US stocks set new records despite continued government shutdown

Wall Street stocks ended the session at new record highs once again, as the US government entered its second day of a budget shutdown.

Traders at the stock exchange in New York, USA. Photo: THX/TTXVN

President Donald Trump has signaled plans to lay off federal workers amid budget talks deadlock. A Senate vote is scheduled for October 3 (local time) on a resolution passed by the House of Representatives to maintain government funding at current levels until November 21.

Following a day of gains on major exchanges in Europe and Asia, US stocks briefly dipped into negative territory. However, all three major indexes ended the day in the green and set new records. Specifically, in New York, the Dow Jones Industrial Average rose 0.2% to 46,519.72 points. The S&P 500 Index rose less than 0.1% to 6,715.35 points at the close, while the Nasdaq Composite Index advanced 0.4% to 22,844.05 points.

Earlier, both the Dow Jones and S&P 500 indexes also ended the October 1 session at record levels, partly due to expectations that the US Federal Reserve (Fed) will cut interest rates later this month.

Sam Stovall of CFRA Research said investors don't really expect the shutdown to end anytime soon, which could mean the Fed taking a more cautious approach to monetary policy, meaning a rate cut in October.

In Europe, the situation was somewhat more mixed. The FTSE 100 index in London (UK) fell 0.2% to 9,427.73 points at the close. In contrast, the CAC 40 index in Paris (France) rose 1.1% to 8,056.63 points. The DAX index in Frankfurt (Germany) advanced 1.3% to 24,422.56 points.

The excitement surrounding Asian tech stocks on October 2 spread to Europe after South Korea’s largest chip companies, Samsung and SK Hynix, reached a deal to provide artificial intelligence (AI) infrastructure for OpenAI’s Stargate project. European tech stocks rose, with ASML up 4.5% and STMicroelectronics and Schneider Electric both up more than 2%.

In the domestic market, at the end of the trading session on October 2, the VN-Index decreased by 12.34 points (0.74%) to 1,652.71 points. The HNX-Index decreased by 3.67 points (1.34%) to 269.55 points.

Source: https://baotintuc.vn/kinh-te/chung-khoan-my-lap-ky-luc-moi-bat-chap-chinh-phu-tiep-tuc-dong-cua-20251003074023082.htm