US Stock Market Today: Dow, S&P 500, Nasdaq Futures Flat as US Shutdown Drags On; Nvidia, Delta, and Intel in Focus
Dow, S&P 500, and Nasdaq futures steady as US government shutdown hits day 10. Nvidia leads AI rally, gold tops $4,000, and Delta gains on strong Q3 results. Qualcomm falls amid China probe.
US Stock Market Today: Dow, S&P 500, Nasdaq Futures Flat as US Shutdown Drags On; Nvidia, Delta, and Intel in Focus
US stock futures traded mostly sideways of course on Friday as Wall Street awaited some signs of resolution for the government shutdown that has by now gone on into day 10.
Dow Jones Industrial Average (YM=F) futures rose 0.22% while the S&P 500 (ES=F) got 0.06% in gains and the Nasdaq 100 (NQ=F) inched up a fraction, 0.15%. The markets paused for a breath after racing off to record highs earlier this week; the recent lack of economic data and policy uncertainties weighs somewhat.
Shutdown shuts down data flow
The prolonged government shutdown has kept at bay crucial economic data releases, including the CPI. Reportedly, the Bureau of Labor Statistics called back some furloughed staffers to churn out this highly anticipated inflation read by the end of the month. Investor eyes are also on the University of Michigan's consumer sentiment reading for October.
Nvidia and AI stocks build the support
After having formed an all-time high on Thursday, Nvidia (NVDA) continued to rally, extending its gains. A further surge in the optimism for AI stocks followed after Applied Digital (APLD) reported a revenue boost in the vicinity of 25% in premarket trading and inked a new deal with CoreWeave.
Gold prices sent a strong signal by rising back to above $4,000 per ounce. Silver followed the same suit for its safe-haven rally for the second time in recent days.
The earning season will begin next week
Markets are also preparing for a new round of quarterly earnings led by JPMorgan (JPM) and Citibank (C). Analysts estimate softer performances with corporate profits affected by tariffs and slowing consumer demand.
Stock highlights
Shares of Delta Air Lines (DAL) continued to trade higher with earnings supported by demand for premium cabins.
Intel (INTC) gained 2% post-unveiling of its Core Ultra 3 processor.
Qualcomm (QCOM) slipped 3% on antitrust probes on its Autotalks acquisition launched by China.
Elastic (ESTC) jumped 10% premarket, along with American Homes 4 Rent (AMH) up 9%.
With the gridlock showing signs of dissipating, investors are still cautiously optimistic that Washington will sign an agreement, thus unlocking economic data that are vital for adult life in the market and restore confidence in US markets.
