Dow and S&P 500 post record closing highs, Nasdaq eases

Market Performance - The Dow and S&P 500 reached record closing highs, while the Nasdaq experienced a decline [1] - The S&P 500 gained 0.47 points (0.01%) to close at 6,715.82 points, the Nasdaq Composite lost 63.19 points (0.28%) to 22,780.86, and the Dow Jones Industrial Average rose 242.00 points (0.52%) to 46,761.72 [4] Economic Indicators - The US government shutdown continued for a third day, with a survey indicating the services employment index contracted for the fourth consecutive month, reinforcing the case for potential interest rate cuts by the Federal Reserve [2][3] - The market's expectation for a Fed rate cut has increased since the shutdown began, influenced by weaker economic data [3] Company-Specific Developments - Shares of Applied Materials fell after the company forecasted a $600 million hit to fiscal 2026 revenue [1] - Tesla's shares also declined, while S&P 500 utilities saw gains [1] - USA Rare Earth shares rose following CEO Barbara Humpton's comments about close communication with the White House [6]