Economic Impact - The ongoing US government shutdown is delaying key economic reports, including unemployment claims and payroll reports, which could lead to an increase in jobless claims and an unemployment rate rise to 4.7% [1] - Boston Fed President Susan Collins indicated that with inflation risks contained but employment risks heightened, it is prudent to normalize policy further to support the labor market [2] Market Sentiment - The escalation of trade tensions between the US and China, along with the government shutdown, has led to increased demand for precious metals, with gold reaching an all-time high [4] - Dovish comments from the Fed have bolstered expectations for a potential interest rate cut at the upcoming FOMC meeting [5][9] Stock Market Performance - Stock indexes are rising, supported by better-than-expected quarterly earnings results, particularly in the technology sector, with notable gains from chipmakers and financial institutions [6][16] - The S&P 500 Index is up by 0.73%, while the Dow Jones and Nasdaq indexes have also shown positive movement [7] Earnings Season Insights - The Q3 earnings season is underway, with 71% of S&P 500 companies that have reported so far beating forecasts, although overall profit growth is expected to be the smallest in two years at 7.2% year-over-year [8] - Companies like Morgan Stanley and Bank of America reported solid Q3 earnings, contributing to positive market sentiment [16][17] Interest Rates and Bond Markets - The 10-year T-note yield has fallen to a 4-week low of 4.0%, influenced by dovish Fed comments and falling inflation expectations [10][11] - European government bond yields are also declining, with the 10-year German bund yield dropping to a 3.25-month low of 2.57% [13]