The New York Stock Exchange maintained a zigzagging course this Thursday, but reached new historical maximums in its three reference indices, although initial optimism vanished“that the government’s closure would be brief and would have a limited impact on the economy.”
In this context, the Dow Jones index of industrialists rose 0.17% to 46,520.15 points; The S&P500 won 0.07% to 6,715.80 points and the Nasdaq Composite showed 0.39% to 22,844.05 points.
Treasury Secretary Warning, Scott Besent
In an interview with the CNBC, the Secretary of the Treasury, Scott Besentwarned that the current closure of government, which began on Tuesday at midnight, could have a greater impact on the economy than previous interruptions. “We could see an impact on GDP, growth and the American working population,”Besent declared.
The closure is expected to interrupt services from the control of air traffic to the aid in case of disaster, and that the key data on non -agricultural payrolls, which will be published on Friday, are also delayed. The exact duration of the closure is unknownsince the Democrats and Republicans of the Senate They do not seem to be close to reaching a consensus on an expense bill.
President Donald Trump aggravated the division by threatening to cut the financing to the states with a democratic tendency and permanently fire numerous federal employees.
Historically, closures have had a limited impact on financial markets and economics. The last government closure occurred during Trump’s first mandate (it was 35 days, between the end of 2018 and early 2019) and is to date the longest in the history of the United States.
This government closure cost the economy around US $ 11,000 million, according to estimates of the Congress Budget Office. The Polymarket bet website indicates that the highest probability is that the stagnation lasts between one and two weeks, although there is currently a 34% possibility of a longer closure, with just over US $ 1.2 million stationed.
Labor market in the spotlight
A key consequence of the US government continuum was the delay in the publication of key economic indicatorsincluding the monthly non -agricultural payroll report, in this case planned for Friday.
This means that other private figures, such as Challenger layoff data, Gray & Christmas on Thursday, have received more attention than usual. The overall labor relocation firm announced Thursday that planned employment cuts decreased by 37%, to 54,064, last month. This represents a 26% decrease with respect to the same month of the previous year.
Besides, The unemployment rate in the USA was probably 4.3% in Septemberwithout changes compared to August, according to a new “real -time” estimate of the Bank of the Federal Reserve (Fed) of Chicago published on Thursday.
This was the second time that the Regional Bank of the FED publishes its new metric, which is based on the Government’s current population survey, as well as data from non -governmental sources such as the Indeed and Google Employment Website. However, earlier this week, the National Employment Report showed the greatest fall in private payrolls in two and a half years during September.
The Fed is closely following the figures of the labor market while the officials evaluate the perspectives of monetary policy. Loan costs were reduced at 25 basic points last monthand the political leaders highlighted the need to prioritize the support of a work scenario in decline above the persistent inflationary pressures.
The weak economic data has promoted the persistent bets that the Fed will continue with the cuts to the interest rates in the two remaining monetary policy meetings this year.
Wall Street outstanding actions
The actions of Tesla 5.1% fell even when the electric vehicle manufacturer saw a rebound in deliveries in the third quarter, given the perspective of lower imminent demand, with the expiration of the tax credit for electric vehicles.
Despite the impact on demand, this was “An excellent trimester of recovery so that Tesla lay the foundations for future deliveries”said Wedbush Group, although he added that “there is still work to do to gain ground in terms of deliveries.”
Rivian Automotive It fell 7.3% despite reporting an increase of almost 32% in the deliveries of the third quarter, which exceeds the estimates of analysts, since more American cars buyers rushed to obtain fiscal credits before expiration, through the purchase of new electric vehicles.
HUMAN INC He advanced 4% after the company’s update on Medicare’s stars, which showed advances in its strategic initiatives to improve performance metrics.
Healthcare Company Acadia Inc It grew by 8.4% after Khrom Capital Management, an important shareholder, urged the behavioral health services provider to carry out a strategic review, including a possible sale of the company.
Khrom Capital, which has approximately 5.5% of the actions in circulation of Acadia, sent a letter to the Board of Directors criticized what he described as a “persistently poorly poor performance” and a “bad capital allocation.”
Source: Ambito
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