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Stocks- Wall Street Mixed As Government Shutdown Looms

Investing.com
Wall Street was mixed on Friday.
Wall Street was mixed on Friday.

Investing.com – Wall Street was mixed on Friday as investors shrugged off concerns about a possible U.S. government shutdown.

The S&P 500 rose three and a half points or 0.13% to 2,801.61 as of 10:16 AM ET (15:16 GMT) while the Dow composite decreased 31 points or 0.12% to 25,986.73, and tech heavy NASDAQ Composite was down over 11 points or 0.16% to 7,307.41.

Congress has until 12:00 AM ET (5:00 GMT) to pass a spending bill before the government shuts down. The House of Representatives voted 230-197 on Thursday night for a bill to extend expiring funding through Feb. 16 but disagreements between Republicans and Democrats over immigration legislation threatens to collapse the Senate version of the bill.

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Technology stocks were mostly up after the morning bell, with payments processor Square Inc (NYSE:SQ). surging 3.80% and Facebook (NASDAQ:FB) rising 0.90%. Meanwhile semiconductor Advanced Micro Devices (NASDAQ:AMD) jumped 2.00% while apparel firm Nike (NYSE:NKE) rose 3.10% and Amazon.com (NASDAQ:AMZN) inched up 0.52%.

Elsewhere General Electric (NYSE:GE) slumped 3.04% while computer company IBM (NYSE:IBM) fell 3.52% despite reporting growth for the first time in 22 quarters. American Express (NYSE:AXP) decreased 1.27% and Apple (NASDAQ:AAPL) was down 0.51%.

In Europe stocks were up. In Germany the DAX rose 139 points or 1.05% while France’s CAC 40 increased 26 points or 0.49% and in London the FTSE 100 gained 27 points or 0.36%. Meanwhile Spain’s IBEX 35 was up 41 points or 0.40% and the pan-European Euro Stoxx 50 jumped just over 30 points or 0.81%.

In commodities, gold futures were up 0.57% to $1,334.80 a troy ounce while crude oil futures fell 0.67% to $63.52 a barrel. The U.S dollar index, which measures the greenback against a basket of six major currencies, slumped 0.01% to 90.30.

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