US: Mixed day for stocks amid government shutdown worries

[NEW YORK] Financial and oil-linked equities were among the Wall Street winners Monday on a mostly down day as markets weigh the risk that congressional gridlock could lead to a US government shutdown.

Two of the three major indices finished in the red, as the volatility in trading throughout September looks poised to continue until month's end.

Markets have been grappling with worries over the fate of Chinese property giant Evergrande and expectations that the US Federal Reserve will soon taper its stimulus payments.

Investors are bracing for a week of uncertainty trying to decipher whether Washington will avert a messy government shutdown. US lawmakers have until September 30 to pass a funding bill, even a temporary one, to keep the government operating.

The Dow Jones Industrial Average ended up 0.2 per cent at 34,869.37.

But the broad-based S&P 500 shed 0.3 per cent to 4,443.11, and the tech-rich Nasdaq Composite Index fell 0.5 per cent to 14,969.97.

Petroleum producers ExxonMobil and Chevron both jumped more than two per cent as oil prices continued to strengthen amid rising demand and supply bottlenecks.

JPMorgan Chase and Bank of America also climbed more than two per cent as the yield on the 10-year US Treasury note advanced.

Among individual companies, MGM Resorts International rose 1.1 per cent after reaching an agreement to acquire The Cosmopolitan resort in Las Vegas from Blackstone. Blackstone fell 1.4 per cent.

AFP