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Nasdaq and S&P 500 hit intraday records and closed higher Oct 2, 2025. Tesla beat delivery estimates while gold hit a record $3,895.23.
The Nasdaq Composite and S&P 500 hit intraday records and closed higher on October 2, 2025, as investors looked past a government shutdown and weak labor data to bet on Federal Reserve rate cuts [1].
| At a glance | |
|---|---|
| Nasdaq Close | +0.39% |
| S&P 500 Close | +0.06% |
| Tesla Q3 Deliveries | 497,099 vs. 439,612 est. |
| Gold Spot Price | $3,895.23 (Record) |
The Nasdaq Composite (+0.39%) and S&P 500 (+0.06%) both touched intraday highs before settling for modest gains, while the Russell 2000 (+0.61%) outperformed major indexes [1]. This strength materialized despite a government shutdown that has furloughed approximately 750,000 employees and a report from Challenger, Gray & Christmas indicating U.S. employers planned the fewest job additions since 2009 [1]. Employers have planned just 204,939 job additions this year, less than half of last year's total, while job cuts approached one million [1]. Gold prices surged in tandem with equities, with spot hitting a record $3,895.23 [1].
Specific corporate news drove significant volatility in individual names. Tesla delivered 497,099 vehicles in the third quarter, vastly beating analyst expectations of 439,612 and marking its best quarter ever, though production of 447,450 vehicles slightly missed forecasts [1]. EV competitor Rivian also delivered 13,201 vehicles against estimates of 12,955 [1]. In the credit sector, Fair Isaac (FICO) surged 20% after launching a new pricing option for mortgage lenders, a move that sent competitors TransUnion and Equifax down more than 8% each [1]. Elsewhere, AeroVironment jumped 18.8% after posting fiscal first-quarter revenue of $641.6 million [2].
| Metric | Actual | Estimate |
|---|---|---|
| Tesla Q3 Deliveries | 497,099 | 439,612 |
| Tesla Q3 Production | 447,450 | 450,313 |
| Rivian Q3 Deliveries | 13,201 | 12,955 |
The market's ability to post record highs amid a shutdown and slowing hiring plans suggests investors are prioritizing expectations for monetary easing over immediate economic friction.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 4, 2026 · How we report
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