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TRENDING: $KOD Kodiak Sciences jumps 150% on Phase 3 win

Kodiak Sciences said its eye-disease drugs Zenkuda and tabirafusp-ted met primary endpoints in the pivotal Phase 3 DAYBREAK trial in wet AMD. It plans to file Zenkuda for approval in the fourth quarter, backed by five positive late-stage studies.

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TRENDING: $BA Boeing falls 6% as FAA delays 737 Max 10

The FAA is holding up certification of Boeing's long-delayed 737 Max 10 while it reviews a newly found software issue that could affect automated navigation in missed approaches. Southwest and United reportedly asked for planes without the flawed software, and Boeing shares dropped about 6%.

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The third quarter wraps up Wednesday, and the market heads into it with the Nasdaq Composite near a record, leaving investors watching four tests for whether the rally can hold through year-end, including upcoming economic data and earnings.

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PULSE: Markets are closed, here's the bigger picture.

Stocks closed the day with a mixed but broadly positive tone as investors kept buying AI-related equities, and after the closing bell Navitas Semiconductor surged on a new government contract while AMD announced an $8.2 billion acquisition of AI firm World Labs. The third quarter ends Wednesday, with a handful of upcoming data points and earnings likely to set the market's direction into year-end.

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Getty Images has only three days left to avoid default on its bonds as AI-generated imagery erodes its stock-photo business; its unsecured bonds are trading at 47 cents on the dollar and the stock is down 93% over the past year, with bankruptcy talks reportedly underway. $GETY #SSTK

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TRENDING: Fed's Cook flags AI and war as inflation drivers

Fed Governor Cook said she expects inflation pressure to continue in coming months from AI-fueled demand and the Middle East conflict, and that future rate moves will depend on incoming data. She also warned the Fed has limited tools if AI causes a temporary jump in unemployment.

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TRENDING: Global equity funds draw biggest inflow since July

Global equity funds took in $44.1 billion in the week to September 23, the largest weekly inflow since July 8, led by $37.6 billion into US funds. The swing follows a $22.3 billion outflow the prior week. $SPY

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TRENDING: Trump unveils $15 billion Iowa steel plant

Trump announced Mesabi Metallics will build a $15 billion steel mill in Iowa targeting 10 million tons a year and up to 8,000 jobs. The project lands ahead of the midterms, where voter frustration over the economy is a risk for Republicans. $NUE

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TRENDING: 30-year mortgage rate climbs to 7.50%

The average 30-year mortgage rate rose to 7.50%, the highest since April 2024, as the 10-year Treasury yield topped 5.2% in the final hour and stocks sold off into the close. The bond selloff is now stoking fears the economy could stall. $TLT

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TRENDING: Oil settles above $105 as Iran signals whipsaw

Brent crude settled at $105.28 a barrel, up 0.92%, and WTI at $92.60 as traders weighed contradictory signals on US-Iran nuclear talks, ranging from hints of sanctions relief to Iranian denials and a push to exit the NPT. Elevated energy costs keep feeding the inflation that is pressuring rates. $USO

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The third quarter ends Wednesday and investors are watching four tests that will determine if the record stock market rally can hold through year-end, after the Nasdaq closed last week at 27,068.72, just below its record high set earlier this month.

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PULSE: The closing bell rang, here's how it ended.

US stocks closed lower on Monday, with the Nasdaq falling 150 points as climbing Treasury yields and surging oil prices pressured automakers and broader equities, while gold dropped over 3%.

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Getty Images faces a bond deadline this week with Chapter 11 talks emerging, as its unsecured bonds trade at 47 cents on the dollar and the stock has fallen 93% in a year amid AI disruption to its stock-photo business. $GETY #SSTK

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$NVDA is trending

Nvidia Stock Gains on Record Buyback: Jim Cramer Gets His Wish