US EditionStock markets hit new highs despite U.S. economic data, government shutdown
Markets reached record highs as weak U.S. job data and a government shutdown fueled bets on Federal Reserve interest rate cuts, with the S&P 500 up 0.3%, analysts said.
- During recent months, the S&P 500 and the Dow Jones reached new highs despite political disruption, with markets largely ignoring the shutdown .
- ADP's private-payrolls estimate showed unexpected job losses, as the ADP survey reported a September decline of 32,000 jobs while the U.S. government shutdown delayed the U.S. Labor Department's monthly jobs report.
- Data from ADP and Institute for Supply Management pushed traders toward rate-cut bets as fiscal pressures and ISM showed manufacturing employment falling for an eighth month, while CME priced in Federal Reserve moves.
- The budget impasse between U.S. Democrats and Republicans forced a government shutdown that furloughed hundreds of federal workers, but Wall Street traders largely brushed off the turmoil and closed with gains.
- Bank of Canada policy and gold demand helped lift Canadian markets after the Sept. 17 rate cut to 2.5 per cent, while traders await the possibly delayed U.S. Bureau of Labor Statistics report.
14 Articles
14 Articles
Markets reach new highs despite U.S. government shutdown and economic ‘data vacuum’
TORONTO - Canada's main stock index reversed earlier losses to finish in positive territory and continue its streak of record highs, while U.S. markets also gained despite a U.S. government
Sask Today
Coast ReporterMarkets reach new highs despite U.S. government shutdown and economic 'data vacuum'
TORONTO — Canada's main stock index reversed earlier losses to finish in positive territory and continue its streak of record highs, while U.S. markets also gained despite a U.S. government shutdown preventing the release of economic data.
Stock markets hit new highs despite U.S. economic data, government shutdown
TORONTO — Canada’s main stock index continued to reach new highs, while U.S. markets also pushed further into record territory as investors shrugged off new data on the U.S. jobs market and a government shutdown. Theresa Shutt, chief investment officer at Harbourfront Wealth Management, said markets were “clearly not slowing down” on concerns about the […]
The Toronto Stock Exchange continued its record, closing Wednesday's session on a 0.28% gain, fuelled by the base metals sector. Major U.S. indices also increased, with investors ignoring new data on the U.S. labour market and the government's closure.
Coverage Details
Bias Distribution
- 72% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
