A September no investor wanted to sleep on

The U.S. government will shut down on Oct. 1 stateside.

Around 750,000 federal employees— including those in the Bureau of Labor Statistics — will be furloughed, according to the Congressional Budget Office. That means September’s jobs report will not be released as scheduled on Friday, leaving the Federal Reserve and investors in the dark about the state of the U.S. labor market.

While the shutdown was only confirmed around 9 a.m. Singapore time (9 p.m. ET), it appeared imminent during trading hours on Tuesday. And markets seemed to shrug off such concerns, with the Dow Jones Industrial Average even hitting a new high.

Shares of Nvidia also closed at a record, which pushed the company past a $4.5 trillion market cap, while CoreWeave stock jumped nearly 12% on an artificial intelligence infrastructure agreement with Meta.

Indeed, the flurry of AI deals announced during the month, with OpenAI at the center of many of them, turbocharged the stock market. In September, the S&P 500 added more than 3%, blowing past its historical average of a 4.2% fall for the month.  

While the U.S. government will be put to sleep when September ends, investors, hopefully, had their eyes peeled during the month.

The U.S. government will shut down. That’s set to occur on Oct. 1 midnight stateside after Republicans and Democrats failed to reach a deal on passing a stopgap funding bill.

Berkshire Hathaway reportedly eyeing $10 billion deal. Warren Buffett’s conglomerate is reaching a deal to buy OxyChem, Occidental Petroleum’s petrochemical unit, according to The Wall Street Journal on Tuesday. If finalized, it’d be Berkshire’s biggest deal since 2022.

Pfizer reaches an agreement with Trump. The pharmaceutical company will lower drug prices in the U.S., and in return, will get a three-year exemption from pharmaceutical tariffs — as long as Pfizer continues its investments in U.S. manufacturing.

U.S. stocks end September higher. Major stock indexes rose Tuesday, with the Dow Jones Industrial Average closing at a record, securing themselves a positive month. The Stoxx Europe 600 rose 0.48%, with most regional bourses also closing in the green.

[PRO] This stock is posed to soar, according to the charts. A classic “cup and handle breakout pattern” is forming above the stock’s resistance level. If it manages to breach it, there could be strong momentum, writes CNBC Pro’s Todd Gordon.

Here’s JPMorgan Chase’s blueprint to become the world’s first fully AI-powered megabank

Deep within the bowels of JPMorgan Chase’s data centers and cloud providers, an artificial intelligence program, called LLM Suite, grows more powerful by the week. It’s a portal created by the bank to harness large language models from the world’s leading AI startups.  

Derek Waldron, JPMorgan chief analytics officer, gave CNBC the first demonstration of its AI platform seen by any outsider. It showed the program creating an investment banking deck in about 30 seconds, work that would’ve previously taken a team of junior bankers hours to complete.

— Hugh Son