"The U.S. government shutdown, now in its tenth day, has stalled key economic data, leaving investors to navigate uncertainty with limited visibility. President Trump's threat of a "massive increase" in tariffs on Chinese goods, combined with China's new port fees on U.S. ships and tightened rare earth mineral export controls, has heightened market anxiety, dimming prospects for a near-term rally."
"Abbott (NYSE: ABT) surged after Benchmark initiated coverage with a Buy rating and a $145 price target. The firm praised Abbott's diversified portfolio across diagnostics, devices, and nutrition, projecting mid-single-digit sales growth and double-digit EPS growth. Despite trade tensions impacting global markets, Abbott's international exposure and resilient business model bolstered investor optimism, supporting share gains. T-Mobile (NASDAQ: TMUS) climbed as Benchmark raised its price target to $295 from $275, maintaining a Buy rating."
The SPDR S&P 500 ETF fell 1.59% midday as renewed U.S.-China trade tensions and a prolonged U.S. government shutdown increased market uncertainty. The tenth-day shutdown has stalled key economic data, reducing visibility for investors. President Trump's tariff threats, China's new port fees on U.S. ships, and tightened rare-earth export controls heightened market anxiety and dimmed near-term rally prospects. Corporate earnings, starting next week with major banks like JPMorgan and Citigroup, could provide support. Analysts raised ratings and targets on individual stocks, including Benchmark's Buy on Abbott and higher targets for T-Mobile and Oracle amid cloud and AI growth expectations.
Read at 24/7 Wall St.
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