Wall Street closes with records as tech support offsets labor, shutdown uncertainties
By Sinéad Carew and Niket
Nishant
Thu October 2, 2025 4:53 PM
Given the historical track record of government closures not really seriously impacting the stock market, plus the continuing optimism that there will be two more rate cuts this year, the market just keeping pushing up and up. Because of that, the Nasdaq had a better day. But the soft employment numbers we’ve been seeing for a while now plus the shutdown has at least kept the advances elsewhere modest in this already greatly overvalued market. The S&P for instance rose just 4 points but it was already at a 5-year record high so the 4 points sent it to still another record high, as did the Dow.
For Wall Street, the biggest problem with the shutdown is the cutoff of data, such as the crucial employment report that will not be coming tomorrow. With the lack of data, analysts are looking to backup sources such as global placement firm Challenger, Gray & Christmas but even they confirm that hiring plans are at their lowest since 2009, even though at least layoffs are also declining. The tug of war continues between cutting rates which will stoke more inflation but will also stoke more hiring. The challenge is to find a balance. Volume at 18.77 billion was just slight below the 18.83 average.
DJ: 46,441.10 +43.21 NAS: 22,755.16
+95.15 S&P: 6,711.20
+22.74 10/1
DJ: 46,519.72 +78.62 NAS: 22,844.05
+88.89 S&P: 6,715.35
+4.15 10/2
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