Monday, Sept 29, 2025
The market closed on a bullish note today despite the looming threat of a government shutdown.
- The market opened strong, and the government shutdown looms large.
- Stocks of the pharmaceutical company Tilray soar after President Trump posts a video.
- Alibaba promises increased investment in AI infrastructure, and its stock rises.
The S&P 500 was up 0.3%, rallying on a surge from Robinhood and a turnaround from Nvidia.
The Nasdaq Composite and Dow Jones Industrial Average closed 0.5% and 0.2% higher, respectively.
The Russell 2000 fell during early trading hours but closed 0.04% higher.
Alibaba, which has been gaining traction in AI demands, was up 4.7%, while Tilray, a pharmaceutical company, soared 60.9% today.
Novo Nordisk, maker of weight loss drug Ozempic, slipped 0.2% after an analyst downgrade.
Getty/TheStreet
The US stock market is awaiting the impending impact of a probable government shutdown, effective October 1, if the ongoing congressional negotiations do not result in a settlement.
Democrats are demanding an extension of the healthcare subsidy, and congressional action will only occur if the Democrats and Republicans can negotiate a deal.
A likely shutdown may result in significant layoffs in the federal government.
Here are the stocks that made the biggest market moves today
Five S&P 500 stocks making big moves today are:
- Robinhood Markets Inc HOOD: +12.3%
- Western Digital Corp WDC: +9.2%
- Coinbase Global Inc COIN: +6.8%
- Applovin Corp APP: +6.3%
- CSX Corp CSX: +5.4%
The worst-performing five S&P 500 stocks today are:
- William-Sonoma Inc WSM: -4.7%
- Vistra Corp : -4.5%
- Carnival Corp CCL: -3.9%
- Devon Energy Corp DVN: -3.9%
- Campbell’s Co CPB: -3.8%
Stocks also worth noting include:
- Wolfspeed : +1,726.5%
- Baidu BIDU: +2.7%.
- Electronic Arts EA: +4.5%
- PayPal PYPL: +3.5%
- Nvidia NVDA: +2.1%
Pro cannabis Trump stance sparks stock price
Cannabis industry stocks rose today after President Donald Trump posted a video on his Truth Social, which advocated cannabis as beneficial for elderly care, suggesting it be covered under Medicare.
More Health Care:
- Americans’ health insurance bills could surge by 75% next year
- Walmart forms bold new health care partnership for affordable medicine
- 25% of Americans Are Burned Out Before 30
Tilray (TLRY) , a global lifestyle and consumer packaged goods company with a significant cannabis segment, reacted optimistically to the probable legalization of cannabis at the federal level.
The company stock was up 60.9%, a 52-week high for this billion-dollar company. With a 39% year-to-date increase, investor sentiment remains optimistic about potential federal subsidies and subsequent expansion opportunities for Tilray.
The company is going through a financially challenging time, with its stock currently priced at $1.85. This surge appears temporary, as shares were trading lower after closing hours at last check.
Alibaba rides bullish analyst sentiment
There is a wave of investment in AI infrastructure, and Alibaba (BABA) , a Chinese technology infrastructure and marketing platform company, is participating.
Related: Alibaba rides wave as China sharply expands AI spending
Its stock was up 4.7% today, a 52-week high for the commerce giant. This multi-billion-dollar company has reported a 112% year-to-date increase and is expected to continue rising, according to analyst reports.
Jefferies raised the firm’s price target to $230 from $178, estimating triple-digit growth for Alibaba’s cloud-related revenue.
Bank of America raised its price target to $195 from $168 after its annual Apsara Conference. The analysts believe that Alibaba is positioned as the world’s leading full-stack artificial intelligence services provider, as reported at TheFly.
At the annual conference, the firm announced that it would exceed its previously announced $53 billion investment to develop AI infrastructure over the next three years.
Related: Ozempic creator Novo Nordisk is selling its weight loss drugs for cheaper through this new partnership
The Ozempic manufacturer suffers after downgrade
Novo Nordisk (NVO) , a Danish pharmaceutical giant, has been in the news for its role as the manufacturer of the weight loss drug Ozempic.
It reported a 0.2% loss at the close today after Morgan Stanley downgraded its price target to $47 from $59, with an Underweight rating, a downgrade from its earlier Equal Weight rating.
Stanley cited the lack of momentum in US prescriptions as the reason for its cautious outlook on the firm’s short-term growth profile, which led to the downgrade.
Related: Billionaire rings alarm with one-word AI warning
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