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Wall Street Ticks Higher to Recover some of Last Week's Loss
The S&P 500 rose 0.4% led by Big Tech as investors anticipate more Federal Reserve rate cuts despite concerns over a possible U.S. government shutdown.
- U.S. stocks climbed on Monday, recovering some losses from last week as the S&P 500 rose 0.4% and Dow gained 29 points by 9:35 a.m. Eastern time.
- The rise followed the Federal Reserve’s first rate cut of the year amid concerns about a slowing labor market and a looming government funding deadline midweek.
- Investors faced uncertainty as a possible government shutdown could delay key economic data releases, including the monthly jobs report due Friday, which influences market expectations.
- Jennifer Timmerman of Wells Fargo noted that while a government shutdown is expected to have a limited and short-lived effect on the economy, it could lead to some fluctuations in the financial markets. She recommended viewing any resulting market declines as opportunities to purchase preferred stocks at reduced prices.
- Despite concerns, investors are optimistic that steady economic data will allow the Federal Reserve to continue reducing interest rates, a factor that has helped drive stock indices close to their recent record levels established roughly a week prior.
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Wall Street Climbs Amid Federal Uncertainty, AI Hopes Wall Street indexes closed higher on Monday, driven by investor interest in heavyweight technology stocks despite the looming prospect of a U.S. government shutdown and hawkish remarks from Federal Reserve officials. The Nasdaq led the gains, with technology providing the biggest lift to the S&P 500 as investors focused on artificial intelligence growth and anticipated rate cuts amid inflatio…
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Coverage Details
Total News Sources60
Leaning Left19Leaning Right1Center30Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 38%
C 60%
Factuality
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