Why the US government shutdown could stretch into November, gold's 8-week run

Market Overview - The Dow ended slightly down by about 16 points, while the NASDAQ gained approximately 0.5% and the S&P 500 was just under that [2][3] - The Russell 2000 index reached another record closing high, indicating strong performance in small-cap stocks [2] Sector Performance - Real estate led the sectors with an increase of nearly 1.5%, followed by utilities, technology, and communication services [3] - Underperformers included cyclical trades such as materials and industrials, with energy and financials also finishing slightly down [4] Notable Stock Movements - In the NASDAQ 100, Broadcom and Alphabet each saw gains of over 2%, while Tesla and Meta were up more than 1% [4] - Major banks like JP Morgan and Morgan Stanley performed well, with JP Morgan up over 1% and Morgan Stanley up more than 4% [5][7] Gold and Precious Metals - Gold prices have surged due to US-China trade tensions and increased expectations for a Federal Reserve rate cut, with gold up about 50% year-to-date [7][12] - Bank of America projects a price target of $5,000 for gold by the end of 2026, indicating strong bullish sentiment [16] - Silver has also seen a significant rise, up 70% year-to-date, driven by structural supply deficits and increasing demand [17][18] United Airlines Earnings - United Airlines reported a slight revenue miss at $15.2 billion against an expected $15.28 billion, but beat EPS expectations with $2.78 versus $2.66 [34] - Premium cabin revenue rose 6% year-over-year, while loyalty revenue increased by 9%, indicating a shift towards higher-margin services [34] Motorsport Industry Growth - The average value of sponsorship in Formula 1 is significantly higher than in the NFL, at $6 million compared to $745,000 [43] - Total sponsorship in motorsports has more than doubled over the last five years, highlighting the industry's growth potential [44] Upcoming Earnings and Economic Data - Taiwan Semiconductor is expected to report strong earnings driven by demand for AI chips, with anticipated sales of about $33 billion [59] - Home builder confidence is forecasted to rise to 33 in October, signaling slight optimism in the housing market despite overall weak conditions [61]