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On October 1, Goldman Sachs stated that the inflation data released by the U.S. on Wednesday, along with remarks made by New York Fed President John Williams yesterday, led them to believe that a rate hike by the Federal Reserve in October is now unlikely. Economists Jan Hatzius, David Mericle, and Alec Phillips noted in a research report that based on the latest inflation report, the core PCE year-over-year growth rate is expected to be 3.0% in the fourth quarter, significantly lower than the FOMC participants' median forecast of 3.4%. As a result, the bank has postponed its expectation for the second rate hike to December, while also considering the possibility that the FOMC will ultimately determine that no further rate hikes are necessary.
On October 1, the Dallas Federal Reserve's anonymous survey of 100 oil and gas companies revealed that nearly half of the respondents expect diesel prices to take more than four quarters to return to 2025 levels. On Monday, U.S. President Trump and his advisors discussed whether to advance a ban on diesel exports, hoping to lower domestic diesel prices by restricting exports.
On September 30, TechCrunch reported that Berlin-based persistent workflow infrastructure company Restate has completed a $20 million Series A funding round, led by Singular, with participation from Redpoint and Capital One Ventures. Its execution engine enables multi-step workflows to withstand crashes and network interruptions, with demand surging due to AI agents operating longer and following more unpredictable paths. Recently, the company has signed multiple six- and seven-figure customer contracts, including with the vibe coding platform Replit. The new funding will be used to build a marketing team, expand engineering, and grow its office in the San Francisco Bay Area, while challenging industry heavyweight Temporal, which was recently valued at $12.55 billion.
On September 30, Apple and Google, the second and third largest companies by market capitalization in the U.S. stock market, both rose over 3%. Apple's stock price increased by 3.02%, reaching $339.350 per share, with a total market capitalization of $4.95 trillion. Google's Class A stock price rose by 3.3%, reaching $352.185 per share, with a total market capitalization of $4.31 trillion.
On September 30, Synopsys (SNPS.US) shares rose over 3%, reaching a high of $429.48. In news, Synopsys has signed a multi-year strategic agreement worth over $1 billion with Amazon, aiming to expand their collaboration in the custom chip sector. Under the agreement, Amazon will further adopt Synopsys' chip IP, EDA, and AI engineering technologies for the development of AWS's self-developed chips and infrastructure; meanwhile, Synopsys will utilize Amazon Web Services and AI tools like Bedrock to accelerate its own product development.
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