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The S&P 500 Index ($SPX) rose by 0.56% on September 26, 2025, driven by stronger-than-expected consumer spending and tame core inflation. August personal spending increased by 0.6% month-over-month, surpassing expectations of 0.5%, while personal income rose by 0.4%, again above the anticipated 0.3%. The August core PCE price index, the Federal Reserve’s preferred inflation gauge, rose 0.2% month-over-month and 2.9% year-over-year, aligning with forecasts.
U.S. semiconductor stocks surged after reports indicated the Trump administration is considering measures to reduce dependence on overseas chips. Notable gains included GlobalFoundries, which rose more than 9%, and Intel, which increased by over 4%. Additionally, pharmaceutical stocks are climbing, following analysis suggesting that proposed tariffs on drug imports could benefit U.S.-based manufacturers.
The financial market is closely monitoring developments as the potential for a U.S. government shutdown looms on October 1 unless spending bills are passed. Currently, there is an 86% probability of a 25 basis point rate cut at the next Federal Open Market Committee meeting scheduled for October 28-29.
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