Nasdaq Composite gains ground Monday, industrial stocks sag

Lola Evans
03 Oct 2023, 06:08 GMT+10

The S&P 500 closed at 4,288.39, reflecting a slight increase of 0.34 points or 0.01 percent.
The Dow Jones Industrial Average concluded the day at 33,433.35, down 74.15 points, representing a decrease of 0.22 percent.
The NASDAQ Composite index saw a positive trend, closing at 13,307.77, up by 88.45 points or 0.67 percent.

NEW YORK, New York - The Nasdaq defied a general sell-off on U.S. equity markets Monday, as the new quarter began.

Technology stocks were in moderate demand, pushing the Nasdaq Composite higher.

Industrial stocks sold off earlier in the day but made up ground in the final hour of trading.

On the weekend, with hours to spare the U.S. Senate passed a bill that staved off a government shutdown, at least for another 45 days.

"I think the conditions that we're in and that surround us are much more important. So, as we head into the year-end, if we don't see an improvement in key areas of the economy, like housing and manufacturing, if we start to see more cracks on labor, I think that would that would definitely take on more importance than just the shutdown itself," Charles Schwab senior investment strategist Kevin Gordon told CNBC Monday.

S&P 500 (^GSPC) The S&P 500 closed at 4,288.39 Moday, reflecting a slight increase of 0.34 points or 0.01 percent.

Dow Jones Industrial Average (^DJI) The Dow Jones Industrial Average concluded the day at 33,433.35, down 74.15 points, representing a decrease of 0.22 percent.

NASDAQ Composite (^IXIC) The NASDAQ Composite index saw a positive trend, closing at 13,307.77, up by 88.45 points or 0.67 percent.

Dollar Buyers Dominate Monday's Foreign Exchange Markets

The U.S. dollar jumped sharply Monday as Treasury yields shot up to levels not seen since 2007 and the beginnings of the Global Financial Crisis.

EURUSD (Euro / US Dollar) The euro sank below the crucial 1.0500 level and last traded at 1.0480 in late U.S. trading, down 0.83 percent.

USDJPY (US Dollar / Japanese Yen) The Japanese Yen, USDJPY, weakened by 0.32 percent to 149.85.

USDCAD (US Dollar / Canadian Dollar) The Canadian Dollar, USDCAD slid 0.69 percent to reach 1.3676.

GBPUSD (British Pound / US Dollar) The British Pound tumbled 0.88 percent, landing at 1.2088.

USDCHF (US Dollar / Swiss Franc) The Swiss Franc exchange rate, USDCHF, eased 0.26 percent Monday to 0.9181.

AUDUSD (Australian Dollar / US Dollar) The Australian dollar fared worst on the day, dropping 1.01 percent to 0.6364.

NZDUSD (New Zealand Dollar / US Dollar) The New Zealand dollar exchange rate dived 0.83 percent to 0.5944.

Global Stock Markets Start New Week, Month, Quarter, in Selling Mode

Global stock markets were mixed but largely lower on Monday, with most indices registering substantial losses while a lesser number made modest gains. Here's a roundup of the latest quotes from major stock indices worldwide:

CANADA

S&P/TSX Composite Index (^GSPTSE) The S&P/TSX Composite index experienced a surprisingly significant decline, closing at 19,177.18, down 364.09 points or 1.86 percent.

UNITED KINGDOM

FTSE 100 (^FTSE) The FTSE 100 index in the United Kingdom closed at 7,510.72, marking a decrease of 97.36 points, equivalent to a decrease of 1.28 percent.

EUROPE

DAX PERFORMANCE-INDEX (^GDAXI) In Germany, the DAX PERFORMANCE-INDEX concluded the day at 15,247.21 points, down by 139.37 points or 0.91 percent.

CAC 40 (^FCHI) France's CAC 40 index finished at 7,068.16 points, dropping 66.90 points, or 0.94 percent.

ESTX 50 PR.EUR (^STOXX50E) The ESTX 50 PR.EUR index in Europe also recorded a decline Monday, ending the day at 4,137.63 points, down by 37.03 points or 0.89 percent.

Euronext 100 Index (^N100) Similarly, the Euronext 100 Index closed at 1,310.08 points, marking a decrease of 13.63 points, or 1.03 percent.

BEL 20 (^BFX) Belgium's BEL 20 index decreased by 43.34 points, or 1.22 percent, closing at 3,509.67 points.

RUSSIA

MOEX Russia Index (IMOEX.ME) In Russia, the MOEX Russia Index slightly dropped by 4.14 points, equivalent to a 0.19 percent decrease, closing at 2,222.51 points.

ASIA

Nikkei 225 (^N225) Japan's Nikkei 225 closed at 31,759.88 points Monday, down 97.74 points, which represents a 0.31 percent decrease.

HANG SENG INDEX (^HSI) On the other hand, the Hang Seng Index in Hong Kong surged, closing at 17,809.66 points, marking an impressive increase of 436.66 points or 2.51 percent.

SSE Composite Index (000001.SS) China's SSE Composite Index slightly gained, ending at 3,110.48 points, with an increase of 3.16 points or 0.10 percent.

Shenzhen Index (399001.SZ) The Shenzhen Index also experienced a minor uptick, closing at 10,109.53 points, up by 5.23 points or 0.05 percent.

STI Index (^STI) The STI Index in Singapore experienced a minor decrease, ending at 3,208.86 points, down by 8.55 points or 0.27 percent.

IDX COMPOSITE (^JKSE) Indonesia's IDX COMPOSITE index ended at 6,961.46 points, marking a gain of 21.57 points or 0.31 percent.

FTSE Bursa Malaysia KLCI (^KLSE) Malaysia's FTSE Bursa Malaysia KLCI dropped by 5.41 points or 0.38 percent, closing Monday at 1,418.76 points.

KOSPI Composite Index (^KS11) South Korea's KOSPI Composite Index experienced a slight gain, closing at 2,465.07 points, up by 2.10 points or 0.09 percent.

TSEC weighted index (^TWII) Taiwan's TSEC weighted index closed at 16,557.31 points, marking an impressive gain of 203.57 points or 1.24 percent.

Markets in India were closed Monday because of the Gandhi Jayanti long weekend.

OCEANIA

ALL ORDINARIES (^AORD) Australia's ALL ORDINARIES index decreased by 14.20 points, or 0.20 percent, closing at 7,235.50 points.

S&P/ASX 200 (^AXJO) In Australia, the S&P/ASX 200 index decreased by 15.40 points, or 0.22 percent Monday, closing at 7,033.20.

S&P/NZX 50 INDEX GROSS (^NZ50) New Zealand's S&P/NZX 50 INDEX GROSS concluded the day at 11,243.29 points, down by 53.14 points or 0.47 percent.

AFRICA

Top 40 USD Net TRI Index (^JN0U.JO) The Top 40 USD Net TRI Index took a substantial hit, dropping by 129.49 points, equivalent to a 3.41 percent decrease, closing at 3,664.87.

MIDDLE EAST

TA-125 (^TA125.TA) Israel's TA-125 index slightly increased, closing at 1,903.35 points, up by 5.03 points or 0.26 percent.

EGX 30 Price Return Index (^CASE30) Egypt's EGX 30 Price Return Index closed at 19,901.20 points Monday, down by 153.50 points or 0.77 percent, with a trading volume of 208.968 million shares.

Photo credit: Big News Network news agency

U.S. dollar jumps sharply despite shutdown threat deferral

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