New York Stock Exchange closes with gains

By Mucahithan Avcioglu

ISTANBUL (AA) - The New York Stock Exchange ended the first trading day of the week with gains, even though a government shutdown is looming fast if an agreement is not reached.

The Dow added 0.15%, or 68.78 points, to close at 46,316.07.

The Nasdaq was up 0.48%, or 107.09 points, to close at 22,591.15, while the S&P 500 rose 0.26%, or 17.51 points, to 6,661.21.

The Volatility Index (VIX), also known as the "fear index," rose 5.43% to 16.12.

With the fiscal year ending midnight on Tuesday, Sept. 30 in the US fast approaching, no agreement has been reached on the federal budget. The situation is causing concern, as the Labor Department said if there is a government shutdown, it won't release upcoming key economic data.

The department said it will suspend its data releases – read carefully by economic actors for hints about the state of the economy – if the government shuts down in the coming days, CNBC reported.

Nonfarm payroll employment, initial jobless claims, and inflation data are among the data releases that would be impacted by the possible suspension.

Analysts noted that the core personal consumption expenditures price index, which the Fed uses as an inflation indicator, rose by 2.9% on an annual basis in August, in line with expectations, and that expectations that the Fed will continue to cut interest rates remain strong.

Additionally, President Donald Trump on Monday announced he will impose a 100% tariff on all movies made outside America, claiming the country's film industry has been "stolen" by other countries.

Meanwhile, shares of Electronic Arts (EA) climbed 4% after the video game firm announced it will be taken private in a $55 billion deal by an investor consortium comprised of PIF, Silver Lake, and Affinity Partners.

Big tech shares, particularly chip stocks, posted gains Monday. Nvidia rose 2%, Advanced Micro Devices was up 1.2%, and Micron Technology climbed 4.2%.