US open: Stocks lower as traders digest data, shutdown risks
By Iain Gilbert
Date: Thursday 25 Sep 2025
(Sharecast News) - Wall Street trading began with losses at the opening bell on Thursday, as traders digested a number of data points and kept an eye on political developments in Washington.
As of 1445 BST, the Dow Jones Industrial Average was down 0.17% at 46,040.85, while the S&P 500 shed 0.59% to 6,598.78 and the Nasdaq Composite came out of the gate 0.93% weaker at 22,289.19.
The Dow opened 80.43 points lower on Thursday, extneding losses recorded in the previous session as indices retreated from recent records amid mounting concerns about a potential government shutdown and elevated valuations.
Jobless claims data was in focus early on Thursday, with the Labor Department revealing that Americans had lined up for unemployment benefits at a decelerated pace last week, marking the lowest figure in two months.
Initial jobless claims dropped by 14,000 to a seasonally adjusted 218,000 in the week ended 20 September, better than consensus forecasts of a rebound to 235,000, while continuing claims, which track those still receiving benefits, dropped by 2,000 to 1.926m, the lowest level since late May. The four-week moving average, which aims to strip out week-to-week volatility, came to 237,500, down by 2,750 from the previous week's upwardly revised print. The insured unemployment rate held steady at 1.3%. The data helped ease fears of a sharp downturn in the labour market, following a string of downbeat jobs reports that had prompted the Federal Reserve to resume rate cuts despite lingering inflationary pressures.
Federal Reserve chairman Jerome Powell said earlier in the week that signs of labour market weakness were now outweighing concerns about persistent inflation, contributing to the Federal Open Market Committee's recent decision to cut rates for the first time this year.
Today's jobless claims release also comes ahead of Friday's PCE inflation data, the central bank's preferred price gauge, which could further shape expectations for the November policy meeting.
Elsewhere on the macro front, the US economy expanded at a faster pace than previously estimated in the second quarter, according to revised figures released by the Bureau of Economic Analysis on Thursday. Gross domestic product rose at an annualised rate of 3.8% in the three months to June, up from the prior estimate of 3.3%, with the upgrade driven by stronger consumer spending and a decline in imports. Economists polled by Reuters had expected no change to the initial reading. The BEA said growth was also supported by increased investment in intellectual property products, particularly in artificial intelligence, as businesses continued to ramp up digital capabilities.
On another note, orders for goods made to last more than three years bounced back last month, amid a surge in aircraft orders. According to the Department of Commerce, in seasonally adjusted terms, orders grew at a month-on-month pace of 2.9% in August to reach $312.06bn. Economists had anticipated a dip of 0.5% over the month. July's drop in orders was revised up from -2.8% to -2.7%. Excluding defence, orders were up by 1.9% and if transportation sectors are stripped out by a more muted 0.4%. In annual terms, total new durable goods orders were ahead by 7.1%.
Still on data, the US goods and services trade deficit narrowed sharply in August, according to preliminary figures released by the Census Bureau on Thursday. The deficit fell 16.8% month-on-month to $85.5bn, coming in below analyst expectations, as a steep drop in imports more than offset a modest decline in exports. Imports fell by $19.6bn from July to $261.6bn, while exports slipped by $2.3bn to $176.1bn. Separately, wholesale inventories edged 0.2% lower in August to an estimated $905.2bn, suggesting businesses may be trimming stock levels amid macroeconomic uncertainty and tighter financial conditions.
Up next, existing home sales figures were slated for release at 1500 BST, and the Kansas Fed's September manufacturing index will follow at 1600 BST.
In the corporate space, Intel traded higher following reports that the chipmaker had approached Apple regarding a potential investment. According to Bloomberg, Intel has sought backing from the iPhone maker as it looks to bolster its position in the semiconductor space. However, the report did not specify the size or structure of the proposed investment, nor whether Apple had responded to the approach.
Costco will report earnings after the close of trading.
Traders also continued to monitor political developments in Washington, with the threat of a government shutdown adding to the broader risk backdrop.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $31.22 6.41%
Microsoft Corp. (MSFT) $510.15 0.18%
Dow Jones - Fallers
Amgen Inc. (AMGN) $286.81 -2.65%
Apple Inc. (AAPL) $252.31 -0.83%
Cisco Systems Inc. (CSCO) $67.54 -0.33%
S&P 500 - Risers
Xcel Energy Inc. (XEL) $77.93 6.69%
Intel Corp. (INTC) $31.22 6.41%
Ross Stores Inc. (ROST) $149.43 2.57%
eBay Inc. (EBAY) $93.36 2.53%
QUALCOMM Inc. (QCOM) $173.55 2.37%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $535.56 2.10%
Apache Corp. (APA) $24.42 1.79%
Microchip Technology Inc. (MCHP) $65.98 1.76%
Diamondback Energy Inc. (FANG) $144.61 1.71%
Regeneron Pharmaceuticals Inc. (REGN) $576.98 1.60%
S&P 500 - Fallers
TripAdvisor Inc. (TRIP) $16.97 -7.42%
Illumina Inc. (ILMN) $94.41 -4.99%
Synopsys Inc. (SNPS) $468.09 -4.53%
Electronic Arts Inc. (EA) $167.35 -3.86%
Idexx Laboratories Inc. (IDXX) $648.22 -3.27%
Ipg Photonics Corp. (IPGP) $79.13 -3.14%
Take-Two Interactive Software Inc. (TTWO) $251.28 -2.85%
Micron Technology Inc. (MU) $161.71 -2.82%
Lam Research Corp. (LRCX) $128.32 -2.74%
Amgen Inc. (AMGN) $286.81 -2.65%
Nasdaq 100 - Risers
Intel Corp. (INTC) $31.22 6.41%
Baidu Inc. (BIDU) $132.92 5.85%
JD.com, Inc. (JD) $34.83 5.74%
Tesla Inc (TSLA) $442.79 3.98%
Ross Stores Inc. (ROST) $149.43 2.57%
eBay Inc. (EBAY) $93.36 2.53%
QUALCOMM Inc. (QCOM) $173.55 2.37%
Qvc Group Inc Series A (QVCGA) $13.42 2.26%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $535.56 2.10%
Microchip Technology Inc. (MCHP) $65.98 1.76%
Nasdaq 100 - Fallers
Illumina Inc. (ILMN) $94.41 -4.99%
Synopsys Inc. (SNPS) $468.09 -4.53%
Electronic Arts Inc. (EA) $167.35 -3.86%
Idexx Laboratories Inc. (IDXX) $648.22 -3.27%
Take-Two Interactive Software Inc. (TTWO) $251.28 -2.85%
Micron Technology Inc. (MU) $161.71 -2.82%
Lam Research Corp. (LRCX) $128.32 -2.74%
Amgen Inc. (AMGN) $286.81 -2.65%
Cadence Design Systems Inc. (CDNS) $356.96 -2.55%
Adobe Systems Inc. (ADBE) $353.27 -2.35%
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