New Record Highs on S&P, Nasdaq: Tech Stocks Still Lead

Monday, September 15, 2025

An opening trading session for what promises to be an eventful week saw new closing highs on both the S&P 500 and the tech-heavy Nasdaq. In a nutshell, the bull market continues its move forward under the same narrative it’s had for some time: the (AI-based) tech trade joins a pending lower interest rate environment for a market-friendly blend.

The Tech sector is at a record high, as are Financials. While the Dow failed to notch a new record-high close today, it did gain +49 points, +0.11%. The S&P 500 surged over 6600 for the first time, +30 points, +0.47%. The Nasdaq gathered another +207 points, +0.94% to 22,348, and the small-cap Russell 2000 continues to seek out those new closing highs, +0.34% on the session. 
 

TikTok Ownership Coming to U.S. Shores?

Reportedly, the “framework” of a deal over the ownership of Chinese social media giant TikTok has been agreed to by both U.S. and Chinese negotiators today, according to Treasury Secretary Scott Bessent. While it remains unclear which assets have been agreed to be sold, to which company or companies, for how much and with what constraints, Bessent says details will be forthcoming this week.

CoreWeave Deal with NVIDIA Sends Shares Up +7%

AI cloud services provider CoreWeave CRWV has announced an agreement with AI chip leader NVIDIA NVDA worth $6.3 billion, which will obligate NVIDIA to buy up remaining data center space at CoreWeave through mid-April 2032. Shares of CRWV gained +7% on this news today, while NVDA stock was flat.

What to Expect from the Stock Market Tomorrow

Tuesday morning brings us a truckload of new economic data, with U.S. Retail Sales, Import/Export Prices, and Industrial Production/Capacity Utilization for August before the opening bell. We’ll also get a look at Business Inventories for July and Homebuilder Confidence for September a little later on that morning.

The Federal Open Market Committee (FOMC) starts its two-day meeting tomorrow, as it deliberates on monetary policy and decides on interest rate levels the following day. Expectations are for the first of three 25 basis-point (bps) cuts to the Fed funds rate through the end of the calendar year, which would bring down rates initially to 4.00-4.25%. By the December meeting, interest rates are now expected to be 3.50-3.75%.

Also, we may see a last-minute addition to the FOMC at these meetings, as long as the Republican-run Senate continues to do President Trump’s bidding: Stephen Miran, currently the president’s Chair of the Presidential Council of Economic Advisors and likeminded with Trump that interest rates are about 300 bps too high, will likely get a vote early this evening. It is also likely Fed Governor Lisa Cook will stay on the FOMC, despite President Trump attempting to fire her.


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