Today's stories that matter
October 6, 2025
Markets start the week balancing gold’s new record, AI chip optimism, and shutdown fallout. Safe-haven flows rise, AI broadens beyond Nvidia, and India’s rupee steadies after intervention. Housing policy talk and WIC risks round out a data-thin day.
Commodities
High Impact
🪙 Gold sets a fresh record above $3,900/oz
#1
Spot gold broke above $3,900/oz for the first time as safe-haven demand surged amid US shutdown risks and renewed rate-cut bets.
Why it matters:
When “safety” leads, portfolios concentrated in growth need ballast—think cash, investment-grade bonds, and gold.
Equities
High Impact
🤖 OpenAI signs multi-year chip deal with AMD
#2
OpenAI inked a five-year pact for AMD’s next-gen Instinct MI450 chips, plus warrants to buy up to ~10% of AMD if milestones are met. AMD shares jumped.
Why it matters:
This broadens AI compute beyond Nvidia, reshaping semiconductor, cloud, and infrastructure exposures across tech portfolios.
Currencies
Medium Impact
🇮🇳 Rupee nears record low; RBI moves to support it
#3
The rupee hovered near its all-time low around 88.8/USD before the Reserve Bank of India intervened via state-run banks to steady the currency.
Why it matters:
EM FX volatility can tighten global financial conditions and ripple through commodities and debt markets.
Real Estate
Medium Impact
🏘️ Trump urges Fannie & Freddie to “get big homebuilders going”
#4
President Trump called on Fannie Mae and Freddie Mac to spur large homebuilder activity, reviving debate over the GSEs’ roles under conservatorship.
Why it matters:
Signals potential shifts in mortgage credit dynamics—key for homebuilder equities, REITs, and MBS markets.
Equities
High Impact
🍼 US shutdown widens ripple effectsWIC benefits at risk
#5
The ongoing shutdown threatens funding for WIC nutrition programs; states may soon require emergency stopgaps to maintain benefits.
Why it matters:
Extended stoppages weigh on consumption, delay key data, and amplify volatility in both bond and equity markets.