There is no US government shutdown or geopolitical tensions that can stop it: the stock markets are flying on the wings of technology, supported by a mega agreement between OpenAI and South Korean chipmakers which has strengthened optimism on the'artificial intelligence. Furthermore, supporting the markets is the belief that the Fed will cut the rates within the year, in light of the data on US labor market of yesterday. The result is a Wall Street which closed with further gains yesterday, asian bags sparkling and futures which indicate a good rise also for the European stock exchanges.
Wall Street surges, buoyed by the pharmaceutical sector. The shutdown isn't a cause for concern.
Yesterday the main stock indices of Wall Street closed higher, with the main push coming from pharmaceutical sector, while investors have put aside the data on job market weaker than expected and the uncertainty surrounding the first day of federal government shutdown of the United States.
Yesterday's data on theemployment in the private sector The ADP data was closely followed, as the other key data, September payrolls, is highly likely not to be published tomorrow, precisely because of the US government shutdown. The private sector reported a decline of 32.000 units in September, versus expectations for a growth of 50.000. The data was actually seen as further reason to believe that the Fed be forced to cut rates decisively, with indications of two cuts within the year.
After a lower opening, all three major US indices rose: Dow closed up 0,09%, S & P 500 to +0,34%, Nasdaq at +0,42%. The best performance was seen on healthcare sector, in the wake of the agreement made by Trump with Pfizer, under which the pharmaceutical company agreed to lower the prices of prescription drugs under the Medicaid program, compared to those in other developed countries, in exchange for reduced tariffs. Trump said he expected other pharmaceutical companies to follow suit. Pfizer closed up 6,79% and, in the same sector, shares of Biogen, which closed up 10,9% and Thermo Fisher up 9,4%, Eli Lilly +11%.
Also noteworthy is the 16,8% rally in Aes shares after the Financial Times reported that the company owned by BlackRock Global Infrastructure Partners is close to closing a $38 billion deal to acquire the utilities group.
Asia soars on the wings of technology after OpenAI chooses Korea for its chips. Samsung and SK Hynix leapfrog.
The MSCI Asia Pacific Index rose nearly 1%, surpassing last month's record close, with chip-related technology stocks leading the race. Samsung Electronics Co. advanced by 4,5% and SK Hynix Inc. jumped 10% after signing an initial supply agreement with Stargate Project di Open AI. This helped the South Korean benchmark index Kospi reached a record intraday high. Yesterday Sam Altman of OpenAI signed a letter of intent to involve the two companies in his project construction of a data center, a global initiative involving the biggest players in the sector, from Nvidia Corp. to Oracle Corp.The U.S. startup could need as many as 900.000 wafers a month as Stargate expands, the companies said. Hang Seng's Hong Kong is up 1,7%.
Chip stocks also led gains in Nikkei Japanese stocks, up 1% after four sessions of decline. Among the stocks worth noting Tokyo electron which gained +8%. The automotive sector, on the other hand, fell: Toyota and Honda at -2%.
Il dollar remained unchanged and the is taking a well-deserved rest after rocketing towards the $3.900 mark for the first time in history overnight, but it hasn't moved far away, last changing hands around $3.866.
The prices of Petroleum They rebounded after three consecutive sessions of declines due to concerns about market oversupply, while the possibility of tougher sanctions on Russian crude provided some support. Brent crude futures rose 0,67% to $65,79 a barrel, and WTI futures rose 0,66% to $62,19 a barrel.
European stocks opened higher. At the Milan Stock Exchange, eyes were on MPS, Stellantis, and Brunello Cucinelli.
European stock markets are expected to open higher: Eurostoxx 50 futures up 0,54%.
StellantisAccording to data published by the Ministry of Infrastructure and Transport, 126.679 passenger cars were registered in Italy in September, compared to 121.720 registrations in the same month of the previous year, representing a 4,07% increase. In the first nine months of 2025, total volumes stood at 1.167.437 units, a 2,9% decrease compared to January-September 2024. Stellantis sales also grew. In September 2025, the group's registrations totaled over 34 units, a 15,4% increase compared to the 29,5 vehicles sold in September 2024. As a result, Stellantis' market share stood at 26,88%.
BRUNELLO CUCINELLI Brunello Cucinelli closed the first nine months of 2025 with revenues of €1,02 billion, up 10,8% compared to the €920,24 million achieved in the first three quarters of 2024. At constant exchange rates, revenue growth would have been 11,3%. The third quarter saw revenues of €335,5 million, up 12% (up 12,4% at constant exchange rates). Based on the results achieved in the January-September period, Brunello Cucinelli expects revenue growth of around 10% for the full year 2025, accompanied by balanced profits. The company also estimates a revenue increase of around 10% for next year. Furthermore, Brunello Cucinelli has ruled out any possibility of using the Russian market to reduce inventory and dispose of remaining stock in violation of EU regulations.
nexiFrancesco Renato Mele, a non-executive and independent director, has resigned from the Nexi Board of Directors due to "supervening professional commitments." Mele does not hold any Nexi shares.
Iveco Group Iveco S.p.A. announced that it has obtained approval to establish a joint venture with vendor finance provider DLL, aimed at facilitating the energy transition in Europe by expanding access to low- and zero-emission commercial vehicles. DLL acquired a majority stake (51%) in GATE—previously 100% owned by Iveco Group—through a reserved capital increase. Iveco Group, however, retains a 49% stake.
Mount Paschi. Rating agency Moody's has upgraded Banca MPS's capital strength ratings by one notch, raising the long-term rating on senior unsecured debt to "Baa3" from "Ba1" (investment grade) and the long-term rating on deposits to "Baa1" from "Baa2." Today, Monte dei Paschi's board of directors will approve the list of candidates for the Piazzetta Cuccia board renewal following the outcome of the takeover bid that gave Siena control of the investment bank with 86,3%.
Unicredit It has tightened its business in Russia, where it operates through AO Unicredit Bank (according to Kommersant, it has applied new restrictions on services for local corporate clients), while waiting to halt its retail activity in Moscow by July 2026.
Generali Investments, a subsidiary of the Generali insurance company, has completed the acquisition of a majority stake in MGG Investment Group, a specialist in direct private credit in the US middle market.
