US stocks maintain upward momentum

VTV.vn - Wall Street continued to maintain its upward momentum last night, as investors were generally not too concerned about the continued US government shutdown.

US stocks maintain upward momentum - Photo: THX

At the close, the S&P 500 and Nasdaq indexes both set new records, with the Nasdaq rising more than 1% thanks to the push from many large technology stocks such as Nvidia and AMD. The Dow Jones was flat with a fluctuation of just over 1 point.

Chip stocks outperformed, while energy, consumer staples and homebuilding lagged. The declines came as a report from the Mortgage Lenders Association showed home loan demand fell 4.7% last week despite lower interest rates.

The dominant theme in the market remains the strong growth in AI, said Bill Merz, head of Capital Markets Research at US Bank Wealth Management in Minneapolis. He noted that anything related to AI is attracting significant attention.

Meanwhile, the US government shutdown entered its eighth day, leaving markets without official economic indicators to guide trading until the third-quarter earnings season kicks off next week.

In the absence of data, investors focused on the minutes of the September meeting of the Federal Open Market Committee (FOMC) – the Fed's policy-making body – for clues on the central bank's intentions regarding rate cuts.

Minutes showed policymakers were concerned about rising labor market risks but remained cautious about inflation. And while most members judged that further policy easing for the rest of the year would likely be appropriate, the timing and pace of further cuts remained an open question.

Financial markets are now betting on a near-certainty (92.5%) chance that the Fed will cut interest rates by 0.25 percentage points this month.

Source: https://vtv.vn/chung-khoan-my-duy-tri-da-tang-100251009084902408.htm