US Stocks Rise Amid AI Gains, Shutdown Concerns
U.S. stocks concluded Monday's session with gains as investors sought to steady the market following last week's downturn, which was influenced by vulnerabilities in AI-related trading and apprehensions regarding impending tariffs. The S&P 500 inched up by 0.2%, while the Nasdaq 100 climbed 0.4%, and the Dow Jones gained 69 points. These gains were bolstered by increases in technology and AI-centric companies, including Nvidia, which rose by 2.1%, AMD by 1.2%, and Micron Technology by 4.2%. Additionally, the video game firm Electronic Arts surged 4.5% after unveiling a $55 billion take-private transaction, echoing a broader trend in mergers and acquisitions that has surpassed $1 trillion this year. Market participants are keenly observing the potential ramifications of a U.S. government shutdown, as it could postpone crucial economic data releases, such as Friday's nonfarm payroll report, thus adding an element of uncertainty to the Federal Reserve's rate-cut decisions. Despite these challenges, the equities market is on course for modest gains in September, with the S&P 500 advancing nearly 3%, the Dow up by 1%, and the tech-heavy Nasdaq outpacing others with a 5% increase.
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