Market Wrap Dow Hits Record High Amid Shutdown Concerns While Nasdaq Faces Pressure

# Market Wrap: Dow Hits Record High Amid Shutdown Concerns While Nasdaq Faces Pressure

**Note**: This analysis is generated after US market close. Event times in US Eastern Time.

## Market Commentary

### Closing Bell: Overall Market Wrap-Up

As the trading day concluded, the U.S. stock market exhibited mixed results, largely influenced by ongoing concerns surrounding the government shutdown and its impact on critical economic data. The Dow Jones Industrial Average managed to close at a record high, demonstrating resilience amid the prevailing uncertainty, while the Nasdaq Composite experienced a notable decline, reflecting investor caution. The S&P 500 ended just marginally higher, indicating a market grappling with mixed signals from various sectors.

### US Market: Performance of US Indices and Key Drivers

The Dow Jones Industrial Average closed at 46,758.28, marking a gain of 0.51%, while the S&P 500 finished at 6,715.79, up by a mere 0.01%. In contrast, the Nasdaq 100 fell by 0.43%, closing at 24,785.52. The divergence in performance among these indices can be attributed to investor sentiment regarding the ongoing government shutdown, which has left the Bureau of Labor Statistics (BLS) unable to release crucial employment data. Analysts speculate that the labor market has been stagnant, with recent reports indicating that young college graduates are particularly struggling to find job opportunities.

Goldman Sachs CEO David Solomon’s warning about potential stock market drawdowns further fueled investor skepticism, as he highlighted the overlooked risks associated with the rapid advancements in artificial intelligence. This sentiment was echoed in the broader market, where stretched valuations raised concerns among investors, particularly in tech-heavy sectors.

### Stocks: Notable Stock Movements and Sector Highlights

Among the notable stock movements, Wynn Resorts saw significant fluctuations, reflecting the volatile sentiment in the leisure and hospitality sector. Other stocks making headlines included GameStop and Palantir, which were highlighted in premarket trading reports. The technology sector faced headwinds, with several major companies experiencing declines, contributing to the Nasdaq’s downturn.

On the commodity front, Bitcoin surged to within 1% of its all-time high, gaining traction as a safe-haven asset during the ongoing shutdown. This development underscores the shifting dynamics in investor behavior, as traditional markets face uncertainty.

### News from the World Geopolitics and Economy

The geopolitical landscape remains fraught with tension, particularly regarding the ongoing conflict in Ukraine and recent developments involving Russia. President Putin’s warning to the West, in light of increased NATO support for Ukraine, adds to the global uncertainty that markets are currently navigating. Additionally, the situation in the Middle East, including Hamas’s response to President Trump’s peace plan, is contributing to heightened geopolitical risks.

On the economic front, the absence of key data due to the government shutdown has led to reduced volatility in emerging markets, with currencies slightly appreciating as investors await clarity on U.S. economic conditions. The Chicago Fed President’s cautious stance on interest rate cuts indicates a complex balancing act for the Federal Reserve, as it navigates the dual mandate of stable prices and low unemployment.

### Europe Markets: Performance of European Indices and Influences

European markets displayed resilience in the face of global uncertainties, with the FTSE 100 closing up by 0.67% at 9,491.25, while the DAX and CAC 40 experienced minor declines of 0.18% and 0.31%, respectively. The Euro (EUR) traded around 1.1744 against the US Dollar, reflecting a slight upward movement amid the overall market volatility.

Lower energy prices provided some relief for the Eurozone, with analysts noting that the EUR/USD pair has remained stable within a range, indicating a lack of significant momentum in either direction. The Pound Sterling also exhibited calmness against major peers, despite growing concerns regarding the UK labor market.

### Conclusion

In summary, today’s market activity reflects a complex interplay of geopolitical tensions, economic uncertainty due to the government shutdown, and investor sentiment regarding the evolving landscape of technology and labor markets. While the Dow continues to set new records, the mixed performance of other indices highlights the challenges facing

## Performances

### Indices

### FX and Commodities

## Today’s Major Economic Events Summary

On October 3, 2025, several significant economic indicators were released, impacting currency and market sentiment. The S&P Global Services PMI for Russia fell to 47.0, indicating contraction, which may weaken the RUB further. In Europe, Spain’s Services PMI surprised positively at 54.3, above the expected 53.3, while Italy’s PMI also exceeded forecasts at 52.5. However, France and Germany’s PMIs fell short of expectations, with France at 48.5 and Germany at 51.5. The Eurozone Composite PMI matched forecasts at 51.2, but the Services PMI came in slightly below at 51.3.

In the UK, the S&P Global Services PMI was disappointing at 50.8, below the expected 51.9, suggesting a stagnating economy. In the U.S., the S&P Global Services PMI rose to 54.2, exceeding forecasts, while the ISM Non-Manufacturing PMI