Wall Street Closes Up Despite Looming Shutdown Fears
Wall Street closed Tuesday's trading session in the green, with the benchmark S&P 500 and tech-focused Nasdaq Composite both gaining 0.4% and 0.3% respectively. However, concerns over a potential government shutdown loomed, with odds jumping above 80% on prediction markets. Meanwhile, consumer confidence slid more than expected in September.
The blue-chip Dow pushed up by 0.1%, while seven of the 11 S&P sectors finished in positive trading territory, led by Healthcare. The number of U.S. job openings climbed past the consensus in August, according to the JOLTS report, but a government shutdown could lead to permanent job losses and delay the release of the jobs report.
U.S. Treasury yields were mixed, with the 10-year yield at 4.14% and the 2-year yield at 3.60%. Energy suffered the most on the session as oil fell 1%. Vice President JD Vance predicted that a U.S. government shutdown seems certain to occur the next day, October 1, 2025, after failed high-level talks between Republicans and Democrats.
Despite the positive trading day, investors remain cautious due to the potential government shutdown. The impact on the economy and job market could be significant, with potential delays in the release of crucial economic data such as the jobs report.
