US stock futures edged up slightly on Monday, October 6, as the federal government shutdown stretched into a second week. Investors remain optimistic about a continuation of the recent strong rally that has driven major indexes like the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite to new record highs.
Futures for the Dow Jones Industrial Average (YM=F) rose 0.1%, while S&P 500 futures (ES=F) gained 0.3%. The tech-heavy Nasdaq 100 futures (NQ=F) led the momentum with an increase of approximately 0.5%. These modest gains follow a positive week where the S&P 500 and Nasdaq recorded their fourth weekly advance in five weeks, and the Dow posted its third gain in four weeks.
Despite lawmakers’ failure to reach a funding deal, causing continued closure of government offices, investors appear to be shrugging off the political gridlock. The shutdown has delayed the release of important economic data, including the September jobs report. Steve Sosnick, chief strategist at Interactive Brokers, commented, “All news is good news, and no news matters. Missing the jobs report removes one potential obstacle to the market’s relentless rise.”
Without fresh government data, attention now turns to insights from Federal Reserve officials later this week. Fed Governo
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