US equity markets closed modestly higher on Wednesday, demonstrating resilience amidst ongoing political uncertainty. The Dow Jones Industrial Average finished at 46,441 points, a 0.1% increase from the previous day’s close. The broader S&P 500 index reached approximately 6,711 points, gaining 0.3%, while the Nasdaq 100 stood at around 24,801 points, up 0.5% at the close of trading in New York.
The looming US government shutdown remained a central focus for investors. Failing to agree on a new budget, Republicans and Democrats have triggered a partial or full suspension of government operations. Historically, investors tend to shift towards safer asset classes during such periods of political gridlock.
President Trump, who previously cautioned that a shutdown would be a negative signal for a president, has attributed blame to the Democratic party and indicated potential workforce reductions. Democrats have countered that such actions are already underway.
The Euro weakened slightly against the US dollar, trading at $1.1728, equivalent to €0.8527 per dollar.
Gold experienced a slight uptick, fetching $3,862 per fine ounce (+0.1%), which translates to €105.86 per gram.
Conversely, oil prices declined. Brent North Sea crude was priced at $65.56 per barrel, a decrease of 47 cents or 0.7% compared to the previous day’s closing price.
