The week began on a positive note with AI-driven optimism and record highs for the S&P 500, fueled by deals like AMD’s partnership with OpenAI. However, ongoing U.S. government shutdown concerns delayed key economic data releases, adding uncertainty. Midweek saw a rebound in tech and chip stocks following FOMC minutes, but the week ended in turmoil after President Trump’s social media post renewing tariff threats against China, erasing trillions in market value and sparking a sharp sell-off. Overall, the S&P 500 fell 2.76%. Volatility, as measured by the VIX (CBOE Volatility Index), remained subdued early in the week around 16-17 but surged 32% on Friday to close at 21.66, reflecting heightened investor fears over trade tensions. Gold rallied to new records above $4,000 amid safe-haven buying, while Bitcoin also hit all-time highs.
Below is a day-by-day breakdown, including performance of the S&P 500, key events, notable stock movers, and volatility metrics (VIX close with daily change and intraday range on the S&P 500 as a proxy for market swings).
Monday, October 6, 2025
Markets opened the week strongly, extending last week’s gains amid AI enthusiasm. The S&P 500 notched a new closing high, driven by semiconductor strength after AMD announced a multibillion-dollar deal with OpenAI for AI chip supply. Trading volume was elevated due to quarter-end rebalancing, but the government shutdown loomed, delaying jobs data. Volatility was low, with the VIX dipping slightly as investor sentiment stayed optimistic.
S&P 500: Opened at 6,733.86, high of 6,749.52, low of 6,717.78, closed at 6,740.28 (+0.27%).
VIX: Closed at 16.37 (-1.6% daily change). S&P intraday range: 31.74 points (0.47% swing), indicating calm trading.
Notable Movers: AMD +12% on the OpenAI news; Tesla +3% on EV demand optimism. Gold rose 1.2% toward $4,000.
Tuesday, October 7, 2025
Sentiment shifted as profit-taking emerged after Monday’s records, snapping the S&P 500’s seven-day win streak. The index fell on tech rotation out of megacaps amid broader caution over the shutdown’s impact on economic indicators. No major data releases exacerbated the dip, but Fed speakers hinted at steady rates. Volatility ticked up modestly, with wider intraday swings signaling early hesitation.
S&P 500: Opened at 6,746.14, high of 6,754.49, low of 6,699.96, closed at 6,714.59 (-0.38%).
VIX: Closed at 17.24 (+5.3% daily change). S&P intraday range: 54.53 points (0.81% swing), showing increased choppiness.
Notable Movers: Oracle -4% on weak cloud guidance; small-caps (Russell 2000) -1% as rate-sensitive sectors lagged. Gold hit $4,000 for the first time.
Wednesday, October 8, 2025
A rebound took hold as chipmakers rallied on positive FOMC minutes suggesting no immediate rate hikes, boosting AI and tech bets. The S&P 500 closed at a fresh record. Gold extended its surge past $4,000 on geopolitical jitters. Volatility eased after Tuesday’s uptick, though the lack of economic data kept markets reactive to headlines.
S&P 500: Opened at 6,723.87, high of 6,755.64, low of 6,718.09, closed at 6,753.72 (+0.58%).
VIX: Closed at 16.30 (-5.5% daily change). S&P intraday range: 37.55 points (0.56% swing), reflecting a return to stability.
Notable Movers: Nvidia +2.5%, Broadcom +3% on AI chip demand; Delta Air Lines +4% on strong earnings.
Thursday, October 9, 2025
Gains moderated as investors awaited Fed Chair Powell’s speech, which struck a neutral tone on policy. The S&P 500 pulled back slightly from records amid industrial weakness. Earnings from PepsiCo and others provided mixed signals, but trade tension whispers added caution. Volatility was steady, with narrow ranges suggesting indecision ahead of the weekend.
S&P 500: Opened at 6,760.50, high of 6,764.58, low of 6,716.17, closed at 6,735.11 (-0.27%).
VIX: Closed at 16.43 (+0.8% daily change). S&P intraday range: 48.41 points (0.72% swing), mildly elevated but contained.
Notable Movers: PepsiCo +2% on earnings beat; Boeing -1.5% on supply chain issues. Powell’s comments eased some rate fears.
Friday, October 10, 2025
Panic selling dominated after Trump’s X post (formerly Twitter) threatened 60% tariffs on Chinese imports, reigniting trade war fears and wiping out $2 trillion in market cap. The S&P 500 plunged on tech exposure to China. Volume spiked to session highs in the afternoon. Volatility exploded, with the VIX’s largest single-day gain since April, underscoring rapid risk-off moves.
S&P 500: Opened at 6,740.49, high of 6,762.40, low of 6,550.78, closed at 6,552.51 (-2.72%).
VIX: Closed at 21.66 (+31.9% daily change). S&P intraday range: 211.62 points (3.14% swing), the week’s most volatile session by far.
Notable Movers: Apple -5%, Qualcomm -6% on China exposure; utilities gained 1% as a defensive play.
Looking ahead, markets will monitor trade rhetoric and potential retaliatory measures, with next week’s CPI data (delayed by the shutdown) in focus. Investors may seek dips in AI leaders if volatility subsides.
