Market Maneuvers Amid U.S. Shutdown and Fed Rate Speculations

Global stocks ticked upwards and gold maintained near-record levels as investors weighed the potential impact of a U.S. government shutdown. A weak private U.S. labor report boosted speculation for Federal Reserve rate cuts, prompting discussion about future market directions.

Morgan Stanley highlighted that historically, U.S. share prices increase and economic growth remains resilient during shutdowns. Attention is shifting towards potential interest rate cuts by the Federal Reserve and the possibility of a short-term stock market pullback in 2023.

Meanwhile, the dollar faced pressure, gold slightly dipped, and oil prices continued to fall due to oversupply concerns, all amidst ongoing discussions about the U.S. government's fiscal state and its implications for the economy.

(With inputs from agencies.)