The stock market experienced a mixed trading day on Friday, October 3, 2025. While the Dow Jones Industrial Average and the Russell 2000 small-cap index showed gains, the Nasdaq Composite moved into negative territory. Quantum computing stocks demonstrated significant strength, continuing a week of strong performance. In contrast, casino operators saw a decline in their share prices.
The day's trading was also impacted by a delay in the official jobs report due to a government shutdown. However, several economic reports from private agencies were still released, offering some insight into the broader economic landscape.
Key Takeaways
- Dow Jones Industrial Average increased by 0.6%, or nearly 300 points.
- Russell 2000 small-cap index surged by 1.2%.
- Nasdaq Composite experienced a 0.5% loss.
- Quantum computing stocks, including Rigetti Computing and D-Wave Quantum, saw notable gains.
- Casino operators, such as Las Vegas Sands and Wynn Resorts, fell due to weak China holiday travel signs.
- Berkshire Hathaway announced executive changes and a significant acquisition.
- Economic reports provided a mixed picture for September.
Quantum Sector Shows Strong Gains as Casino Stocks Decline
Quantum computing companies continued their upward trend on Friday. Rigetti Computing (RGTI) shares climbed by nearly 7%, extending a four-day winning streak. The stock is set to conclude the week with gains exceeding 20%, indicating robust investor confidence in the sector.
Similarly, D-Wave Quantum (QBTS) saw its shares rise by more than 9% during Friday's trading. This performance contributed to a weekly surge of over 18% for the company. These gains highlight a growing interest in the potential of quantum technology.
Quantum Surge
Rigetti Computing (RGTI) rose nearly 7% on Friday, bringing its weekly gains to over 20%. D-Wave Quantum (QBTS) climbed more than 9%, achieving weekly gains exceeding 18%.
Conversely, casino operators experienced significant declines. Shares of Las Vegas Sands (LVS) fell by 7%, while Wynn Resorts (WYNN) dropped by 5%. This downturn followed reports suggesting weak holiday travel in China, a key market for these companies.
Citi analysts observed that "overall passenger throughput volume during first two days could be below some investors' expectations, which we partially attribute to more people starting their travel earlier this year," as reported by Barron's.
Macau, a special administrative region of China, is one of the world's largest gambling hubs. Weak travel figures in this region directly impact the performance of major casino firms.
The decline in Las Vegas Sands shares was notable, as the stock traded below its 50-day moving average on heavy volume, often signaling a sell-off. Wynn Resorts also retreated, falling from its 20% profit zone, which had been established from a buy point of 110.38.
In other market news, the video-sharing platform Rumble (RUM) saw its stock increase by more than 12%. The company's shares also moved above its 50-day moving average. This rise occurred following an announcement that Rumble plans to introduce an artificial intelligence-powered search engine through a partnership with Perplexity.
Economic Reports Offer Mixed Signals, Berkshire Hathaway Announces Key Changes
Despite the government shutdown, some economic data was released on Friday afternoon. The IHS Markit's Purchasing Managers Composite Index for September registered 53.9, a slight decrease from August's 54.6. However, the services index within this report showed an unexpected rise to 54.2, surpassing economists' target of 53.9 after August's 54.5.
In contrast, the Institute of Supply Management's services Index for September did not meet expectations. It fell to 50, down from 52 in August, and missed views of 51.6. These mixed signals suggest varied conditions across different economic sectors.
Economic Indicators
The IHS Markit's Purchasing Managers Composite Index for September was 53.9, with the services index rising to 54.2. The Institute of Supply Management's services Index, however, dropped to 50 for September.
Meanwhile, Berkshire Hathaway (BRKB) shares rose after the company announced significant executive changes and a major acquisition. According to CNBC, the company's board voted to separate the roles of chairman and chief executive. Warren Buffett will continue as chairman, while Greg Abel will assume the role of CEO.
Abel is slated to succeed Buffett in the CEO position by the end of the year. Prior to this announcement, Berkshire Hathaway revealed its intention to acquire OxyCheck from Occidental Petroleum (OXY) in an all-cash transaction valued at $9.7 billion. Shares of Berkshire Hathaway increased by 1% in afternoon trading, positioning them within a long consolidation phase with a buy point of 542.07. Occidental stock also saw an increase of more than 1%.
AI-Related Stocks See Varied Performance
The artificial intelligence sector experienced varied movements. Lumentum (LITE), a provider of optical and photonic components crucial for high-speed data transmission in AI data centers, saw its shares decline by more than 4%. Despite this drop, the stock remains near its recent highs and above its 21-day exponential moving average.
Former market leader Roblox (RBLX), a popular online gaming platform, experienced a 5.5% slump. The stock generated a sell signal by falling below its 50-day moving average. Investor sentiment turned negative after an analyst expressed concerns about slowing growth in Roblox's primary markets.
In the oil and gas sector, Flotek Industries (FTK) continued its upward trajectory. After a 12.5% increase last week, the stock climbed another 9% this week, placing it less than 6% below its high. The oil field services company boasts a strong Composite Rating of 97, indicating robust financial health.
Among recent initial public offerings (IPOs), Heartflow (HTFL) surged by 6%, breaking out of its IPO base. The company operates a platform designed for diagnosing and managing coronary artery disease. Heartflow shares, initially priced at 19, closed at 28.75 on their first trading day and were recently trading around 38.
Key Movers and Shakers Across Sectors
Several other prominent companies showed notable movements during Friday's trading. Shopify (SHOP) shares jumped to a new high after successfully testing its 50-day moving average. The e-commerce platform was a strong performer in the MarketSurge Growth 250, surging by more than 5%.
However, some other AI-related stocks faced selling pressure. Celestica (CLS), which is experiencing a new growth phase driven by strong demand for AI hardware, saw its shares slump by nearly 3%. Palantir Technologies (PLTR) was down more than 4%. Palantir appeared poised to break out of a cup-with-handle base but fell close to its 21-day line in early trading.
- Credo Technology Group (CRDO): Dropped approximately 2%.
- Astera Labs (ALAB): Also fell by roughly 2%.
- Nvidia (NVDA): Edged higher, holding in a buy zone from a conventional entry point of 184.48.
Nasdaq-100 and Dow Jones Leaders and Laggards
Within the Nasdaq-100 index, Shopify (SHOP) and Intel (INTC) were among the top performers at the market open. Shopify rallied by 3%, with shares approaching a 156.85 entry point after recent losses. Intel also gained 1.3%.
Conversely, PayPal (PYPL) declined by 1.5%, encountering resistance at its 50-day moving average. This suggests continued challenges for the digital payments company.
Inside the blue-chip Dow Jones Industrial Average, Caterpillar (CAT) and UnitedHealth Group (UNH) were strong performers in premarket activity. Caterpillar shares gained 0.5%, moving further above a recent buy point of 441.15. UnitedHealth Group stock rose by 1.7%, looking to extend a winning streak to five sessions.
On the downside, Apple (AAPL) stock lost nearly 1% in morning trading. Despite this, the tech giant's shares remain just shy of record highs, indicating overall strong performance over a longer period.
In early Friday trading, artificial intelligence chip stock Astera Labs added 1.5% premarket, building on Thursday's 7.8% gain. Shares are rebounding from their 50-day moving average, creating a new buying opportunity. Nvidia shares rose 0.3% on Friday, aiming for a seventh consecutive winning session. The stock is currently above its 184.48 buy point and within the 5% buy zone.
Tesla (TSLA) stock bounced back by 1.4% early Friday, following a 5.1% decline on Thursday. The electric vehicle manufacturer's shares remain significantly above a 367.71 entry point, demonstrating underlying strength despite daily fluctuations.
Jobs Report Delayed Amid Government Shutdown
Due to the ongoing federal government shutdown, the Labor Department did not release its September jobs report as scheduled. Economic forecasts from Econoday had predicted the U.S. economy would add 50,000 jobs in September, an increase from August's 22,000. The unemployment rate was expected to remain stable at 4.3%.
The delay of this key economic indicator leaves investors and analysts without crucial data points for assessing the health of the labor market and its potential impact on broader economic policy decisions.