Investors Navigate Fed Remarks and Looming Shutdown
The S&P 500 and Nasdaq began the week positively despite hawkish Federal Reserve rhetoric and potential government shutdown concerns. Investors remain focused on Federal Reserve policy signals, while technology stocks like Nvidia and Micron Technology spurred gains. Cannabis-related shares also surged, and discussions on fiscal policy continue amid market uncertainty.
The S&P 500 and Nasdaq indexes saw gains as a new week commenced, with investors largely dismissing hawkish statements from a Federal Reserve official. The focus remains on the potential impact of an imminent U.S. government shutdown.
Tech stocks, including Nvidia and Micron Technology, were among the big winners. Meanwhile, traders priced in a strong likelihood of an interest rate cut at the next Federal Reserve meeting despite Cleveland Fed President Beth Hammack's call for a restrictive monetary policy to manage inflation.
Cannabis-related stocks experienced significant rises, while a looming political standoff concerning government funding captured the market's attention, with potential implications for future economic data releases.
(With inputs from agencies.)
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