As the U.S. government shutdown continues, stock futures have remained stable. Late Sunday night, futures for the Dow Jones Industrial Average increased by 37 points, marking a 0.1% rise. The S&P 500 and Nasdaq-100 also saw similar gains of 0.1%.
Recent Stock Market Performance
The recent week was notable for Wall Street, with the S&P 500 and Nasdaq Composite experiencing their fourth weekly increase in five weeks. The S&P 500 rose by 1.1%, while the Nasdaq recorded a gain of 1.3%. Meanwhile, the Dow posted its third increase in four weeks, also advancing by 1.1%.
Despite the uncertainties stemming from the ongoing government shutdown, investors have largely remained optimistic. A lack of agreement among lawmakers regarding funding has delayed the release of important economic data, including the September jobs report originally scheduled for publication last Friday.
Market Insights and Predictions
Tom Lee, head of research at Fundstrat, expressed his views on the current market situation. He believes that the shutdown and the resulting data limitations should not overshadow positive market trends. “This is a ‘sidebar’ issue, and stronger stock performance is likely from October through December,” he stated.
Lee predicts the S&P 500 could reach 7,000 by the end of the year, potentially exceeding that mark. He advises investors to look for buying opportunities, especially if stocks show weakness.
Upcoming Federal Reserve Speeches
In addition to market trends, several Federal Reserve officials are scheduled to speak this week. Key speakers include:
- Fed Governor Stephen Miran on Wednesday
- Chair Jerome Powell on Thursday
These discussions could provide further insights into economic conditions and potential monetary policy changes, impacting future market dynamics.
