The S&P 500 and Nasdaq-100 post second consecutive all-time closing highs

Despite trading sideways at the beginning of the session, the S&P 500 just barely eked out a new all-time closing high for the second consecutive day. This marks the longest winning streak for the benchmark index since July.

Your Evening Briefing October 02, 2025 The S&P 500 and Nasdaq-100 post second consecutive all-time closing highs Despite trading sideways at the beginning of the session, the S&P 500 just barely eked out a new all-time closing high for the second consecutive day. This marks the longest winning streak for the benchmark index since July. The Nasdaq 100 also climbed to a new highest close, while the Russell 2000 outperformed. Stocks that moved higher: Quantum computing stocks Rigetti, D-Wave Quantum, IonQ, and Quantum Computing went gangbusters on little-to-no news. Fair Isaac Corp. surged after announcing a new program to directly distribute FICO scores to customers, eliminating reliance on credit bureaus, which sent Equifax and TransUnion down. Space stocks jumped, led by a surge in AST SpaceMobile after Bell Canada named the Texas-based satellite services provider as a partner for a new direct-to-cellular service it plans to offer next year. Stellantis climbed after the Jeep maker posted a 6.4% jump in Q3 sales in the US, ending a string of quarterly declines in the region. Nebius rose after a Bloomberg report shed more light on its near $20 billion deal to supply computing power to Microsoft. Nebius will utilize more than 100,000 of Nvidia's flagship Blackwell chips in order to "provide computing power to internal teams creating large language models and a consumer AI assistant" for Microsoft. Stocks that moved lower: Tesla fell, despite selling a record number of vehicles last quarter, thanks to customers in the US racing to buy ahead of the expiration of the $7,500 federal tax credit for EV Shares of EV maker Rivian dipped, despite the company reporting better-than-expected Q3 sales. Bloom Energy fell as Mizuho downgraded the stock to "neutral" from "outperform," citing the firm's internal constraints on growth. Netflix slumped for the third-straight day, as Elon Musk continued to push for users to cancel their subscriptions to the streaming giant. OpenAI beats SpaceX as most valuable private company, at $500 billion valuation It also reached that valuation very quickly. See our full heatmap of the world's most valuable startups. Taco Bell is named the fastest drive-thru for a fifth year, but it may have lost a human touch with AI Although Chick-fil-A was the slowest fast-food drive-thru, it was considered the friendliest, per the latest QSR report — at the Golden Arches, however, customers weren't lovin' the vibe. Read more. Tesla delivered way more Teslas than it produced last quarter That's helping it claw its way through its surplus. Western Digital, a top S&P stock over the last month, is attracting retail traders Hard disk drives are suddenly sexy.  Tension emerges between Meta's AI teams Discontent between Meta's AI research teams is growing, according to a report by The Information, at a critical time for Meta's effort to get back into the AI race. Bitcoin, ethereum get bullish 12-month price targets from Citi Analysts updated their forecasts for the two largest cryptocurrencies and see good news ahead. Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.  Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!  Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025