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Gold futures reach $4,000; S&P 500 declines after recent records

The major stock indexes dipped on Monday. Investors were watching political turmoil in France, Japan, and the U.S. shutdown. Gold futures also hit $4,000 per ounce, a first.

Gold's rally was fueled in part by the uncertainty surrounding the U.S. government shutdown. U.S. Gold Futures for December Delivery were up 0.6% to $3,998.50 after reaching a high price of $4,009.00.

Investors waited to see what happened in France where the shock occurred.

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Sebastien lecornu, the Prime Minister of Canada, raised concerns on Monday about the fiscal outlook for Canada.

The U.S.

Government shutdown

The major U.S. indexes are closing at record highs. This is due to optimism about the possibility of Federal Reserve interest rate reductions and artificial intelligence-related deals.

Jake Dollarhide is the chief executive officer at Longbow Asset Management, located in Tulsa.

Is the AI trade right or the nervous Nellies? ?... We'll find out what the answer is in the coming weeks and months."

The Dow Jones Industrial Average dropped 71.17, or 0.15 %, to 46.623.80. The S&P 500 declined 2.72 points or 0.05% to 6,737.17. And the Nasdaq Composite rose 1338 points or 0.05% to 22,952.50.

The MSCI index of global stocks fell by 1.38 points or 0.14% to 994.68.

The STOXX 600 Index fell by 0.02%.

The CAC 40 in Paris was the last to gain 0.1% after its biggest one-day drop since late August.

President Emmanuel Macron is under increasing pressure to call snap elections.

Elections to the Parliament

Lecornu has a chance of holding if he resigns or even quits.

Last-ditch discussions

On Tuesday, I met with representatives of different parties to try and find a solution.

The yield on French bonds rose by 2 basis points, to 3.59%.

Investors in Japan snapped up the sale of

government debt

In a gesture of easing nerves after

Sanae Takaichi

The election of, who advocates low interest rates and high expenditure, as leader of the ruling Party triggered a sell-off of domestic bonds, the currency, and sent stocks to new records.

The Japanese yen fell 0.53% to 151.15 dollars, while the euro dropped 0.44% to $1.1657.

Benchmark U.S. yields are on the decline

Investors waited

The Fed will be holding an auction for three-year bonds and making comments in advance of its meeting this month. The yield on the benchmark U.S. 10 year notes dropped 1.8 basis points from late Monday to 4.144%.

Prices of oil were lower. U.S. crude dropped 0.63% to $61.31 per barrel. Brent was down to $65.02 a barrel, a 0.69% drop on the day.

Investors digested the news that the

World Bank

The company raised its growth forecasts for China and the rest of the region in 2025, but warned that momentum would slow next year.

(source: Reuters)