Log in to today’s North American session Market wrap for October 1st
The US government shutdown officially kicked in, but beyond a brief selloff in the US Dollar — which stopped well short of breaking any key levels — markets have largely brushed it aside:
US equities reversed early weakness seen in futures and at the open, with both the Nasdaq and S&P 500 climbing to fresh all-time highs by the close.
In commodities, gold extended its rally, coming within just $5 of the $3,900 mark in yet another push toward uncharted territory.
With the dollar under pressure but not yet cracking, and risk assets pushing higher, investors seem willing to ignore Washington headlines — at least for now.
In terms of geopolitcs, Hamas are expressing new demands regarding the deal, with an official response expected to release in less than three days.
Egypt, Qatar and Turkey, the three top Hamas mediators are pressing the organization to accept the deal.
In Europe, a new Russian aerial invasion was spotted in Norway overnight.
Markets haven’t seem to care much overall but watch for headlines about a NATO response, still not expected by much but always a possibility:
European nations are discussing the placement of a “Drone-Wall” and many NATO military assets are being moved to strategic regions in Eastern Europe.