US EditionWorld Shares Advance as Investors Shrug Off US Government Shutdown
The S&P 500 closed above 6,700 for the first time as tech shares surged on a South Korean chipmaker and OpenAI partnership, despite delayed economic data.
- During the government shutdown Wednesday, traders on the New York Stock Exchange pushed stocks to records, with the S&P 500 at 6,711.20 and the Dow at 46,441.10.
- Expectations for coming interest-rate cuts lifted prices as investors on Wall Street hoped a slowing job market would prompt Federal Reserve easing.
- The Labor Department's Friday report faces delay, and prediction markets bet the closure could last almost two weeks, while ADP Research reported private payrolls fell 32,000 in September.
- U.S. futures and oil rose as markets reacted, with U.S. benchmark crude oil adding 10 cents to $61.84 and Brent crude edging up to $65.40 on Thursday.
- BofA found the S&P 500 index averages a 1% gain around closures, while gold has risen more than 37% in the past year despite a short-term pullback.
22 Articles
22 Articles
US stocks drift near their records as Wall Street keeps ignoring DC’s shutdown
D.C.’s shutdown means this week’s report on jobless claims has been delayed. An even more consequential report, Friday’s monthly tally of jobs created and destroyed across the economy, will likely also not arrive on schedule.
Despite the budgetary blockage in the United States, investors keep smiling, betting on a forthcoming gesture by the US central bank. ...
US, European stocks hit record highs as investors shrug off US shutdown impact
By Iain Withers and Koh Gui Qing NEW YORK/LONDON (Reuters) -Global stocks gained and gold traded near record highs on Thursday as investors took in their stride the potential ramifications of a U.S. government shutdown, while a weak private U.S. labor market report bolstered bets for Federal Reserve rate cuts. Investors have been largely sanguine about the shutdown's impact on the markets and economy, helped by data of past shutdowns that showed…
Coverage Details
Bias Distribution
- 75% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
