The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its third day.
Pressure came from major technology names, with Palantir Technologies leading the S&P 500 lower, dropping 7.5%, while Tesla and Nvidia fell 1.4% and 0.7%, respectively. Applied Materials declined 2.7% after warning of a $600 million revenue hit tied to semiconductor export restrictions.
Investors focused on the shutdown, which delayed the September jobs report and created an economic data blackout ahead of the Federal Reserve's October policy meeting. Private data suggested a slowing labor market but also reinforced expectations for another Fed rate cut later this month. Despite these headwinds, all three major indexes are on track for solid weekly gains, with the S&P 500 up 1.1%, the Dow 1%, and the Nasdaq 0.5%.
Source: Investing.com
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