US close: Dow Jones closes higher, Nasdaq heads south

(Sharecast News) - US stocks delivered a mixed performance on Friday, with the Dow Jones closing at yet another record high.

At the close, the Dow Jones Industrial Average was up 0.51% at 46,758.28, while the S&P 500 ticked up 0.01% to 6,715.79 and the Nasdaq Composite saw out the session 0.28% weaker at 22,780.51.

The Dow closed 238.56 points higher on Friday, extending the blue-chip's record-setting rally despite concerns surrounding the Federal Government's shutdown.

The shutdown, now in its third day, has added to investor unease around macroeconomic and policy risks, inflationary pressures, and signs of labour market softening. While past shutdowns have had limited market impact, the duration of the current impasse remains a key focus.

Treasury secretary Scott Bessent warned that the lapse in funding could result in "a hit to the GDP, a hit to growth and a hit to working America", while Donald Trump said Democrats had handed him an "unprecedented opportunity" to cut federal agencies. The Congressional Budget Office estimates around 750,000 federal workers will be furloughed daily.

The shutdown has also triggered a data blackout, with the Labor Department suspending most activity, including today's all-important non-farm payrolls report, leaving the Federal Reserve with less visibility ahead of its October policy meeting.

The standoff began after lawmakers failed to reach a funding agreement by Tuesday's deadline. Democrats have held firm on demands to include an extension of healthcare tax credits in the spending bill, prompting retaliation from Trump and senior Republicans.

On the macro front, two closely followed surveys tracking the US services sector painted a contrasting picture of economic activity in September,though both showed a slowdown in momentum during the month.

The final reading of the S&P Global US services purchasing managers' index came in at 54.2, up from the flash estimate of 53.9 but below the 54.5 recorded in August - pointing to a softening of business activity growth in September. The survey showed a slower increase in demand, as well as a limited rise in hiring, as trade tariffs continued to drive operating expenses higher.

In contrast, the Institute for Supply Management's services survey - which covers a wider range of businesses since it surveys all types of 'non-manufacturing' sectors like agriculture and construction - showed that growth had stalled completely during the month. The ISM PMI fell to the breakeven point of 50, down from 52.0 and well below the market forecast of 51.6.

No major corporate earnings were released on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Unitedhealth Group Inc. (UNH) $360.20 1.83%

Travelers Company Inc. (TRV) $284.56 1.61%

Caterpillar Inc. (CAT) $497.85 1.48%

Johnson & Johnson (JNJ) $188.64 1.43%

Goldman Sachs Group Inc. (GS) $789.98 1.36%

Visa Inc. (V) $349.84 1.12%

Coca-Cola Co. (KO) $66.65 0.83%

JP Morgan Chase & Co. (JPM) $310.03 0.81%

Verizon Communications Inc. (VZ) $43.85 0.62%

Salesforce.Com Inc. (CRM) $240.36 0.62%

Dow Jones - Fallers

Nike Inc. (NKE) $71.93 -3.54%

Boeing Co. (BA) $216.30 -0.52%

Merck & Co. Inc. (MRK) $89.19 -0.36%

3M Co. (MMM) $158.60 -0.09%

American Express Co. (AXP) $329.98 -0.07%

S&P 500 - Risers

Humana Inc. (HUM) $285.25 10.56%

Centene Corp. (CNC) $38.70 5.11%

CIGNA Corp. (CI) $312.99 4.72%

Teleflex Inc. (TFX) $131.07 4.30%

Franklin Resources Inc. (BEN) $23.80 3.88%

Charter Communications Inc. (CHTR) $280.01 3.86%

Chipotle Mexican Grill Inc. (CMG) $41.76 3.70%

Ford Motor Co. (F) $12.67 3.68%

National Oilwell Varco Inc. (NOV) $13.66 3.55%

Thermo Fisher Scientific Inc. (TMO) $544.01 3.50%

S&P 500 - Fallers

Nike Inc. (NKE) $71.93 -3.54%

Philip Morris International Inc. (PM) $153.01 -2.94%

McKesson Corp. (MCK) $740.33 -2.72%

Applied Materials Inc. (AMAT) $217.53 -2.71%

Valero Energy Corp. (VLO) $160.40 -2.61%

Cardinal Health Inc. (CAH) $156.10 -2.52%

MGM Resorts International (MGM) $33.93 -2.36%

Royal Caribbean Cr (RCL) $314.05 -1.89%

Cencora Inc (COR) $304.21 -1.88%

Sl Green Realty Corp. (SLG) $59.56 -1.84%

Nasdaq 100 - Risers

Charter Communications Inc. (CHTR) $280.01 3.86%

Sirius XM Holdings Inc (SIRI) $23.27 2.99%

Align Technology Inc. (ALGN) $132.17 2.70%

Intuitive Surgical Inc. (ISRG) $452.35 2.11%

Gilead Sciences Inc. (GILD) $112.69 1.93%

DENTSPLY Sirona Inc. (XRAY) $13.19 1.77%

Comcast Corp. (CMCSA) $30.90 1.64%

Fiserv Inc. (FI) $127.56 1.43%

Hasbro Inc (HAS) $75.89 0.96%

Microchip Technology Inc. (MCHP) $66.54 0.62%

Nasdaq 100 - Fallers

Mercadolibre Inc. (MELI) $2,172.75 -3.29%

Applied Materials Inc. (AMAT) $217.53 -2.71%

Trip.com Group Limited (TCOM) $73.32 -2.47%

Vertex Pharmaceuticals Inc. (VRTX) $403.30 -1.36%

Texas Instruments Inc (TXN) $180.32 -1.10%

Lam Research Corp. (LRCX) $145.81 -0.80%

Skyworks Solutions Inc. (SWKS) $77.10 -0.35%

Starbucks Corp. (SBUX) $86.42 -0.35%

Costco Wholesale Corp. (COST) $915.38 -0.15%

Alphabet Inc. Class A (GOOGL) $245.35 -0.14%