Other big movers on Tuesday included Visa and Smartsheet. Visa shares fell nearly 4% after a Bloomberg report said the U.S. Department of Justice was preparing an antitrust lawsuit against the company, while Smartsheet rose more than 6% after Blackstone and Vista Equity Partners agreed to buy the software company for $56.50 a share, valuing the deal at $8.4 billion.
Market outlook: Cautious optimism amid stimulus and interest rate expectations
Despite concerns about weakening consumer sentiment, stock markets are expected to continue to rally, driven by optimism surrounding Federal Reserve policy and international stimulus efforts, particularly from China. The Dow, S&P 500 and Nasdaq all posted solid performances in September, rising 1.4%, 1% and 1.2%, respectively.
Going forward, traders are likely to maintain a cautiously bullish stance while awaiting further signs of economic stabilization from both the U.S. and China. Continued gains in technology and industrial stocks and the prospect of lower interest rates could keep the market on an uptrend in the near term. However, domestic economic concerns such as geopolitical risks and consumer confidence will remain key factors to monitor.
