U.S. stock futures rose early Monday morning after a historic rally on Wall Street. This rise comes despite the continuing government shutdown affecting several operations.
Market Performance on October 6
At 4:39 a.m. EST on October 6, futures showed the following movements:
- Nasdaq 100 (NDX): Up 0.45%
- S&P 500 (SPX): Up 0.26%
- Dow Jones Industrial Average (DJIA): Up 0.11%
During Friday’s trading session, the three major indexes displayed mixed results. Traders responded to various economic headlines, allowing all three to reach record intraday highs. However, only the S&P 500 and Dow Jones closed at new all-time highs, influenced by setbacks in key tech stocks.
Despite the mixed outcomes, the weekly performance was encouraging:
- Dow Jones: Up 1.10%
- S&P 500: Up 1.09%
- Nasdaq 100: Up 1.15%
Government Shutdown Impact
Investors remain largely unfazed by the government shutdown, which has closed federal offices after lawmakers failed to negotiate a deal. This delay has postponed the release of significant economic data, including the September nonfarm payrolls report.
Upcoming Earnings Season
The third quarter ended on September 30, paving the way for the approaching earnings season. Major financial institutions are expected to begin reporting on October 14. Notable companies to watch this week include:
- Constellation Brands (STZ)
- Delta Air Lines (DAL)
- PepsiCo (PEP)
- Levi Strauss (LEVI)
Current Market Indicators
As of Monday, significant indicators include:
- U.S. 10-year Treasury yield: Approximately 4.13%
- WTI crude oil futures: Near $61.61 per barrel
- Gold Spot price: Close to $3,944 per ounce
Global Market Overview
European stocks opened lower on October 6, following the unexpected resignation of France’s Prime Minister, Sebastien Lecornu, which raised new political concerns. In Asia-Pacific markets, the trading results were mixed:
- Hong Kong’s Hang Seng index: Down 0.67%
- Japan’s Nikkei: Up 4.75%
- Topix: Up 3.10%
These fluctuations were influenced by recent political developments in Japan, where the ruling Liberal Democratic Party elected Sanae Takaichi as its new leader.
