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The S&P 500, the Dow Jones, the Nasdaq and the Russell 2000 gained about 4.3%, 2.4%, 6.5% and 3.6%, respectively, over the past one month (as of Sept. 30, 2025). The key market movers of the month of September were the Fed rate cut and its accommodative guidance, host of AI deals, upbeat Q2 GDP data and Trump’s renewed tariff threats.
Thanks to stronger consumer spending, the U.S. economy grew at an unexpectedly robust 3.8% pace in Q2 of 2025, marking an upward revision of second-quarter growth released by the government.
The Commerce Department said Thursday that gross domestic product (GDP) bounced back in the spring after a 0.6% decline in the first quarter, which had been hit hard by trade tensions. The new estimate is higher than the previously reported 3.3% growth (per AP news, as quoted on Yahoo Finance).
Host of AI Deals Announced in September
While a part of the market experts is worrying about the payoffs of huge investments being made in artificial intelligence (AI), the pace of AI investments is showing no signs of abating. NVIDIA has announced investment plans in OpenAI (worth up to $100 billion). Meanwhile, NVIDIA announced a $5 billion investment in Intel. There has been a deal announced between Alibaba and NVIDIA (per RTT news).
CoreWeave announced an agreement with OpenAI to power the training of its most advanced next-generation models. Intel has reportedly approached Apple for an investment to fund its rebound, as quoted on Bloomberg. In short, the month has seen the mega-deals in AI space, which ensures the AI boom is in fine fettle and should be able to drive Wall Street in the coming months.
Also, there have been deals in quantum computing. Among the notable ones, IonQ announced its intent to acquire Vector Atomic. Rigetti announced a three-year contract with the Air Force Research Laboratory (AFRL). Meanwhile, Trump and Britain joined forces on advancing AI, quantum computing and nuclear technologies (read: Here's Why Semiconductor ETFs Are Hitting 52-Week Highs).
Moderate Comeback of Tariff Tensions
In a trio of posts on Truth Social on Sept. 25, 2025, President Trump announced that the U.S. will roll out a host of tariffs starting Oct. 1. The measures will cover imported kitchen cabinets, bathroom vanities, pharmaceutical products, and heavy trucks. Tariffs will range from 30% to 100%, though exemptions will apply to drugmakers currently building manufacturing plants in the United States, as quoted on Yahoo Finance.
Against this backdrop, below we highlight a few winning exchange-traded fund (ETF) investing areas of the month of September.
Bitcoin and other cryptocurrencies have been grabbing attention this year due to higher institutional and corporate adoption. This is benefitting crypto miners and crypto trading platforms. President Trump’s announcement of creating a crypto reserve also bodes well for the crypto ecosystem.
Silver Mining
iShares MSCI Global Silver and Metals Miners ETF (SLVP - Free Report) – Up 29.4%
Silver bullion ETF iShares Silver Trust (SLV - Free Report) gained 17.9% over the past one month (as of Sept. 26, 2025). Silver prices have gained due to their increased safe-haven appeal as well as higher industrial demand. As mining stocks often act as leveraged plays of the underlying metal, silver mining ETFs have gained massively in September.
The AI industry's expansion has led to an increased need for clean and sustainable energy sources, which includes hydrogen as a potential fuel. An IEA report said that by 2026, the AI industry is expected to consume at least 10 times the electricity demand it had in 2023, as quoted on a CNBC article issued in April 2024.
The hydrogen market is expected to grow massively. It could reach a valuation of $312.9 billion by 2030, marking a CAGR of 6.80%, per a markets and markets research report. Surging demand for low-emission and sustainable energy is driving the upside in global hydrogen stocks, per the markets and markets report.
Electricity needs are increasing globally and triggering investors’ and industries’ interest in nuclear energy. However, the sector faces regulatory and cost hurdles (as quoted on World Nuclear Association), but momentum is returning after years of stagnation, with record nuclear generation of 2667 TWh in 2024, per the World Nuclear Association.
Nuclear remains the second-largest source of low-emission electricity after hydropower (per IEA). Tech giants (in order to power their AI push) and heavy industries are increasingly turning to nuclear to meet rising power needs. Since uranium is the key fuel used in most nuclear reactors, the demand for uranium is rising fast (read: Nuclear ETFs Up At Least 40% in the Past Year: More Gains in Store?).
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Best-Performing ETF Areas of September
The S&P 500, the Dow Jones, the Nasdaq and the Russell 2000 gained about 4.3%, 2.4%, 6.5% and 3.6%, respectively, over the past one month (as of Sept. 30, 2025). The key market movers of the month of September were the Fed rate cut and its accommodative guidance, host of AI deals, upbeat Q2 GDP data and Trump’s renewed tariff threats.
Fed Rate Cut to Address Weakening Labor Market
The Fed enacted its first rate cut of 2025 in September and also hinted at further cuts this year.At the time of writing, there are 5.4% chances of a 25-bp rate cut in the October meeting, per the CME FedWatch Tool, while chances of a 50-bp cut is 94.6% (read: Fed Cuts Rates & Hints at Two More Cuts in 2025: ETFs to Play).
Upbeat U.S. GDP Growth
Thanks to stronger consumer spending, the U.S. economy grew at an unexpectedly robust 3.8% pace in Q2 of 2025, marking an upward revision of second-quarter growth released by the government.
The Commerce Department said Thursday that gross domestic product (GDP) bounced back in the spring after a 0.6% decline in the first quarter, which had been hit hard by trade tensions. The new estimate is higher than the previously reported 3.3% growth (per AP news, as quoted on Yahoo Finance).
Host of AI Deals Announced in September
While a part of the market experts is worrying about the payoffs of huge investments being made in artificial intelligence (AI), the pace of AI investments is showing no signs of abating. NVIDIA has announced investment plans in OpenAI (worth up to $100 billion). Meanwhile, NVIDIA announced a $5 billion investment in Intel. There has been a deal announced between Alibaba and NVIDIA (per RTT news).
CoreWeave announced an agreement with OpenAI to power the training of its most advanced next-generation models. Intel has reportedly approached Apple for an investment to fund its rebound, as quoted on Bloomberg. In short, the month has seen the mega-deals in AI space, which ensures the AI boom is in fine fettle and should be able to drive Wall Street in the coming months.
Also, there have been deals in quantum computing. Among the notable ones, IonQ announced its intent to acquire Vector Atomic. Rigetti announced a three-year contract with the Air Force Research Laboratory (AFRL). Meanwhile, Trump and Britain joined forces on advancing AI, quantum computing and nuclear technologies (read: Here's Why Semiconductor ETFs Are Hitting 52-Week Highs).
Moderate Comeback of Tariff Tensions
In a trio of posts on Truth Social on Sept. 25, 2025, President Trump announced that the U.S. will roll out a host of tariffs starting Oct. 1. The measures will cover imported kitchen cabinets, bathroom vanities, pharmaceutical products, and heavy trucks. Tariffs will range from 30% to 100%, though exemptions will apply to drugmakers currently building manufacturing plants in the United States, as quoted on Yahoo Finance.
Against this backdrop, below we highlight a few winning exchange-traded fund (ETF) investing areas of the month of September.
Digital Economy
CoinShares Bitcoin Mining ETF (WGMI - Free Report) – Up 38.2%
Global X Blockchain ETF (BKCH - Free Report) – Up 26.9%
Bitcoin and other cryptocurrencies have been grabbing attention this year due to higher institutional and corporate adoption. This is benefitting crypto miners and crypto trading platforms. President Trump’s announcement of creating a crypto reserve also bodes well for the crypto ecosystem.
Silver Mining
iShares MSCI Global Silver and Metals Miners ETF (SLVP - Free Report) – Up 29.4%
Amplify Junior Silver Miners ETF (SILJ - Free Report) – Up 28.7%
Silver bullion ETF iShares Silver Trust (SLV - Free Report) gained 17.9% over the past one month (as of Sept. 26, 2025). Silver prices have gained due to their increased safe-haven appeal as well as higher industrial demand. As mining stocks often act as leveraged plays of the underlying metal, silver mining ETFs have gained massively in September.
Hydrogen
Global X Hydrogen ETF (HYDR - Free Report) – Up 26.7%
The AI industry's expansion has led to an increased need for clean and sustainable energy sources, which includes hydrogen as a potential fuel. An IEA report said that by 2026, the AI industry is expected to consume at least 10 times the electricity demand it had in 2023, as quoted on a CNBC article issued in April 2024.
The hydrogen market is expected to grow massively. It could reach a valuation of $312.9 billion by 2030, marking a CAGR of 6.80%, per a markets and markets research report. Surging demand for low-emission and sustainable energy is driving the upside in global hydrogen stocks, per the markets and markets report.
Uranium Miners
Sprott Junior Uranium Miners ETF (URNJ - Free Report) – Up 24.6%
Electricity needs are increasing globally and triggering investors’ and industries’ interest in nuclear energy. However, the sector faces regulatory and cost hurdles (as quoted on World Nuclear Association), but momentum is returning after years of stagnation, with record nuclear generation of 2667 TWh in 2024, per the World Nuclear Association.
Nuclear remains the second-largest source of low-emission electricity after hydropower (per IEA). Tech giants (in order to power their AI push) and heavy industries are increasingly turning to nuclear to meet rising power needs. Since uranium is the key fuel used in most nuclear reactors, the demand for uranium is rising fast (read: Nuclear ETFs Up At Least 40% in the Past Year: More Gains in Store?).