The deal-making on Wall Street picked up pace, and investors overlooked the ongoing federal government shutdown. The S&P 500, the Nasdaq Composite, the Tollbooth Strategy Index, and gold hovered near new record highs.
Investors remained optimistic about the upcoming earnings season and durability of the AI-powered market rally. However, uncertainty linked to the federal government shutdown kept market enthusiasm in check.
U.S. benchmark indexes continued their ascent to new record peaks, powered by AI stocks. For the week, the S&P 500, the Nasdaq Composite, and the Tollbooth Strategy Index are set to advance 1.5%.
Investors continued to overlook the federal government's partial shutdown for the second day, and the fate of medical insurance premiums for 4.2 million individuals hung in the balance.
Cautious comments from Fed Chair Powell dented market enthusiasm, and investors worried about the circular AI trade. In the week ahead, investors are looking forward to the release of labor market updates.
Wall Street indexes lacked direction on Friday as investors grappled with a growing list of worries linked to the U.S. trade policy, the federal government's operations, and future rate paths.
Investors turned cautious amid growing worries about the durability of the AI-driven tech rally. Cooling jobs market, elevated consumer goods prices, home affordability issues dominated market sentiment ahead of the possible federal government shutdown.
Market sentiment weakened after the Fed Chair's comments about the future rate-cut path, challenging macroeconomic conditions, and stock market valuations.
The S&P 500 index and the Nasdaq Composite lacked direction amid ongoing U.S. trade and immigration policy uncertainties after the levy of sky-high fees on work visas.
The S&P 500 index and the Nasdaq Composite are set to extend the rally to the third consecutive week after the Federal Reserve delivered on the widely anticipated rate cuts.
Wall Street indexes meandered after the Fed's rate decisions and economic projections. August's housing starts and building permits highlighted ongoing difficulties in the labor market and rising costs of imports.
