Wall Street Rises Amid Shutdown Threat: Key Economic Gains Despite Uncertainty
Wall Street's indexes finished a volatile Tuesday session higher, achieving quarterly and monthly gains. Despite looming U.S. government shutdown fears, investors maintained confidence in the Federal Reserve's policies. Healthcare sectors led gains, while transportation faced declines due to predicted shutdown impacts. The Dow achieved record closing highs.
Wall Street's major indexes closed Tuesday's tumultuous session higher, securing both quarterly and monthly gains, even as investors braced for a potential U.S. government shutdown. This shutdown could delay critical economic reports and obscure the Federal Reserve's interest rate policy trajectory.
Investors have been betting on further Federal Reserve rate cuts for some time, leading the benchmark S&P 500, tech-driven Nasdaq, and the Dow to finish the quarter on a positive note. U.S. President Donald Trump cautioned congressional Democrats that a federal shutdown would allow for 'irreversible' actions, affecting key programs. Market analysts speculate that this shutdown could disrupt the fragile economic setting.
Despite concerns, the S&P 500 reported its largest September gain since 2010, and the Nasdaq recorded its most substantial third-quarter gain since 2010. Healthcare stocks led the S&P 500 sectors, notably Pfizer, after President Trump's remarks on drug pricing policies.
(With inputs from agencies.)
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