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FILE – The New York Stock Exchange, Tuesday, Jan. 28, 2025, in New York.

AP Photo/Julia Demaree Nikhinson, File

Wall Street ticks to more records, led by technology stocks

By The Canadian Press

Published 1:08 PDT, Thu October 2, 2025

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NEW YORK (AP) — U.S. stocks edged up to more records. The S&P 500 rose 0.1 per cent Thursday. The Dow Jones Industrial Average added 0.2 per cent, while the Nasdaq composite climbed 0.4 per cent. All three set all-time highs. Technology stocks helped lead the way after OpenAI announced partnerships with South Korean companies for its Stargate artificial-intelligence infrastructure project. Fair Isaac surged to its best day in nearly three years after unveiling a program where customers can access FICO credit scores and bypass big credit bureaus. Stock indexes rose across much of Europe and Asia. Treasury yields eased in the bond market.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

NEW YORK (AP) — U.S. stocks are ticking toward more records on Thursday as technology stocks keep rising and as Wall Street keeps ignoring the shutdown of the U.S. government.

The S&P 500 rose 0.1 per cent, coming off its latest all-time high. The Dow Jones Industrial Average was up 117 points, or 0.3 per cent, with a little less than an hour remaining in trading, and the Nasdaq composite was up 0.5 per cent and on track for its own record.

Thursdays on Wall Street typically have investors reacting to the latest weekly tally of U.S. workers applying for unemployment benefits. But D.C.’s shutdown means this week’s report on jobless claims has been delayed. An even more consequential report, Friday’s monthly tally of jobs created and destroyed across the economy, will likely also not arrive on schedule.

That increases uncertainty when much on Wall Street is riding on investors’ expectation that the job market is slowing by enough to convince the Federal Reserve to keep cutting interest rates, but not by so much that it leads to a recession.

"The Fed has been on record that they are very data dependent, and the lack of data from public sources is likely to be problematic," said Brian Rehling, head of global fixed-income strategy at Wells Fargo Investment Institute.

So far, the U.S. stock market has looked past the delays of such data. Shutdowns of the U.S. government have tended not to hurt the economy or stock market much, and the thinking is that this one could be similar, even if President Donald Trump has threatened large-scale firings of federal workers this time around.

That left corporate announcements as the main drivers of trading Thursday.

Stocks in the chip and artificial-intelligence industries climbed after OpenAI announced partnerships with South Korean companies for Stargate, a $500 billion project aimed at building AI infrastructure.

Samsung Electronics rose 3.5 per cent in Seoul, and SK Hynix jumped 9.9 per cent.

The announcement also sent ripples around the world. On Wall Street, Advanced Micro Devices climbed 3.5 per cent, and Broadcom gained 1.8 per cent. Nvidia's 1 per cent rise was the strongest force pushing the S&P 500 upward.

Excitement around AI and the massive spending underway because of it has been a major reason the U.S. stock market has hit record after record, along with hopes for easier interest rates. But AI stocks have become so dominant, and so much money has poured into the industry that worries are rising about a potential bubble that could eventually lead to disappointment for investors.

Occidental Petroleum fell 7 per cent after it agreed to sell its chemical business, OxyChem, to Berkshire Hathaway for $9.7 billion in cash. It could be the final big purchase for Berkshire Hathaway with famed investor Warren Buffett as its CEO.

Fair Isaac jumped 18.6 per cent toward its best day in nearly three years after announcing a program that will allow mortgage lenders to access FICO credit scores, cutting out such big credit bureaus as TransUnion, Equifax and Experian.

TransUnion’s stock tumbled 10.1 per cent, while Equifax slid 8.4 per cent. The stock of the United Kingdom’s Experian fell 4.2 per cent in London.

London’s FTSE 100 edged down by 0.2 per cent, but indexes were much stronger across Europe and Asia. South Korea’s Kospi leaped 2.7 per cent for one of the world's biggest gains following the big jumps for Samsung Electronics and SK Hynix.

In the bond market, the yield on the 10-year Treasury eased to 4.08 per cent from 4.12 per cent late Wednesday.

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AP Writers Teresa Cerojano and Matt Ott contributed.

– Stan Choe, The Associated Press