Dow, S&P 500, Nasdaq Notch Fresh Record Highs Despite Govt Shutdown
US equity markets pushed to fresh record closes on Thursday as dip buyers stepped in despite a lack of key economic data due to the ongoing
Quick overview
- US equity markets reached new record closes on Thursday, driven by dip buyers despite the ongoing government shutdown.
- The second day of the shutdown delayed key economic data, including weekly jobless claims and factory orders, increasing market uncertainty.
- Private economic data showed a decline in announced layoffs, providing some support for the US dollar and investor sentiment.
- All major US indices closed higher, with the Russell 2000 outperforming, indicating renewed optimism for smaller firms amid cautious risk appetite.
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US equity markets pushed to fresh record closes on Thursday as dip buyers stepped in despite a lack of key economic data due to the ongoing government shutdown.
A Day of Resilience Amid Data Delays
US stock markets wavered midway through the session but recovered as buyers re-entered, lifting the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average to marginal new highs by the close. The rebound highlighted investors’ willingness to stay engaged even as headline risks remain elevated.
The second day of the US government shutdown delayed the release of weekly jobless claims and factory orders, adding to the uncertainty ahead of the now-postponed September jobs report. Economists had anticipated a 52,000 gain in nonfarm payrolls, but markets will have to wait for fresh labor market signals.
Encouraging Private Data Supports Sentiment
While official reports were missing, private economic data offered a positive surprise. The Challenger job cuts report showed 54,064 announced layoffs in September, a notable decline from 85,979 in August, offering some relief and modest support for the US dollar.
Broader Market Gains and Sector Rotation
All major US benchmarks ended Thursday higher, reflecting steady—albeit cautious—risk appetite as earnings season winds down. The Russell 2000 outperformed, suggesting renewed optimism for smaller domestic firms, while the Nasdaq Composite’s gains underscored continued investor confidence in tech-led growth.
The S&P 500 and Dow Jones Industrial Average posted smaller but solid advances, highlighting a balanced market that is embracing risk while remaining attentive to macroeconomic headwinds.
Closing Levels for Main US Indices
- S&P 500: Ended at 6,715.35 points, rising +4.15 points (+0.1%), as strength in energy and consumer discretionary stocks offset weakness in utilities.
- Nasdaq Composite: Closed at 22,844.05 points, gaining +88.89 points (+0.4%), with technology shares leading the day’s advance.
- Dow Jones Industrial Average (DJIA): Finished at 46,519.72 points, up +78.62 points (+0.2%), supported by industrial and financial sectors.
- Russell 2000: Jumped to 2,458.49 points, up +16.14 points (+0.6%), as small-cap stocks outperformed on renewed buying interest in regional banks and growth companies.
Looking Ahead
Investors remain focused on when delayed government data will be released, particularly the jobs report, which could influence expectations for future Federal Reserve policy moves. For now, the market’s resilience points to underlying confidence in corporate earnings and the broader economy, even as uncertainty lingers over Washington’s budget impasse.
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