Wall Street Mixed as Government Shutdown Fears Grow
Wall Street experienced a mixed day on Tuesday. The Dow Jones Industrial Average closed slightly higher, while the S&P 500 and Nasdaq 100 finished in the red. Meanwhile, fears of a US government shutdown are growing, with President Donald Trump considering layoffs in the public sector.
The Dow Jones Industrial Average inched up by 0.1 percent to 46,349 points, marking a nearly two percent gain for the month of September and around a five percent increase for the third quarter. However, the S&P 500 and Nasdaq 100 couldn't maintain the momentum, dropping by 0.1 percent to 6,656 points and 0.2 percent to 24,563 points, respectively.
Market analysts are keeping an eye on potential political developments. A trader warns that a shutdown this week is increasingly likely and could be more severe than usual. Despite these concerns, a market analyst from IG, Christian Henke, believes a 'shutdown' is manageable for the markets. The Nasdaq, however, remains resilient, on track for a nearly five percent gain in September and over eight percent for the quarter.
The Dow Jones Industrial Average closed slightly higher, while the S&P 500 and Nasdaq 100 finished lower on Tuesday. Fears surrounding a potential US government shutdown, including layoffs and delayed economic data release, are growing. Market analysts remain cautiously optimistic, with the Nasdaq maintaining strong gains for the month and quarter.
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