U.S. jobless claims fell sharply, reversing the recent runup that lifted new filings for unemployment benefits to a four-year high during the previous week. “The decline is more noteworthy since claims in Texas, which drove a spike in the prior week, declined but remained elevated,” said Nancy Vanden Houten, lead US economist at Oxford Economics. “Sorting through the noise, initial claims are still consistent with a relatively low pace of layoffs.”

The U.S. Leading Economic Indicator fell in August, and is down 2.8% over the six months. “In August, the US LEI registered its largest monthly decline since April 2025, signaling more headwinds ahead,” said Justyna Zabinska-La Monica at The Conference Board.

The Philadelphia Fed Manufacturing Index rose in September to its highest level since January. “The survey’s indicators for current general activity, new orders, and shipments all rose, with the former two returning to positive territory,” the regional Fed bank reports.

Nvidia (NVDA) announced that it’s investing $5 billion in Intel and will collaborate with the struggling semiconductor company. AP reports: “Nvidia CEO Jensen Huang called it “a fusion of two world-class platforms” that combines Intel’s strength in making conventional computer chips, known as CPUs, that power most laptops, with Nvidia’s focus on the specialized graphics chips that are critical for artificial intelligence.”

US 10-year yield rises in first full trading day after Fed rate cut. The benchmark rate increased to 4.11%, the highest close since Sep. 4:

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