Overview
The U.S. stock market closed on a high note, posting record gains as enthusiasm for AI stocks surged. This came amidst a government shutdown that halted the release of key economic indicators, shifting investor focus to the Federal Reserve's latest meeting notes. These notes revealed mixed opinions among Fed members about the need for further interest rate increases, reflecting an uncertain outlook due to labor market conditions and inflation concerns.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
NVIDIA's CEO played a pivotal role in boosting tech stocks with comments about strong chip demand and increased computing needs over the past six months. Despite government shutdowns affecting economic indicator releases, the market focused on insights from the Federal Reserve's September meeting, where discussions about inflation and labor market stability were prominent.
Tomorrow's Economic Indicators
| Time | Event |
|---|---|
| 23:30 | U.S. AI Natural Gas Inventory |
| 20:30 | Speech by Federal Reserve Chair Powell |
| 20:35 | Speech by Federal Reserve Vice Chair Bowman |
| 21:45 | Speech by Federal Reserve Governor Biden Powell |
| 22:00 | U.S. 30-Year Treasury Bond Auction |
A General Opinion
Experts are predicting a continued bullish trend for tech stocks, as they believe that current valuations are still below past peaks for tech companies. However, caution is advised due to potential momentum divergences. The reliance on data has increased due to the absence of regular economic indicators, highlighting the importance of market stability even amidst headline risks.
