 2027-2028. Google launched its most advanced AI model, Gemini 4 Argon. Google released the frontier model Gemini 4 Argon, which will be launched as soon as safety is ensured. Meta's stock price posted its best monthly performance since 2022 due to AI momentum. The US Federal Trade Commission is investigating OpenAI, Anthropic, and other AI companies over product risks.

Commentary

Goldman Sachs delayed its forecast for a Fed rate hike from October to December. Deutsche Bank's CEO warned that the shift in Germany's political direction is making foreign investors uneasy. European bond market: German government bonds led gains in European bonds, while French government bonds underperformed. Serbia and Russia extended their natural gas supply agreement to the end of 2026. The US extended the operating license for Serbia's oil company to October 30. Russian Foreign Ministry spokeswoman Zakharova reiterated that Japan should not become a permanent member of the UN Security Council. Trump's chief technology advisor: AI companies agreed to accept external audits. The US dollar recorded its best monthly performance since March as the Fed's anti-inflation stance pushed up rate expectations. When asked about pressuring Powell to resign from the Fed Board of Governors, Trump said Warsh will "do things his own way." October 1 international headlines: Trump says the last batch of US troops is about to withdraw from Iraq, Google launches Gemini 4 Argon, Micron's single-quarter revenue exceeds $54 billion. US stock market: The S&P 500 recorded its worst monthly performance since June as interest rate concerns linger. Global bond markets posted their worst quarterly performance since 2024 as investors worry about inflation. Crude oil: Oil prices remain near $100 as Middle East oil supply is estimated to be close to pre-war levels. Fed Governor Cook: Committed to bringing inflation back to the 2% target. Lagarde said she does not rule out stepping down as ECB President several months early. The Fed's internal watchdog: No criminal wrongdoing found in the headquarters building renovation project.