On Monday, September 22, 2025, U.S. stock markets experienced a slight pullback after reaching record highs the previous Friday. The S&P 500 edged down by 0.1%, the Dow Jones Industrial Average declined by 103 points (0.2%), and the Nasdaq remained flat. This recent surge has been driven by investor optimism that President Trump's tariffs will not disrupt global trade and that the Federal Reserve will continue its accommodative monetary policy following its first rate cut of the year last week.
Nonetheless, the rally faces challenges, particularly if the Fed slows the pace of rate cuts due to persistent inflation exceeding its 2% target. Notable stock movements included Coinbase, which fell 2.2% but remains up 35% for the year, benefiting from increased interest in cryptocurrencies. In the mergers and acquisitions space, Pfizer announced a $4.9 billion acquisition of Metsera, causing Metsera’s stock to jump 61.9% and Pfizer’s to rise 3.1%. ODP Corporation, the parent company of Office Depot, surged 33.1% after Atlas Holdings agreed to a $1 billion buyout. Anywhere Real Estate soared 55.6% on news of a merger with Compass, although Compass shares fell 8.5%.
Global markets showed mixed results, and Treasury yields remained mostly steady, with the 10-year yield at 4.13%.
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