U.S. stock futures were up early Monday following a record-setting rally on Wall Street, despite an ongoing government shutdown. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.45%, 0.26%, and 0.11%, respectively, at 4:39 a.m. EST on October 6.
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During Friday’s regular trading session, the three major indexes ended mixed as traders reacted to multiple market and economic headlines. All three averages reached record intraday highs, but only the S&P 500 and Dow Jones ended the day at new all-time highs. The Nasdaq’s gains were limited by declines in several major tech stocks.
Despite mixed daily results, all three major indexes posted weekly gains. The Dow Jones climbed 1.10%, the S&P 500 advanced 1.09%, and the Nasdaq 100 added 1.15%.
Investors appear largely unconcerned about the potential consequences of a prolonged government shutdown. Lawmakers failed to reach a deal again, keeping government offices closed. As a result, the release of key economic data, including the September nonfarm payrolls report originally set for Friday, has been postponed until the government reopens.
The quarter ending September 30 has concluded, and the earnings season is set to kick-start soon. Major banks and financial institutions will start reporting results on October 14. This week’s key reports include Constellation Brands (STZ), Delta Air Lines (DAL), PepsiCo (PEP), and Levi Strauss (LEVI).
Meanwhile, the U.S. 10-year Treasury yield was up, floating near 4.13%. WTI crude oil futures were trending higher, hovering near $61.61 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $3,944 per ounce on Monday.
Elsewhere, European stocks opened lower on October 6, following the abrupt resignation of France’s Prime Minister, Sebastien Lecornu, sparking fresh political concerns.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets traded mixed on Monday, with Chinese markets remaining closed for the Mid-Autumn Festival.
Hong Kong’s Hang Seng index declined 0.67%. Meanwhile, Japan’s Nikkei advanced 4.75%, and the Topix surged 3.10%, following the ruling Liberal Democratic Party’s election of Sanae Takaichi as its new leader.
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