As of midday Wednesday, Bitcoin price climbed above $113,800, while the S&P 500 and Nasdaq both experienced minor declines.
Summary
- Major U.S. indexes experienced slight drops: Nasdaq -0.53%, S&P 500 -0.37%, Dow Jones -0.17%.
- Alibaba’s stock rose by 7.34% following an announcement to increase its $50 billion AI investment, fueling optimism for AI stocks.
- Micron’s shares fell by 3.9% despite exceeding earnings expectations, while gold prices remained at record highs, and cryptocurrencies showed little movement.
- Bitcoin was trading near the $113,800 mark as of the latest update.
Wall Street seemed to be in a positive mood, especially after Alibaba’s announcement to surpass its initial $50 billion AI investment, leading to a 7.34% increase in its stock. Alibaba’s stock had surged by over 9% before the market opened, with investors excited about the company’s push into artificial intelligence to stay competitive.
However, Micron Technology saw a 3.9% decline despite outperforming earnings expectations. Meanwhile, gold prices stayed at record levels, but major cryptocurrencies, including Bitcoin, didn’t experience significant movement.
Wall Street Turns Focus to Inflation Data
In addition to market movements, investors are keeping a close eye on inflation data. Federal Reserve Chair Jerome Powell recently spoke following a 25 basis point interest rate cut by the U.S. central bank. While investors are anticipating additional cuts in 2025, Powell’s comments reflected a cautious stance, especially as stocks are now considered “fairly highly valued.”
Though major indexes are approaching record highs, Wall Street’s attention is shifting to the upcoming release of the Personal Consumption Expenditures (PCE) index, which is the Fed’s preferred inflation measure. The new PCE report will be released on Friday, September 26, 2025, and investors are particularly focused on any data that could affect anticipated interest rate adjustments.
