Global Stocks Gain As Shutdown Looms, Gold Hits New Record On Dollar Weakness

Benzinga

Global stocks rose and the dollar slipped as investors brace for a possible U.S. shutdown. Gold hit a record high, Treasury yields fell, and oil declined ahead of an OPEC+ meeting and Iraq’s pipeline restart.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Global stocks climbed and the dollar fell.

00:04Monday's investors braced for a potential U.S. government shutdown

00:06that could delay key economic data releases, according to Reuters.

00:10The MSCI All World Index rose 0.16%, while Europe's stock 600 gained 0.3%,

00:16tracked for a 1.1% September increase and its third consecutive monthly rise.

00:20Gold jumped 1.6% to a fresh record of $3,819.59 an ounce,

00:26turned by a weaker dollar and concerns over prolonged political gridlock.

00:30Analysts at Bank of America warned a closure could leave the Federal Reserve

00:33relying on private data when it leads on October 29th,

00:36potentially lowering the odds of a rate cut.

00:38S&P 500 and NASDAQ futures rose, while 10-year Treasury yields fell,

00:42collecting shifting expectations on Fed rate cuts after strong U.S. economic data.

00:47Oil prices slid with Brent down 1.69%, to $68.97,

00:52as Iraq resumed pipeline close to Turkey and had an OPEC-plus meeting expected

00:57to approve a production hike.

00:58For all things money, visit Benzinga.com.

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