Equity Alert
US mkt ends higher Tue despite looming US government shutdown
This story was originally published at 08:33 IST on 1 October 2025
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Equity Alert: US mkt ends higher Tue despite looming US government shutdown
MUMBAI--0748 IST--Indices in the US closed higher Tuesday, with the Dow Jones Industrial Average closing at a record high as traders shrugged off concerns about the likely US government shutdown. The country inched towards a government shutdown after a vote to extend funding past the deadline failed. US President Donald Trump has threatned to fire several federal officers in case of a shutdown.
Traders were anxious about a prolonged closure which could hamper economic activity in the US and lead to a delay in key data releases. The US Labour Department earlier said that in case of a shutdown, it would not release the September non-farm payrolls data on Friday, according to media reports.
"When it comes to Washington, the market widely expects a shutdown to happen, so investors are largely sitting tight for now, but if this extends beyond two weeks, people will start to become more concerned," Adam Crisafulli of Vital Knowledge was quoted by CNBC, as saying.
The Dow Jones Industrial Average advanced 0.2% to reach a fresh closing high. Job openings in the US rose more than expected, by 19,000, to 7.227 million as of Aug. 31, the Bureau of Labor Statistics said in its report. Economists polled by Reuters had forecast 7.185 million unoccupied jobs.
Among specific stocks, shares of Pfizer gained nearly 7?ter President Trump said the company will cut the price of all prescription drugs in the Medicaid program for low-income Americans and sell new prescription drugs at a "most favored nation" price in exchange for tariff relief, a report by Reuters said. Shares of CoreWeave rose after the company announced a $14.2 billion artificial intelligence cloud infrastructure deal with Meta Platforms, a Reuters report said. Chipmaker Wolfspeed's shares jumped 29?ter the company exited bankruptcy proceedings, a report by Mint said. Shares of Lamb Weston rose over 4?ter the frozen-potato products maker beat analysts' estimates for first-quarter revenue and earnings. Firefly Aerospace shares were down nearly 21?ter an error in the pre-flight testing destroyed one of its rockets.
A group representing major US airlines Monday said that a government shutdown could dent aviation performance in the country and result in flight delays as air traffic controllers would have to work without pay, according to US media reports. Shares of Southwest Airlines fell 2.6% and those of United Airlines closed 2.2% lower.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6688.46 |
0.41 |
|
NASDAQ Composite |
22660.01 |
0.3 |
|
Dow Jones Industrial Average |
46397.89 |
0.18 |
(Eshitva Prakash)
End
US$1 = 88.79 INR
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Tanima Banerjee
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