Dow Adds 238 Points as UNH, CAT Pop: Stock Market Today
The lack of a September jobs report didn't seem to worry market participants, with the data delayed due to the ongoing government shutdown.


Stocks closed mixed Friday, but ended with notable weekly gains even as the government shutdown dragged on for a third day. Blue chips outperformed with health insurer UnitedHealth Group (UNH) and construction giant Caterpillar (CAT) lifting the Dow Jones Industrial Average to another record closing high.
Indeed, the Dow finished Friday up 0.5% at 46,758. The broader S&P 500 (+0.01% at 6,715) also notched a fresh all-time closing high, while the tech-heavy Nasdaq Composite (-0.3% at 22,780) slipped in late-day selling. The three main indexes ended with weekly gains ranging between 1.2% and 1.4%.
UnitedHealth emerged as one of the best Dow Jones stocks today, adding 1.8%. UNH shares are now up nearly 20% since it was revealed in mid-August that the health care stock had been added to the Berkshire Hathaway equity portfolio.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Caterpillar wasn't far behind, rising 1.5%. In late September, BofA Securities analyst Michael Feniger lifted his price target on the old-school industrial stock to $517 from $495, calling the company's Solar Turbines subsidiary a "hidden gem."
The company's reciprocating engine and turbines "are increasingly being utilized for backup AND prime solutions on data centers," and high demand for these products "suggests growth upside," the analyst explains.
Shares are up more than 6% since Feniger's price-target hike and are 37% higher for the year to date.
Jefferies eyes 20% downside for Apple
Elsewhere on the Dow, Apple (AAPL) edged up 0.4% even after Jefferies analyst Edison Lee downgraded the mega cap to Underperform (the equivalent of Sell) from Hold. The analyst also trimmed his price target to $205.16 from $205.82, representing implied downside of 20% to current levels.
Lee cited an "overly bullish iPhone outlook" for his bearish stance, noting that strong demand for the iPhone 17 is already priced into the blue chip stock.
ISM data in focus after shutdown delays jobs report
Wall Street was supposed to hear the latest labor market update this morning with the scheduled release of the September jobs report. However, the employment data are delayed due to the ongoing government shutdown.
This made the Institute for Supply Management's (ISM) Services Purchasing Managers Index (PMI) the most important report on Friday's economic calendar.
The ISM Services PMI fell to 50% in September from 52% in August. This is the first time the index arrived at 50 – the breakeven point between expansion and contraction – since January 2010.
"The large U.S. services sector stalled in September, while price pressures intensified likely due to tariffs," says Sal Guatieri, senior economist at BMO Capital Markets. "Business activity contracted slightly and for the first time since the 2020 shutdowns," while "staffing levels shrank for a fourth straight month."
Guatieri notes that the shutdown puts the Fed in a tough spot due to the delay of economic data. "But if other economic indicators also land on the soft side, it will likely bite its lip over sticky inflation and cut rates again later this month."
According to CME Group FedWatch, futures traders are currently pricing in a 97% chance the central bank cuts rates by a quarter-percentage point at its meeting later this month – up from 88% one week ago. The probability of another rate cut in December is 85%.
Related content
- What Does a Government Shutdown Mean for Stocks?
- Government Shutdown Puts IPO Resurgence at Risk
- Earnings Calendar and Analysis for October 6-10
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Kiplinger Quiz of the Week: Test Yourself on the Week's Stories
Quiz The Nike stock price, Amazon's settlement and the shutdown were all covered by Kiplinger this week — but why? How much do you know about the week's financial news?
-
Ask the Editor: Tax Questions on Charitable Deductions
Ask the Editor In this week's Ask the Editor Q&A, we answer reader questions on the charitable deduction.
-
I'm a Financial Adviser: The OBBB Is a Reminder for Older People to Have a Long-Term Plan
The new tax bill presents a good opportunity for retirees to revisit tax plans, look into doing some Roth conversions and consider plans for long-term care.
-
I'm an Insurance Expert: This Is Exactly Why Your Insurance Rates Are Soaring (and What You Can Do)
A dramatic rise in the frequency and cost of severe weather and wildfires means you need to prepare, prepare, prepare — no matter where you live — for higher premiums.
-
Stocks at New Highs as Shutdown Drags On: Stock Market Today
The Nasdaq Composite, S&P 500 and Dow Jones Industrial Average all notched new record closes Thursday as tech stocks gained.
-
Government Shutdown Puts IPO Resurgence at Risk
The IPO market has been sizzling in recent months, but the government shutdown threatens to put a short-term halt to public offerings. Here's why.
-
Q3 2025 Post-Mortem From an Investment Adviser: Markets Continue to Climb, Gold Shines
The third quarter saw market gains driven by Fed rate cuts and strong earnings, despite high valuations and concerns about speculative trading and job growth. Gold and international stocks could be potential hedges.
-
Moving Abroad? You Might Need a Cross-Border Financial Adviser
If you want to live in another country long term, you could benefit from an expert's guidance. Here's how to find a good qualified adviser to help with residency requirements, documentation, financial laws and tax impacts.
-
S&P 500 Sees New Highs on Shutdown Day: Stock Market Today
Most of its components were in the red, but the S&P 500 Index still managed to hit a new intraday all-time high.
-
Government Shutdown to Delay Data, Including Key Jobs Report
While government shutdowns typically don't impact stock returns, they can delay the release of key economic data – including the monthly jobs report.