FX.co ★ US Stocks Lower

On Thursday, U.S. stocks experienced a downward trend, with the S&P 500 declining by 0.5%, the Nasdaq decreasing by 0.7%, and the Dow Jones edging down 0.2%, after reaching a record high in the previous session. The optimism regarding the resolution of the U.S. government shutdown appeared largely accounted for, while the shift away from high-valuation technology stocks persisted. Traders exhibited increased caution due to the uncertainty surrounding crucial economic reports delayed by the shutdown. Kevin Hassett, the National Economic Council Director, highlighted that some October data might not be available, as certain agencies couldn't collect information during the shutdown period. Communication services and technology shares faced substantial pressure, with Nvidia dropping by 2.8%, Broadcom falling by 2.9%, Alphabet declining by 2.5%, and Tesla slipping by 2.3%. Additionally, Disney saw a significant drop of over 8% following mixed earnings results. Conversely, Cisco surged by more than 4% after raising its full-year profit and revenue projections.