Overview
Today, the U.S. stock market ended on a high note despite the Federal Government shutdown. The S&P 500 Index broke past the 6,700 threshold, driven by the robust performance in the healthcare sector and increased expectations of a Federal Reserve interest rate reduction due to weak private employment data.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
September ADP private employment decreased by 32,000, which was significantly below market expectations, highlighting a slowdown in the labor market. This has heightened expectations for further interest rate cuts by the Federal Reserve. Additionally, the ISM Manufacturing Index remained in contraction territory for the seventh consecutive month, signaling an economic slowdown. Although the official employment report scheduled for Friday might be delayed due to the shutdown, the market believes the Fed has ample data to make monetary policy decisions.
Tomorrow's Economic Indicators
| Announcement Time | Details |
|---|---|
| 20:30 | U.S. Challenger Job Cuts Report |
| 23:00 | U.S. August Factory Orders |
| 23:00 | U.S. August Durable Goods Orders |
| 20:30 | U.S. EIA Natural Gas Storage Report |
| 23:30 | Federal Reserve's Logan Speaks |
General Opinion
Today's market rebound is mainly attributed to expectations of Federal Reserve interest rate cuts and the short-term impact of the government shutdown. Investors should remain cautious, however, as a prolonged shutdown could have broader economic implications. The outcome of the weekend's employment report may significantly influence market direction.
