US stocks maintain their upward momentum.

VTV.vn - Wall Street continued its upward trend last night, as investors were generally not overly concerned about the prolonged US government shutdown.

US stocks maintain their upward trend - Photo: THX

At the close of trading, the S&P 500 and Nasdaq indices both hit new record highs, with the Nasdaq rising more than 1% thanks to gains from major technology stocks like Nvidia and AMD. The Dow Jones, however, remained flat with a fluctuation of just over 1 point.

Chip stocks outperformed significantly, while energy, consumer staples, and housing construction lagged behind. This decline occurred amid a report from the Mortgage Lenders Association showing that demand for home loans fell 4.7% last week despite lower interest rates.

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

Meanwhile, the US government shutdown has entered its eighth day, leaving markets without official economic indicators to guide trading until the third-quarter earnings reporting 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 policymaking body – to look for clues about the central bank's intentions regarding interest rate cuts.

The meeting minutes revealed that policymakers were concerned about rising risks in the labor market but remained cautious about inflation. And while most members assessed that further easing of policy for the remainder of this year would likely be appropriate, the timing and pace of further cuts remained an open question.

Financial markets are currently betting on the almost certain (92.5%) probability 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