Honestly, it’s a bit of a weird day in the pits. If you’re looking at global markets news today September 28 2025, you’ve probably noticed that the vibe is "cautious but strangely optimistic." We’re sitting on a Sunday, which means the heavy lifting is happening in the futures markets and over in the Middle East and Asia, but the shadow of tomorrow's Monday opening is massive. Why? Because the U.S. government is barreling toward a shutdown deadline on October 1, and the rhetoric in D.C. is getting, well, spicy.
Most people think a shutdown means a market crash. Actually, that's rarely how it goes.
Historically, the S&P 500 tends to shrug these things off unless they drag on for weeks. But this time, the stakes feel different because the Federal Reserve just handed us a 25-basis point rate cut on September 17. Investors are trying to figure out if the Fed is cutting because they’re nice or because the labor market is actually starting to crumble.
The Shutdown Shadow and Your Portfolio
Right now, the U.S. fiscal year is ending Wednesday. Republican leaders and the White House are basically playing a game of chicken. If they don't pass a funding extension, we get a shutdown. For global markets news today September 28 2025, the big worry isn't just the lack of government services—it's the data blackout.
If the government closes, we stop getting official reports on jobs and inflation.
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Think about that. The Fed is trying to fly a plane in a storm, and Congress is about to tape over the altimeter. Traders hate flying blind. This uncertainty is why the 10-year Treasury yield has been sliding, recently sitting around 4.14%. People are running for the "safe" stuff.
Gold is Smashing Records
While stocks are bit twitchy, gold is having its best year in a generation. It’s sitting near $3,870 per ounce. That is a wild number. Gold is up about 46% year-to-date. When people get scared of politicians or worried that the Fed can’t stick the landing, they buy shiny yellow bars. It’s the ultimate "I don't trust the system" trade.
What’s Actually Happening in Global Markets News Today September 28 2025?
Beyond the Beltway drama, the real story is the AI-driven infrastructure boom. Even though we’ve had three straight days of declines leading into this weekend, the tech-heavy Nasdaq is still the star of 2025.
We aren't just talking about chatbots anymore. The market is now rewarding the "hardware" side of the equation. Companies like Western Digital and Seagate are seeing price targets hiked because the world needs hard drives to store all that AI data. It’s a bit like the gold rush: the guys selling the shovels are making more than the miners.
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- The S&P 500: It hit 27 new highs this year, but we’re seeing a slight pullback.
- Small Caps: The Russell 2000 finally hit a new all-time high this month—the first since 2021! This shows the rally is "broadening out" beyond just the Nvidia-style giants.
- The Fed's Pivot: Chairman Powell is clearly more worried about jobs than inflation right now. Inflation is sticky at 2.9%, but hiring has slowed to a crawl (only 22,000 jobs added in August).
The "Liberation Day" Factor
You might remember the "Liberation Day" tariff announcements from earlier this year. Well, the bill is coming due. We’re starting to see those costs seep into the economy. The furniture business is getting hammered because of import levies. Williams-Sonoma shares have been taking a hit. It’s a classic case of policy meeting reality.
Emerging Markets are the Surprise Winner
If you haven't looked at your international holdings lately, you might be surprised. Emerging markets (EM) are actually outperforming the U.S. right now. They’re up over 27% this year.
Why? Because the U.S. dollar is weakening as the Fed cuts rates. A weaker dollar is like a shot of adrenaline for countries like Brazil, India, and China. Investors are rotating cash out of expensive U.S. tech and into these "cheaper" growth stories. It's a rotation that most retail investors are completely missing.
What You Should Do Now
So, where does that leave you? Global markets news today September 28 2025 suggests we are in a "mid-cycle transition." That’s fancy talk for: things are getting bumpy, but the trend is still up.
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First, check your exposure to furniture and retail stocks that rely heavily on imports; the tariff pain isn't over. Second, don't panic if the government shuts down on Wednesday. These events are usually more about political theater than economic destruction.
Actually, the best move right now might be the boring one. Stay diversified. If you’ve made a killing in AI stocks, maybe trim a little and look at those emerging markets or even small caps that are finally waking up. And definitely keep an eye on that gold price—it’s telling us something about the long-term value of the dollar that the stock market isn't ready to admit yet.
The next few days will be loud. The news will be full of "Crisis in D.C." headlines. Just remember: the market has seen this movie before. Usually, the ending is a last-minute deal and a sigh of relief.