US stocks closed mixed on September 23, with the Nasdaq posting its fourth consecutive daily gain and touching a fresh intraday record high, while the S&P 500 finished flat and the Dow Jones Industrial Average declined by 180 points.
Among the top 20 most actively traded US stocks on September 23, SpaceX advanced 1.89%, as the company gradually phases out its most frequently used Falcon 9 rocket to focus on the new Starship spacecraft.
Most Chinese stocks listed in the US rose on September 23, with Pony.ai climbing more than 5% and Manbang (Full Truck Alliance) gaining over 3%.
In commodities, crude oil prices retreated, copper notched a sixth straight session of gains, and gold moved higher. European equity markets advanced, with oil prices easing on hopes for the reopening of the Strait of Hormuz, while technology shares outperformed.
Macro and Policy Developments
With fuel prices remaining elevated, former President Trump said he has pushed for a ban on US diesel exports.
US special envoy Steve Witkoff and Keith Kellogg are set to meet with Ukrainian officials to discuss a potential agreement with Russia.
Trump confirmed that the US and Iran held rare, direct contact on the sidelines of the UN General Assembly, describing the three-hour talks as "very good." Iran's foreign minister met with the US special envoy in New York.
Scott Bessent is emerging as a leading candidate for the role of "AI czar" within the Trump administration.
Trump said US officials had a lengthy conversation with the Iranian delegation early Tuesday, adding that Washington and Tehran have maintained communication and that he believes an agreement can be reached.
The US signed a security agreement with Denmark and Greenland. Gulf nations are reportedly set to urge Trump to avoid an escalation of conflict with Iran, while the US-Denmark deal suggests Washington may establish additional defense facilities in Greenland.
The European Union announced a three-year extension of sanctions against Russia. Trump firmly rejected the idea of an international agreement to regulate AI, downplaying risks associated with frontier model development.
Corporate Highlights
Apple is marketing its new Mac lineup as AI-enabled machines that do not require per-token fees. Anthropic and OpenAI have introduced lower-cost new models after previously calling for a slowdown in development. OpenAI will allow third-party organizations to get earlier access to AI model safety evaluations. Anthropic launched Claude Opus 5.5, claiming it can handle enterprise tasks at a lower cost. Apple is also developing a screenless health tracker aimed at competing with companies like Whoop.
Markets and Analysis
US stocks: The AI rally pushed the Nasdaq 100 index to a record high, while financial stocks faced selling pressure.
Top international headlines on September 23 included Trump confirming rare direct US-Iran contact at the UN, and Anthropic and OpenAI releasing cheaper new models.
Crude: Brent fell as Saudi Arabia advanced a key pipeline restart, with the prospect of reopening the Strait of Hormuz drawing attention.
US Treasuries: Bonds closed lower, as early gains faded when oil price declines narrowed.
The US Treasury Secretary said the Trump administration is studying whether a ban on diesel exports is feasible. Richmond Fed President warned that inflationary pressures may take time to subside.
Trump's speech at the UN prompted some delegates to walk out, with the Secretary-General implicitly criticizing his approach as encouraging hegemonic tendencies.
European bonds: German bunds held steady, with European Central Bank rate hike bets remaining stable. Iran is reportedly planning to detain vessels passing through the Strait of Hormuz without authorization, imposing fines equivalent to 20% of cargo value.
The 2-year US Treasury note auction saw the highest yield since 2024, with demand slightly below expectations. Bessent's deputy said the surge in Treasury bill supply was absorbed very well by the market.
A Citi survey found that family offices view inflation as their top concern, favoring stocks and gold.
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