S&P 500, Nasdaq Rally While Dow Marks Fresh Peak

Major Indices Closed Positive :

S&P 500 (SPX): +0.44% to 6,693.74

Dow Jones (DJI): +0.14% to 46,381.54

Russell 2000 (RUT): +0.59% to 2,463.34

On September 22, 2025, U.S. stock markets closed higher, with the Dow Jones Industrial Average up 0.14% at a new all-time high, the S&P 500 gaining 0.44%, and the NASDAQ Composite rising 0.70%. Gains were driven by strong performances in the Technology, Utilities, and Industrials sectors.

In commodities, gold futures climbed 2.08% to $3,782.75, while crude oil and Brent oil slightly declined. The EUR/USD rose 0.47% to 1.18, USD/JPY fell 0.14% to 147.76, and the US Dollar Index futures dropped 0.31% to 96.97.

Top Dow performers included Apple (+4.31%), NVIDIA (+3.93%), and IBM (+1.87%), while Procter & Gamble (-1.90%), 3M (-1.76%), and Amazon (-1.66%) were among the biggest losers.

On the S&P 500, Teradyne (+12.79%), Oracle (+6.31%), and Applied Materials (+5.48%) led gains, while Kenvue (-7.50%), Match Group (-5.40%), and Keurig Dr Pepper (-4.3%) saw significant declines.

9:45 am- S&P flash U.S. services & U.S. manufacturing PMI (Sept).

The Dow gained +0.14%, closing at 46,381.54. Key support sits at 46,263.72; holding above could spark a rebound toward 46,450 and 46,550.

The index ended at 24,761.07. Key support lies at 24,684.51; holding above this level could open upside toward 24,800 and 24,850.

Closing at 6,693.75, the S&P is trading above support at 6,672.56. If buyers hold this level, the potential upside targets are 6,700 and 6,720.

SPY was trading at $666.15 pre-market, with support at $664.95 and potential upside targets at $666.94 and $668.

QQQ was trading at $601.83 pre-market, with key support at $600. Holding above this level keeps upside targets in play at $602.50 and $604.

IWM was trading at $244.39 pre-market. Support is nearby at $243.55, while the potential upside levels stand at $244.58 and $245.58.

SMH traded at $323.08 pre-market. Support lies at $321.83; a bounce could test $323.69 and $325.

SOXL was at $34.72 pre-market. Support at $34.50 must hold to fuel a move towards $34.89 and $35.

Earnings Expectations- AutoZone's earnings release on September 23, 2025, forecasts $6.25B revenue and $51/share earnings. Anticipated 1% YoY revenue growth with flat earnings, pressured by inventory issues and commercial sales mix.

AZO was trading at $4,121 pre-market. Support is at $4,088.62, while the potential upside levels stand at $4,140.23 and $4,158.01.

Earnings Overview- Micron (MU) to report earnings after market hours, with expected revenue of $11.12B and EPS of $2.86. Analysts expect 43.5% YoY revenue growth, slower than last year’s 93.3%, with stable estimates over the past 30 days.

Last Quarter Performance- Micron reported $9.3B revenue last quarter, up 36.6% YoY, beating estimates by 4.9% with improved inventory levels.

MU was trading at $166.29 pre-market. Support is at $164.41, while the potential upside levels stand at $166.86 and $168.68.

Earnings Overview- Worthington (WOR) to report earnings Tuesday afternoon, September 23, 2025, with expected revenue of $299.4M and EPS of $0.70. Analysts forecast 16.4% YoY revenue growth, a turnaround from last year’s 17.5% decline, with stable estimates over the past 30 days.

Last Quarter Performance- Worthington reported $317.9M revenue last quarter, flat YoY, beating estimates by 5.6% with strong EPS and operating income performance.

WOR was trading at $61.03 pre-market. Support is at $60.50, while the potential upside levels stand at $61.33 and $62.06.

Earnings Overview- AAR Corp (AIR) to report Q1 2026 earnings on September 23, 2025, with expected revenue of $688.72M and EPS of $0.85.

Full-Year Projections- Full-year 2026 revenue forecast at $2.88B with EPS of $4.02; 2027 revenue expected at $3.08B with EPS of $4.65.

Last Quarter Performance- Q4 2025 revenue was $754.5M, beating estimates by 8.45%; EPS of $0.95 exceeded expectations by 3.26%, with stock up 13.65% post-earnings.

AIR was trading at $77.28 pre-market. Support is at $76.46, while the potential upside levels stand at $77.67 and $78.35.