U.S. stocks closed higher on Friday Sep 25: Dow Jones Industrial Average +478.61 pts (+0.93%) to 51,828.59; S&P 500 +39.38 pts (+0.51%) to 7,743.51; Nasdaq Composite +129.34 pts (+0.48%) to 27,068.72.

Swissquote senior analyst Ipek Ozkardeska said broad indices and pension funds are heavily tied to the AI theme: tech comprises roughly 40% of S&P 500 market cap, and three chipmakers account for more than 25% of MSCI Emerging Markets by market-cap weight. She called AI a market “core pillar” and warned that if the AI investment case falters it could trigger a marked equity correction. In the near term she expects the US rally to remain supported by seasonal factors and could extend through year-end, but downside risk would rise sharply if confidence in the AI story slips.

据日本共同社：片山皋月与贝森特重申日元被低估是一个问题。