U.S. stocks ended mixed on Monday as the federal government shutdown entered another week.
The Dow Jones Industrial Average fell 63.31 points, or 0.14 percent, to 46,694.97. The Standard and Poor's 500 rose 24.49 points, or 0.36 percent, to 6,740.28. The Nasdaq Composite Index gained 161.16 points, or 0.71 percent, to 22,941.67, closing at a fresh record high.
Seven of the 11 primary Standard and Poor's 500 sectors finished higher, led by consumer discretionary and utilities, which advanced 1.05 percent and 0.98 percent, respectively. Real estate and consumer staples were the biggest laggards, falling 0.99 percent and 0.59 percent.
In a major boost for the artificial intelligence sector, AMD announced a multiyear agreement with OpenAI to supply chips. The deal also gives OpenAI the option to acquire up to 10 percent of AMD, one of Nvidia's key rivals. AMD's shares surged 23.71 percent on the news, lifting other semiconductor names, including Applied Materials and Micron.
Bank stocks also drew attention, with Comerica shares rallying more than 10 percent after Fifth Third Bancorp agreed to acquire the regional lender for 10.9 billion dollars in an all-stock deal. The merger will create the ninth largest U.S. bank by assets.
Despite the ongoing federal government shutdown, investor sentiment remained resilient. The absence of key economic data has complicated the Federal Reserve's decision-making ahead of its meeting later this month to determine whether to cut interest rates again.
Look ahead, several Federal Reserve officials are scheduled to speak this week, including Governor Stephen Miran on Wednesday and Chair Jerome Powell on Thursday. The third-quarter earnings season will also kick off, with results due from PepsiCo, Delta Air Lines, and denim maker Levi Strauss.
U.S. stocks close mixed as federal gov't shutdown continues
China is willing to strengthen communication, enhance trust, eliminate interference, and deepen cooperation with Canada to bring bilateral relations forward on a steady and sound track in solid strides under the new circumstances, said Chinese Foreign Minister Wang Yi on Thursday.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, met with Canadian Foreign Minister Anita Anand in Beijing on the day.
Referring to Canadian Prime Minister Mark Carney's visit to China, the first by a Canadian prime minister in eight years, Wang said the trip marks a milestone in bilateral ties and signals a turning point in the relationship.
The leaders of the two countries will hold meetings and talks, which are expected to open up new prospects for bilateral relations, said Wang.
The world today is undergoing profound and complex changes, and the impact of China-Canada relations transcends the bilateral scope, Wang noted.
Wang said that China and Canada have different social systems, stemming from different historical and cultural heritage, and based on the choices of their respective people.
He urged both sides to view each other in a rational and amicable manner with an inclusive mindset, handle issues on the basis of mutual respect, focus on the agenda of cooperation, and send positive messages so as to foster optimism, inject greater confidence into the development of bilateral relations, and jointly build a new type of strategic partnership between China and Canada.
Anand said the new Canadian government attaches great importance to relations with China. She also added that Prime Minister Carney looks forward to engaging in in-depth exchanges with Chinese leaders during the visit to set the course for the development of bilateral relations, resume dialogue in various fields, pursue more mutually beneficial outcomes, enhance coordination and cooperation in multilateral affairs, and further advance the strategic partnership between the two countries.
China ready to work for steady, sound ties with Canada: FM
