US stocks mostly climbed on Monday as investors eyed a looming US government shutdown that risks delaying the release of the monthly jobs report. The S&P 500 and Nasdaq Composite rose, while the Dow Jones slipped slightly. Odds of a shutdown are over 70%, keeping markets on edge.
Markets are assessing the odds of a US government shutdown this week, with a meeting between Trump and congressional leaders set for Monday. The risk is leaving doubts over releasing key economic data, including the monthly jobs report. Last week’s jobless claims and GDP growth have impacted Fed rate cut expectations.
Investors are regrouping after a losing week, with AI-focused stock trading showing cracks. Surprise tariff announcements from Trump for Oct. 1 added to the uncertainty. Despite this, stocks are still on pace to finish September and the third quarter with gains, boosted by tech stocks.
Electronic Arts announced a $55 billion acquisition deal, marking the largest leveraged buyout in history. The stock surged after the announcement, showing a 25% premium to shareholders. Carnival raised its profit forecast and posted better-than-expected earnings, while Nike’s report is awaited this week.
US stocks climbed on Monday despite a potential government shutdown. The Dow Jones and S&P 500 rose, building on Friday’s rebound after a dip last week. Investors are closely watching the looming shutdown’s impact on the economy and key economic data releases, including the monthly jobs report.
Alibaba shares climbed on Monday after analysts raised their price targets on the stock, citing the company’s accelerated push into AI. The Chinese tech giant’s gains in Hong Kong carried over to Wall Street, with the stock rising before the bell. Goldman Sachs has upgraded stocks to Overweight from Neutral.
Gold pushed to a new high, reaching over $3,800 an ounce, as government insecurity and a weak dollar increased demand for the safe-haven asset. Oil fell as OPEC+ considers raising output, suppressing prices. Brent fell below $70 a barrel, with West Texas Intermediate around $65.
Read more at Yahoo Finance: S&P 500, Nasdaq climb with government shutdown in focus