By Stephen Culp
New York (Reuters) – The New York Stock Exchange ended in dispersed order on Monday while investors focused their attention on the values of artificial intelligence (AI), with a sixth day of “Shutdown”.
The Nasdaq and the S&P 500 have reached records at the end, while the Dow Jones fell slightly.
The Dow Jones index sold 0.14%, or 63.31 points, to 46,694.97 points. Standard & Poor’s 500, wider, took 24.49 points, or 0.36%, at 6,740.28 points. The Nasdaq Composite advanced on its side of 161.16 points, or 0.71%, to 22,941,667 points.
Investors were much less focused on the closure of the federal government, which has been going on since last Wednesday, than on monetary policy and the prospects of promising sectors such as AI.
“The market shows a certain vigor in sectors such as technology and discretionary consumption, despite the concerns related to the closure of the government,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, in Connecticut. “The market remains interested in the AI sector and the companies that support and use it.”
“It is a wave, and the waves do not last forever; they end up reaching their summit and decline,” said Robert Pavlik. “But where are we in this cycle of the wave? Impossible to know.”
The “Shutdown” has already delayed the publication of certain important macroeconomic indicators, forcing investors to trust non -governmental secondary data to assess the calendar and the extent of the Federal Reserve Interest Lower Reserve (Fed).
Managers of monetary policy have warned against a precipitous reduction in the target rate of the central bank while inflation remains high, while others believe that signs of slowdowing the labor market justify decreases.
The financial markets have integrated an almost certain probability of 94.6% of a reduction in interest rates of 25 base points at the end of the Fed’s October meeting.
In the absence of new data from the US government this week, market players monitor reports on current consumption credits, demand for mortgage loans and preliminary analysis of the University of Michigan on consumer feeling in October.
Next week, the third quarter results will serve as catalysts at the market while major American banks will kick off the publications season.
Analysts estimate the overall growth in the profits of the S&P 500 over one year at 8.8% for the period from July to September, an increase of 0.8 percentage points compared to projections at the beginning of the third quarter, according to LSEG data.
On the values side, AMD jumped 23.7% after announcing on Monday that it would provide artificial intelligence fleas to Openai as part of a multi-year agreement which should bring in tens of billions of dollars in annual income and would give the Chatgpt creator the possibility of buying up to around 10% from the semiconductor manufacturer.
Tesla increased by 5.45% after the electric car manufacturer announced the organization of an event scheduled for Tuesday.
Starbucks, for its part, fell by 4.99% following a lowering of TD Cowen course, which invoked a weakening of the labor market affecting generation Z.
After Bitcoin crossed the $ 125,000 mark on Sunday, companies related to Coinbase cryptocurrency (+1.59%), strategy (+2.29%), Riot Platforms (+10.9%) and Mara Holdings (+9.3%) all ended up.
The regional bank Comerica jumped 13.7% after Fifth Third (-1.40%) said that it would buy the company as part of a transaction entirely in shares valued at $ 10.9 billion.
The Verizon shares fell 5.11% after the telecommunications company appointed the former Paypal boss, Dan Schulman, as a new managing director.
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(Report Stephen Culp, with Nishant and Sukriti Gupta in Bangalore, Benjamin Mallet)
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