US Equity Markets Rise Amid Gains by Major Tech Stocks, Decline in Government Bond Yields

MT Newswires Live
Sep 30

US equity indexes were higher on Monday, backed by gains in major tech stocks and a decline in government bond yields.

* Scotiabank said the main calendar-based risk this week is the potential US government shutdown, which could begin Wednesday if funding talks fail ahead of Friday's September non-farm payrolls report. President Donald Trump is set to meet with congressional leaders from both parties on Monday to negotiate an extension as a shutdown would delay the release of key economic data.

* Pending home sales rose 4% in August, beating expectations for no change based on a Bloomberg survey, and reversing a 0.3% decline in July, the National Association of Realtors reported; the monthly sales index was also up 3.8% from a year earlier.

* November West Texas Intermediate crude oil fell $2.54 to settle at $63.19 per barrel, while November Brent crude, the global benchmark, was last seen down $2.47 to $67.66.

* Western Digital (WDC) shares were up about 8.8% after Morgan Stanley increased its price target on the data storage products maker's stock.

* MoonLake Immunotherapeutics (MLTX) shares dropped roughly 90% after releasing late-stage trial data for its hidradenitis suppurativa treatment, which led multiple analysts to downgrade the stock.

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