S&P 500 closes at record high despite government shutdown

US stocks rose at the close of the first October session, as investors bet the partial government shutdown would not last long, supported by data that boosted hopes of continued Fed rate cuts, despite raising concerns about the labor market.

The Dow Jones inched up 0.10%, or 43 points, to 46,441 points, hitting an all-time high for the second consecutive session.

The S&P 500 gained 0.34%, or 22 points, to 6,711 points, recording another all-time high. The Nasdaq Composite Index ticked 0.42% higher, or 95 points, to end at 22,755 points.

Shares of Plug Power, a company specializing in alternative energy technology, were the top performer, soaring 25.75% to $2.93.

The Stoxx Europe 600 added 1.15% to 564,62, supported by gains in the aerospace and defense sector, which also rose by 1.15%.

On the other hand, Germany’s DAX rose 1% to 24,113. France’s CAC 40 gained 0.9% to 7,966, and the UK’s FTSE 100 edged up 1% to 9,446, an all-time high.

In Japan, the Nikkei 225 fell 0.85% to 44,550, falling for the fourth session in a row, while the broader Topix lost 1.35% to 3,094.

Brent crude futures for December delivery dropped 1%, or 68 cents, to $65.35 a barrel, marking a third consecutive day of losses.

US West Texas Intermediate (WTI) crude for November shed 0.95%, or 59 cents, to $61.78 a barrel.

Gold futures for December delivery climbed 0.62%, or $24.3, to $3,897.5 an ounce, with the most actively traded contract hitting a record high for the 40th time in 2025.

According to the monthly ADP report released, on Oct. 1, the US private sector lost 32,000 jobs in September, contrary to expectations of an increase of 50,000 jobs. 

Meanwhile, a survey by the Institute for Supply Management indicated that manufacturing activity contracted for the seventh consecutive month, reflecting continued weakness in demand.