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Stocks Pull Back from Records, Snap Win Streaks

By Laura McCandless | September 23, 2025, 4:28 PM

Stocks gave back from their early-morning gains today, but not before the Dow, S&P 500, and Russell 2000 all nabbed record highs. The Nasdaq led the charge lower, dropping 215 points as the AI sector took a breather following yesterday's rally. The Dow snapped its four-day win streak, while the S&P 500 and Nasdaq ended their respective three-day win streaks. Elsewhere, the Cboe Volatility Index (VIX) notched its highest close in three weeks. 

Boeing's (BA) big-time deal with Uzbekistan Airways provided some optimism earlier in the day, while in the afternoon, investors turned their attention toward the United Nations General Assembly. Meanwhile, Federal Reserve Chair Jerome Powell reheated valuation concerns, in a speech calling stocks "fairly highly valued" and the rate-cut calendar a "challenging situation." 

Continue reading for more on today's market, including: 

  • How options traders quadrupled their money with this QUBT trade
  • These outperforming stocks have more gas left in the tank. 
  • Plus, VST downgraded; AZO's earnings miss; and AI stocks ripe for a short squeeze.
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5 Things to Know Today

  1. Eli Lilly (LLY) is to spend $6.5 billion on a manufacturing plant in Texas. (CNBC)
  2. Southern Chinese cities evacuating ahead of Super Typhoon Ragasa. (Reuters)
  3. Vistra stock downgraded after long-term outperformance. 
  4. AutoZone stock slipped on an earnings miss despite a revenue beat. 
  5. These 3 AI stocks have plenty of short squeeze potential
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Gold Extends Records

Oil prices rose for the first day in five after a deal to resume exports from Iraq’s Kurdistan stalled, easing some oversupply concerns. November-dated West Texas Intermediate (WTI) crude added $1.13, or 1.81%, to settle at at $63.41 per barrel.

Gold prices hit more record highs today. U.S. gold futures for December delivery climbed 1% to $3,811.30 per ounce.

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