Markets Brush Off US Shutdown Threat, Dow Jones Closes Higher
Markets remained largely unfazed despite looming threats of a US government shutdown. The Dow Jones closed slightly higher, while the S&P 500 and Nasdaq 100 saw minor losses.
US President Donald Trump has warned about potential mass layoffs and dismissals if a shutdown occurs. Despite these concerns, investors have reacted with calm. The Dow Jones gained 0.1 percent to 46,349 points, marking a nearly two percent monthly gain and around five percent in the third quarter.
CoreWeave's shares soared after a deal with Meta sent the stock up by double digits. Market analyst Christian Henke from IG noted that while shutdowns aren't pleasant for markets, their impact on exchanges is manageable. An industry trader dismissed the recurring budget debate as routine, with new budget laws only being passed when old ones expire.
As the October start is overshadowed by the budget debate, markets seem to be ignoring the shutdown threat. The S&P 500 fell by 0.1 percent to 6,656 points, and the tech-heavy Nasdaq 100 lost 0.2 percent to 24,563 points. However, the Dow Jones managed to close slightly higher, indicating a degree of resilience amidst the political uncertainty.
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