The Nasdaq led losses as rising Treasury yields piled on pressure and investors got a reminder not to expect a Fed rate cut any time soon.
On Monday, October 2, the U.S. stock market ended mixed. The S&P 500 remained almost unchanged, with utilities experiencing a significant drop. Economic data showed an uptick in ISM manufacturing PMI to 49 in September, up from 47.6 the previous month and surpassing market predictions of 47.8. Additionally, construction spending rose by 0.5% month-over-month, reaching an annual rate of $1,983.5 billion in August. The Nasdaq increased as Nvidia (NASDAQ: NVDA) shares jumped 2.9%, following Goldman