Dow, S&P 500, Nasdaq End Higher; Government Shutdown Risk; Nvidia, Tesla, Intel, Electronic Arts, and More Movers
Stocks continued to grind higher on Monday as Wall Street tuned into the latest updates out of Congress on efforts to avert a government shutdown.
The Dow Jones Industrial Average rose 69 points, or 0.2%. The S&P 500 was up 0.3%. The Nasdaq Composite was up 0.5%.
The yield on the 2-year Treasury note was down to 3.63%. The 10-year yield was down to 4.14%.
The market began the day trading mostly higher, shrugging off the threat of a possible government shutdown. Such an event would hit the Bureau of Labor Statistics, which is otherwise set to release a key September nonfarm payrolls report on Friday.
“Volume is up 5% but it feels a little slower than that,” writes Mizuho’s Daniel O’Regan. “We are seeing pockets of activity in real world economy sectors (industrials, utilities) and healthcare.”
O’Regan notes tech was leading, but such stocks were still off their highs from earlier in the month.
The S&P 500 is up more than 3% during a month of September, which has historically been a negative period. The index could mark its best September since 2010 depending on how things shake out on Tuesday. Traders will be paying close attention to updates out of Washington, D.C.
