Equity Alert
US mkt ends higher Monday; traders shrug off govt shutdown fear
This story was originally published at 07:59 IST on 30 September 2025
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Equity Alert: US mkt ends higher Monday; traders shrug off govt shutdown fear
MUMBAI--0740 IST--US benchmark indices closed higher Monday, despite concerns of a government shutdown, as technology and artificial intelligence-related stocks saw sharp gains. The US Labor Department has said it will not release any data, including the September nonfarm payrolls data, due Friday, if a shutdown is unavoidable. Investors also focussed on comments by Federal Reserve officials for cues on US monetary policy going forward.
Cleveland Federal Reserve President Beth Hammack Monday said the Fed needed to maintain restrictive monetary policy to lower inflation. St. Louis Fed President Alberto Musalem said he is open to further interest rate cuts but that the central bank must be cautious and keep rates high enough to continue to lean against inflation.
Government shutdowns have historically not impacted markets much, but sentiment could take a hit if any delays around the release of key economic data muddy the interest rate outlook for the Federal Reserve, a CNBC report said.
AI stocks, which had weighed on the US indices last week over demand concerns, closed higher Monday. Shares of chipmaker Nvidia rose over 2% and those of Advanced Micro Devices and Micron Technology rose over 1% and 4%, respectively. Shares of Electronic Arts were up 4.5?ter the game publisher said it will be taken private in a $55 billion deal. "The AI capital expenditure story is showing no signs of slowdown. Moreover, other industries have also been benefiting from the tidal wave of AI infrastructure spend," Venu Krishna, head of US equity strategy at Barclays, was quoted as saying by CNBC. The technology-heavy Nasdaq Composite rose 0.5%.
Among other stocks, Lam Research rose 2?ter Deutsche Bank upgraded the rating on the chip-making equipment firm to 'buy' from 'hold.' Shares of AppLovin hit a fresh record high before closing higher by 6.3?ter Morgan Stanley raised the target price on the stock to $750 from $480, a Reuters report said.
So far in September, the S&P 500 has risen 3.1% compared to August and the Dow Jones Industrial Average has advanced nearly 2%. The Nasdaq Composite index has advanced more than 5%.
Following are the closing levels of US indices Monday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6661.21 |
0.26 |
|
NASDAQ Composite |
22591.15 |
0.48 |
|
Dow Jones Industrial Average |
46316.07 |
0.15 |
(Eshitva Prakash)
End
US$1 = INR 88.76
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Ashish Shirke
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