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Wall Street indexes end slightly higher as US government shutdown looms
The S&P 500 rose 0.4% to close its fifth straight winning month despite shutdown risks, supported by strong deals and limited historical market impact from government closures.
- On Tuesday, the Standard & Poor's 500 rose 0.4% to close out its fifth straight winning month after setting a record last week, while the Dow gained 0.2% and the Nasdaq rose 0.3%.
- With a midnight deadline approaching, the U.S. government faced a potential shutdown while President Donald Trump issued softwood timber and lumber tariffs effective Oct. 14.
- CoreWeave surged 11.7% after Meta Platforms announced a $14.2 billion cloud contract, while Spotify Technology sank 5.4% after founder Daniel Ek stepped down as CEO.
- A government shutdown would delay Friday's jobs report and halt Bureau of Labor Statistics operations, the Department of Labor said, increasing Wall Street's sensitivity amid uncertain Federal Reserve policies.
- History suggests past shutdowns produce limited market damage, with the S&P 500 climbing an average of 4.4%, while investors expect more Federal Reserve rate cuts through next year.
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Despite rising tensions in Washington, U.S. shares managed to rise slightly on Tuesday. Investors were forced to balance persistent market optimism with the imminent threat of President Trump’s latest “blitz” of tariffs and the certainty that the U.S. government is heading toward its first closure in seven years. Against all odds, Wall Street’s main indices closed in green. Dow Jones Industrial Average (^DJI) rose by 0.2%, setting a new closing …
Coverage Details
Total News Sources56
Leaning Left13Leaning Right6Center24Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 30%
C 56%
14%
Factuality
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