Stock market climbs as shutdown fears loom

Market Overview - U.S. stocks are nearing the end of a winning month, with the S&P 500 down 0.2% but on track for a fifth consecutive winning month after a record-setting week [2] - The Dow Jones Industrial Average decreased by 145 points, or 0.3%, while the Nasdaq composite fell by 0.3% [2] Oil Sector Impact - Oil-related companies negatively impacted the market as crude prices fell, attributed to an oversupply of oil globally [3] - Schlumberger's stock dropped by 3.8%, and Halliburton's fell by 3% [3] Notable Company Developments - CoreWeave's stock surged by 12.7% after announcing a deal with Meta Platforms worth up to $14.2 billion for cloud computing services [3] - Spotify Technology's shares fell by 6.4% following the announcement of CEO Daniel Ek stepping down to become executive chairman, with two co-CEOs appointed [11] - Lamb Weston saw a 4.1% increase in stock price after reporting stronger-than-expected quarterly profits [11] Economic Indicators - Mixed reports on the U.S. economy showed consumer confidence lower than expected, with concerns over a slowing job market and persistent inflation [4] - Job openings remained stable at the end of August, indicating a "low-hire, low-fire" state in the job market [5] Federal Reserve and Interest Rates - The Federal Reserve recently cut interest rates for the first time this year, with more cuts anticipated through the end of next year to support the job market [7] - The stock market's performance has been buoyed by expectations of further rate cuts, although concerns about high valuations persist [8] Government Shutdown Concerns - A potential U.S. government shutdown looms, which could delay important economic reports, including job creation data for September [9][10] - Historically, the S&P 500 has performed positively during past shutdowns, averaging a 4.4% increase [9]