US close: Wall Street edges up as shutdown threat looms
By Iain Gilbert
Date: Monday 29 Sep 2025
(Sharecast News) - Major indices closed higher on Monday as stocks clawed back some of last week's losses.
At the close, the Dow Jones Industrial Average was up 0.15% at 46,316.07, while the S&P 500 advanced 0.26% to 6,661.21 and the Nasdaq Composite saw out the session 0.48% firmer at 22,591.15.
The Dow closed 68.78 points higher on Monday, extending gains recorded in the previous session as investors digested another raft of economic data.
Investors continued to weigh mixed economic signals and heightened political uncertainty on Monday. While inflation data has largely aligned with expectations, strong labour market readings and upward GDP revisions have complicated the outlook for potential rate cuts from the Federal Reserve Bank.
Market participants were also zeroed in on a potential government shutdown, with Congress Republicans and Democrats needing to lock in a government budget agreement before the end of Tuesday's session. The Labor Department said it will withhold all scheduled data releases, including Friday's nonfarm payrolls report, if a government shutdown was not averted.
Trump warned over the weekend that mass federal job cuts could follow if lawmakers fail to reach an agreement. While shutdowns have historically had limited impact on financial markets, analysts cautioned that delays to key economic indicators, such as Friday's nonfarm payrolls report, could cloud the Federal Reserve's interest rate outlook and weigh on investor sentiment.
"We are going to cut a lot of the people that [...] we're able to cut on a permanent basis," Trump said, adding that he'd "rather not do that".
On the macro front, US pending home sales rose much more than expected in August, according to data released on Monday by the National Association of Realtors. Pending home sales grew 4% on the month, taking the index to 74.7. This was comfortably ahead of expectations of 0.2% growth. On the year, pending home sales were up 3.8%.
Elsewhere, the Dallas Federal Reserve's manufacturing business index showed manufacturing activity in Texas contracted for a second consecutive month in September, with business conditions deteriorating at the steepest pace since June. The general business activity index fell to -8.7 from -1.7 in August, while the production index dropped 10 points to 5.2, pointing to below-average output growth. Capacity utilisation eased to 3.9, shipments declined to 6.7, and new orders slipped into negative territory at -2.6, suggesting a modest pullback in demand.
In the corporate space, cruise operator Carnival lifted its annual profit guidance on Monday as it pointed to strong demand and posted record third-quarter results. Carnival hailed record third-quarter net income of $1.9bn, or $1.33 diluted earnings per share, up $116m on the same period a year earlier and surpassing the previous record set in 2019. Adjusted underlying earnings came in at a record $3bn, and revenue rose by more than $250m from a year earlier to an all-time high of $8.2bn.
US video game maker Electronic Arts said on Monday that it has agreed to be taken private for $55bn by a consortium comprising Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners. It said the deal positions EA "to accelerate innovation and growth to build the future of entertainment".
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Caterpillar Inc. (CAT) $469.86 1.26%
Walt Disney Co. (DIS) $114.40 1.15%
Johnson & Johnson (JNJ) $181.15 1.06%
3M Co. (MMM) $153.76 0.83%
Visa Inc. (V) $339.27 0.83%
Cisco Systems Inc. (CSCO) $67.72 0.74%
Salesforce.Com Inc. (CRM) $245.51 0.69%
Procter & Gamble Co. (PG) $153.09 0.68%
Microsoft Corp. (MSFT) $514.60 0.61%
Coca-Cola Co. (KO) $65.89 0.56%
Dow Jones - Fallers
Intel Corp. (INTC) $34.48 -2.87%
Chevron Corp. (CVX) $155.74 -2.53%
Boeing Co. (BA) $215.24 -1.89%
International Business Machines Corporation (CDI) (IBM) $281.75 -1.59%
Verizon Communications Inc. (VZ) $43.21 -0.83%
Home Depot Inc. (HD) $407.79 -0.80%
McDonald's Corp. (MCD) $302.99 -0.74%
Travelers Company Inc. (TRV) $275.78 -0.45%
Apple Inc. (AAPL) $254.43 -0.40%
Dow Chemical Co. (DOW) $22.95 -0.30%
S&P 500 - Risers
Western Digital Corp. (WDC) $116.74 9.23%
CSX Corp. (CSX) $35.83 5.35%
Seagate Technology Plc (STX) $229.14 5.35%
Kellanova (K) $81.99 5.16%
Electronic Arts Inc. (EA) $202.05 4.50%
Micron Technology Inc. (MU) $163.90 4.22%
Freeport-McMoRan Inc (FCX) $37.71 3.83%
Paypal Holdings Inc (PYPL) $69.68 3.54%
Accenture Plc (ACN) $248.42 3.36%
Advance Auto Parts (AAP) $62.46 3.20%
S&P 500 - Fallers
Kohls Corp. (KSS) $15.40 -5.24%
Carnival Corp. (CCL) $29.17 -3.98%
Devon Energy Corp. (DVN) $35.44 -3.97%
Eog Resources Inc. (EOG) $113.58 -3.38%
Skyworks Solutions Inc. (SWKS) $76.93 -3.24%
Diamondback Energy Inc. (FANG) $143.58 -3.15%
Gap Inc. (GAP) $21.25 -2.96%
Intel Corp. (INTC) $34.48 -2.87%
Qorvo, Inc. (QRVO) $90.46 -2.75%
Dxc Technology Company (DXC) $13.76 -2.71%
Nasdaq 100 - Risers
Western Digital Corp. (WDC) $116.74 9.23%
CSX Corp. (CSX) $35.83 5.35%
Seagate Technology Plc (STX) $229.14 5.35%
Electronic Arts Inc. (EA) $202.05 4.50%
Micron Technology Inc. (MU) $163.90 4.22%
Paypal Holdings Inc (PYPL) $69.68 3.54%
JD.com, Inc. (JD) $35.64 3.30%
Starbucks Corp. (SBUX) $85.64 2.70%
Wynn Resorts Ltd. (WYNN) $132.43 2.68%
Baidu Inc. (BIDU) $134.86 2.68%
Nasdaq 100 - Fallers
Skyworks Solutions Inc. (SWKS) $76.93 -3.24%
Intel Corp. (INTC) $34.48 -2.87%
QUALCOMM Inc. (QCOM) $165.30 -2.30%
Broadcom Inc. (AVGO) $327.90 -1.98%
Booking Holdings Inc. (BKNG) $5,454.81 -1.68%
Kraft Heinz Co. (KHC) $25.70 -1.34%
Synopsys Inc. (SNPS) $481.61 -1.26%
Mondelez International Inc. (MDLZ) $62.63 -1.15%
Alphabet Inc. Class C (GOOG) $244.36 -1.14%
Analog Devices Inc. (ADI) $244.79 -1.12%
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