Fed Governor Mester: US Economy Still Needs More Monetary Support

Micron Technology's board of directors has approved an expanded stock repurchase plan, which will take effect starting in December. According to Micron’s 10-K filing, the board “approved increasing the maximum amount of common stock that may be repurchased at the company’s discretion to $35.16 billion, effective December 9.” Previously, Micron had approved a $10 billion stock repurchase program, of which approximately $2.2 billion remained unused.

The Dow Jones closed up 0.83%, the Nasdaq rose 0.64%, and the S&P 500 gained 0.59%. Among the most actively traded stocks, Micron Technology fell 0.66%, Nvidia declined 0.52%, SpaceX increased 1.25%, and Tesla rose 2.05%.

As Category 3 Hurricane Isaias approaches the U.S. Gulf Coast, local oil producers have suspended around 1.46 million barrels per day of crude oil production, accounting for 72% of the region's total output. According to the U.S. Bureau of Ocean Energy Management, as of 12:00 p.m. Eastern Time on Friday (midnight Beijing time on October 10), workers have been evacuated from 129 offshore platforms, and two mobile drilling rigs have been relocated out of the storm's path. BP has shut down production at the Thunder Horse and Na Kika platforms and evacuated non-essential personnel from three other platforms. The supply interruption has pushed Gulf of Mexico crude oil prices higher, with Mars crude currently carrying a premium of about $3 per barrel over WTI crude, and Thunder Horse crude maintaining a premium of more than $4 per barrel for two consecutive trading days.

According to Business Insider, Google (GOOG.US) is internally testing a new AI model called Carbon, and employees say its programming capabilities are comparable to Claude Opus 5.5.