US stocks: S&P 500 and Nasdaq both closed at record highs on October 8

Technology stocks helped push U.S. stocks higher on Friday as investors, stymied by a lack of economic data due to the government shutdown, turned their attention to minutes from the Federal Reserve's latest policy meeting for clues on the outlook for interest rates.

Traders at the New York Stock Exchange, USA. Photo: THX/TTXVN

The Nasdaq technology index recorded the biggest percentage gain, 1.12% (equivalent to 255.02 points), to 23,043.38 points, thanks to the push from mega-cap stocks related to artificial intelligence (AI), which have led the market's rally since the beginning of the year.

The S&P 500 also rose 39.13 points, or 0.58%, to 6,753.72. These were all-time closing highs for the S&P 500 and Nasdaq. Meanwhile, the Dow Jones Industrial Average was almost flat at 46,601.78.

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.

In Vietnam, at the end of the session on October 8, the VN-Index increased by 12.53 points (0.74%) to 1,697.83 points. The HNX-Index also increased by 0.47 points, or 0.17%, to 273.34 points.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-my-sp-500-va-nasdaq-deu-chot-phien-810-cao-ky-luc-20251009072217536.htm