Stock indexes showed mixed performance today, with the S&P 500 and Dow Jones up, and the Nasdaq down. US-China trade tensions escalated as China sanctioned US units of a South Korean shipbuilder, impacting global trade. Precious metals surged to record highs, and bond yields dropped amid trade turmoil and haven demand. US small business optimism fell below expectations.

Fed Chair Powell’s speech hinted at potential rate cuts as the US government shutdown continues, delaying key economic reports. Markets await trade developments and bank earnings. Rising corporate profit expectations offer support, but Q3 earnings growth is slowing. Markets predict a 98% chance of a rate cut at the next FOMC meeting.

Overseas markets fell, with European bond yields dropping. Economic growth expectations in Germany weakened. UK employment data disappointed, and the ECB is unlikely to cut rates. Chipmakers dragged down US stocks, including tech giants. Cryptocurrency-linked stocks suffered losses. Goldman Sachs reported lower-than-expected revenue.

Stocks like Polaris Inc. and Wells Fargo rose, while Walmart announced a partnership with OpenAI. Domino’s Pizza and ARM Holdings Plc also posted gains. Earnings reports for companies like Citigroup and JPMorgan Chase are awaited. The market outlook remains uncertain amid ongoing trade tensions and economic data delays.

Read more at Nasdaq: Stocks Turn Mixed as Walmart-OpenAI Deal Pushes Dow Higher