Trump's Middle East Peace Efforts and US Shutdown Fears Drive Market Sentiment
President Donald Trump has been active on various fronts. He concurred with Israeli Prime Minister Benjamin Netanyahu on a 20-point plan to halt the Gaza conflict, though peace prospects remain ambiguous. Meanwhile, markets responded to potential government shutdown concerns and economic data releases.
Stocks concluded higher on Monday, with the S&P 500 up 0.3% and the Nasdaq 100 rising 0.4%. However, investors are apprehensive about a possible US government shutdown before the October 1 deadline. Trump met with top congressional leaders to avert this, but no consensus was reached.
Treasury yields declined, with the US Treasury 10-year yield dropping to 4.14%. Gold, a safe haven asset, reached a record high, indicating investor wariness. Upcoming economic data includes the JOLTs report on Tuesday and company hiring data on Wednesday, which could sway market sentiment.
Trump also declared new tariffs to bolster the domestic film and furniture industries. Economists, however, refuted Federal Reserve Governor Stephen Miran's assertion that Trump administration policies have lowered interest rates.
Trump's diplomatic endeavors in the Middle East and domestic economic policies continue to influence market sentiment. Upcoming economic data releases and the potential government shutdown will likely remain in focus for investors.
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