"Government shutdown reprieve fails to boost stock market, S&P 500 slumps"
TL;DR Summary
The stock market had a mixed start to the fourth quarter, with the Nasdaq leading the way as US lawmakers averted a government shutdown and auto deliveries data rolled in. The S&P 500 turned slightly positive, while the Dow Jones Industrial Average fell. The tech-heavy Nasdaq Composite was up as Goldman Sachs strategists noted historically cheap valuations in the sector. However, headwinds such as the Federal Reserve's message on higher rates, rising oil prices, and Treasury yields continue to weigh on the market. The United Auto Workers strike and concerns about China's growth outlook also remain.
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