U.S. stock futures held steady on Sunday night after Wall Street’s record rally last week, even as the government shutdown showed no sign of ending. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 Index (SPX) were up 0.11%, 0.19%, and 0.2%, respectively, at 9:22 p.m. EDT on October 5.
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On Friday, stocks ended mixed as investors reacted to a mix of market and economic headlines. Even so, 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%. All three major averages hit record highs intraday, but only the S&P 500 and Dow Jones closed at new all-time highs on Friday, while the Nasdaq’s gains were limited by weakness in several key tech stocks.
Investors dismissed worries about the government shutdown. Lawmakers once again failed to reach a funding deal, keeping many offices closed. As a result, key economic data, including the September jobs report, which was originally scheduled for Friday, has been delayed until the government reopens.
Earnings season is picking up pace. While a few companies reported last week, the main season begins on October 14 with major financial and tech firms. This week’s key reports include Constellation Brands (STZ), Delta Air Lines (DAL), PepsiCo (PEP), and Levi Strauss & Co. (LEVI), among others.
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