Wall Street’s three major indexes were close to flat after weak economic data and ahead of a widely expected U.S. government shutdown, which would delay key economic reports as well as heighten investor anxiety about the Fed’s interest rate policy outlook.
Dollar weakens after strong rally as US government shutdown looms. The dollar slid against yen and major currencies following a rally last week after stronger-than-expected U.S. economic data and ahead of a key nonfarm payrolls report that could offer further clues on the Federal Reserve’s policy path.
Gold prices surged past $3,800 an ounce for the first time, setting a new record as investors flocked to the safe-haven asset on U.S. rate cut expectations, fears of a potential government shutdown and escalating geopolitical tensions.
Shares of Beyond Meat slumped to a record low on Monday after the maker of plant-based meat launched an exchange offer for convertible bonds to cut more than $800 million in debt. The stock was last down 32.1%
US-based spot Ether exchange-traded funds have posted five straight net outflow days as the asset’s price slid around 10% over the week. On Friday, spot Ether ETFs closed the trading week with $248.4 million in daily outflows, bringing total weekly outflows to $795.8 million
Crude oil flowed on Saturday through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Turkey for the first time in 2-1/2 years, after an interim deal broke a deadlock, Iraq’s oil ministry said.
