US Stocks Edge Higher as AI Gains Offset Shutdown Fears
On Monday, U.S. stock markets saw a modest rise as investors balanced enthusiasm for artificial intelligence and merger activities with concerns about a possible government shutdown. The S&P 500 saw a 0.2% increase, the Nasdaq 100 advanced 0.5%, and the Dow Jones Industrial Average added more than 50 points. Nvidia's shares climbed approximately 2%, along with other chipmakers, which contributed to the broader semiconductor index reaching a record high. Shares of Electronic Arts surged nearly 5% following its agreement to be privatized in a $55 billion transaction, highlighting a significant upswing in mergers and acquisitions this year. However, worries about a potential government shutdown were significant, with an over 80% likelihood that key economic reports, such as the nonfarm payrolls scheduled for release on Friday, might be postponed. Investors are also keeping a close watch on the Federal Reserve, where hawkish commentary from officials stands in contrast to the anticipated future interest rate reductions. Despite last week's declines, the three major indexes are poised for monthly gains, with the technology-driven Nasdaq leading the growth.
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