Market Updates
U.S. Indexes Hold Steady Amid Worry About U.S. Government Shutdown
Barry Adams
01 Oct, 2025
New York City
Stock market indexes in New York dipped on Wednesday after the White House ordered the government shutdown for the lack of funding.
The S&P 500 index decreased 0.4%, and the tech-heavy Nasdaq Composite fell 0.5% amid worries about the length of the latest federal government shutdown.
The Republican Senate failed to pass a spending bill, triggering a government shutdown at midnight on Tuesday.
The Congressional Budget Office estimated that the federal government shutdown will result in the furlough of about 750,000 employees.
The shutdown is likely to weigh on the market amid a cooling job market and inflation risks, compounded by record-high stock valuations.
The yield on the 10-year U.S. Treasury inched higher by 1.5 basis points to 4.17%, and gold rebounded to a new record high above $3,890 per ounce following the rise in demand for safe-haven assets amid the federal shutdown.
U.S. Stock Movers
Nike Inc. jumped 4.4% to $72.79 after the athletic footwear maker reported a surprise increase in sales of 1% to $11.7 billion in the fiscal first quarter.
The company had previously guided sales to decline in mid-single-digit percentages in the quarter.
Net income dropped 31% to 49 cents per share, and gross margin declined 3.2 percentage points to 42.2%, indicating that the company is still struggling with unsold inventories.
Lithium Americas Corp. jumped 36% to $7.81 after the U.S. Energy Department announced plans to take a direct 5% stake in the Canadian company and an additional 5% stake in the company's lithium mine, Thacker Pass, in exchange for debt.
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