Government Shutdown, Gold Miners, AI Layoffs And More: This Week In Economy

From the potential impact of a government shutdown on the stock market to the future of AI companies and the gold mining industry, here are the top stories that shaped the week’s financial news.

Government Shutdown: S&P 500’s Historical Trends Hint At Unexpected Outcome

Despite the looming threat of a government shutdown, the stock market might not react as expected. In the past 11 shutdowns, the S&P 500, as represented by the Vanguard S&P 500 ETF (NYSE:VOO), actually experienced gains in eight of them. The average increase was 1.46% over seven days surrounding the events.

Read the full article here.

Markets Today: Robinhood Soars, Oil Dips, Gold Defies Gravity

The week commenced with modest gains in technology and growth sectors on Wall Street. The S&P 500 inched up 0.3% to 6,660, while the Nasdaq 100 led the major indexes with a 0.6% rise. This was amid investor anticipation for a flood of economic data, culminating in the September labor market report on Friday.

Read the full article here.

Stock Market Today: S&P 500, Nasdaq Futures Rise Amid Government Shutdown

See Also: Think Shutdowns Crash Stocks? The S&P 500 Has Other Plans – Benzinga

On Friday, U.S. stock futures surged, following record gains on Thursday. Despite the government shutdown, Wall Street remained unfazed, with AI-led optimism propelling the markets higher. Most S&P 500 sectors saw a decline on Thursday, but the information technology and communication services sectors advanced.

Read the full article here.

AI Tech Layoffs: U.S. Labor Market Trending Downward

The U.S. tech labor market has been on a downward trend, with major firms implementing cutbacks post-pandemic. Despite the AI hype and the rise of OpenAI, hiring within the sector and beyond has remained frozen. This has resulted in a significant gap between capital flows and actual hiring.

Read the full article here.

Gold Miners Undervalued Despite Historic Rally

Gold mining stocks have experienced a remarkable rally, with some companies seeing nearly 200% gains year-to-date. Despite this, a leading macro strategist believes the sector is still significantly undervalued and is poised for historic profit margins. The sector’s Price-to-Earnings (P/E) ratios have actually contracted, indicating that mining stocks are growing faster than share prices.

Read the full article here.

Read Next: 

• AI Companies Are Burning Billions, Tech Workers Are Getting Wrecked —And Wall Street Doesn’t Care – Benzinga

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock