Chip stocks support the Nasdaq to a new intraday high, while the Dow turns lower, pharmaceutical stocks retreat, and Chinese concept stocks are strong, with Alibaba once rising over 5%
The performance of the U.S. stock market was mixed, with chip stocks driving the Nasdaq to a new intraday high, while the Dow Jones turned lower and pharmaceutical stocks retreated. Chinese concept stocks performed strongly, with Alibaba rising more than 5% at one point. The U.S. government shutdown affected economic data, resulting in the unemployment claims and durable goods orders that were scheduled for release not being published as planned. Investors should exercise caution, as there are risks in the market
The impact of the U.S. government shutdown on economic data has become increasingly evident, with major U.S. stock indices showing mixed performance. Chip stocks have become the main driving force behind the market's upward movement, while Chinese concept stocks have strengthened further, and the pharmaceutical stocks that led the rise in the previous two days have retreated.
As the U.S. government shutdown enters its second day, the weekly unemployment claims and August durable goods orders that were scheduled to be released on Thursday have not been published as expected. The three major U.S. stock indices continued to open higher collectively, but the early trading showed divergence: the Nasdaq and S&P 500 both reached intraday record highs at the beginning, with the Nasdaq maintaining its upward trend while the S&P gave back most of its gains, and the Dow turned negative.
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