Overview
- S&P 500 rose 0.1% and the Dow added 0.2% while the Nasdaq slipped 0.2%, marking the first weekly loss in four and a roughly 3% weekly decline for tech.
- Large-cap technology stocks led the weakness, with Alphabet down 2.1% and Broadcom off 1.7%, as traders cited fresh AI rivalry commentary as a headwind.
- The University of Michigan’s preliminary sentiment fell to 50.3, the lowest since mid‑2022, and Treasury yields were steady with the 10‑year near 4.09% and the 2‑year around 3.56%.
- The US government shutdown, now the longest on record, has halted key releases such as October jobs and threatens CPI, prompting analysts to flag a higher risk of a December pause, consistent with Chair Jerome Powell’s ‘driving in the fog’ caution.
- ASX 200 futures point to a gain of about 0.3% and the Australian dollar trades near US64.9c, with ANZ reporting full‑year cash profit down 14% to $5.8 billion.