Fresh off weekly losses, the Dow, S&P 500, and Nasdaq all started the week with solid gains. AI stocks seemingly regained their wings after a few days of pessimistic speculation and profit taking last week, with Nvidia (NVDA) pushing back toward record highs. Meanwhile, a potential government shutdown is looming ahead of the Oct. 1 deadline. And as we head into the final trading day of what is often a seasonally bearish month, all three major indexes are headed for strong September wins.

OIL FALLS ON SUPPLY CONCERNS, GOLD HITS MORE RECORDS

Oil prices fell sharply today after a rise in global crude supplies. Iraq resumed oil exports via Turkey over the weekend, while the Organization of the Petroleum Exporting Countries and their allies (OPEC+) plans an output hike for November. Fresh off its largest weekly gain in over three months, November-dated West Texas Intermediate (WTI) crude fell $2.27, or 3.45%, to settle at $63.45 per barrel. 

U.S. gold hit record highs today, as investors targeted the safe-haven asset amid government shutdown fears and geopolitical tensions. U.S. gold futures for December delivery rose 1.2% to $3,855.20 per ounce.

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