Nasdaq, Dow, and S&P 500 are all up as threat of government shutowon looms
Fastcompany·2025-09-29 13:51

Market Overview - Wall Street experienced a rise early Monday, with S&P 500 futures up 0.5%, Dow Jones futures up 0.4%, and Nasdaq futures up 0.6% despite concerns over a potential U.S. government shutdown [2] - The government is set to run out of funding on Wednesday, with a bleak outlook for a last-minute compromise between Republicans and Democrats [2] - A government shutdown could delay the release of critical economic data, including the comprehensive September jobs report scheduled for Friday [2] Economic Indicators - The Federal Reserve recently cut its benchmark lending rate due to concerns about a cooling labor market, while inflation remains above the 2% target [2] - Inflation in the U.S. accelerated to 2.7% in August from 2.6% in July, raising hopes for further interest rate cuts by the Fed [2] Corporate Developments - GSK's shares rose 2.8% following the announcement of CEO Emma Walmsley's resignation effective December 31, with Luke Miels set to replace her [2] - Electronic Arts' shares jumped 5.7% after the company agreed to a $55 billion buyout to go private [2] International Markets - In Europe, the CAC 40 rose 0.2%, FTSE increased by 0.4%, while the German DAX remained unchanged [2] - Asian markets showed mixed results, with Tokyo's Nikkei 225 down 0.7%, while Chinese markets advanced, with the Hang Seng and Shanghai Composite both gaining 0.9% [2] Commodity Trading - U.S. benchmark crude oil prices fell by nearly 2%, down $1.29 to $64.43 per barrel, while Brent crude declined $1.25 to $67.97 per barrel amid concerns over potential oversupply [2] - Gold prices rose 1.2% to a record $3,854.60 per ounce [2]