Stock market today: Dow, S&P 500, Nasdaq futures rise as government shutdown drags on

US stock futures are advancing this Monday, with Dow, S&P 500, and Nasdaq futures up 0.2% to 0.4%, extending last week's strong performance despite the ongoing federal government shutdown. Investors are largely overlooking the political gridlock and delayed economic data, with some strategists noting a "nihilism" where the absence of news supports the market's "relentless rise." Attention this week shifts to Federal Reserve official speeches, non-government economic data, and the commencement of the third-quarter earnings season.

Analysis

Stock market today: Dow, S&P 500, Nasdaq futures rise as government shutdown drags on US stock futures rose early Monday morning as the federal government shutdown entered another week, as Wall Street looked to build on a strong run for equities that pushed major indexes to fresh record highs. Futures tied to the Dow Jones Industrial Average (YM=F) pushed up 0.2% while contracts on the S&P 500 (ES=F) gained 0.3%. Nasdaq 100 futures (NQ=F) popped 0.4%. The modest moves follow another upbeat week for the market. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) each logged their fourth weekly gain in five, climbing 1.1% and 1.3%, respectively. The Dow (^DJI) also advanced 1.1%, its third positive week in the past four. Investors have largely looked past Washington gridlock after Congress failed again to reach a funding deal, extending the government shutdown and delaying key economic releases — starting with Friday's jobs report. “There’s a certain amount of nihilism," Steve Sosnick, chief strategist at Interactive Brokers, told Yahoo Finance. "All news is good news, and no news matters. By not getting this [jobs report], that’s one less impediment in the market’s relentless rise.” Even without fresh data, investors will get insights into the Federal Reserve’s thinking this week. Fed Governor Stephen Miran is set to speak Wednesday, followed by Chair Jerome Powell on Thursday. Data from non-government sources will highlight the week, with no immediate end in sight to the shutdown. The University of Michigan's consumer sentiment report for October looks likely to be the major release. Meanwhile, third-quarter earnings season is set to commence this week, with notable reports set to include PepsiCo (PEP), Delta Air Lines (DAL), and Levi Strauss (LEVI) on Thursday. LIVE 1 update US equity futures are indicating a positive start to the week, with contracts on the Dow, S&P 500, and Nasdaq 100 advancing by 0.2% to 0.4%, extending a bullish trend that saw the S&P 500 and Nasdaq log their fourth weekly gain in five. This market strength persists despite a prolonged federal government shutdown, which has delayed the release of key economic data, including the jobs report. Market sentiment appears to be discounting the political gridlock, a phenomenon one strategist described as "nihilism," where the absence of potentially negative data is viewed as a positive for the market's continued rise. In this data vacuum, investor focus is shifting toward alternative catalysts, including upcoming speeches from Federal Reserve officials like Chair Jerome Powell, non-government data releases such as the University of Michigan consumer sentiment report, and the commencement of the third-quarter earnings season, which kicks off with reports from PepsiCo (PEP), Delta Air Lines (DAL), and Levi Strauss (LEVI).

Key Decisions for Investors

• Investors should place heightened importance on commentary from Federal Reserve officials this week, as monetary policy signals will likely drive market direction in the absence of key government economic data.
• With the third-quarter earnings season beginning, initial reports from consumer-facing companies like PepsiCo and travel-sector leaders like Delta will serve as crucial barometers for corporate health and forward guidance.
• While the market's upward momentum is strong, investors should recognize that it is partially sustained by a data void; a resolution to the shutdown could reintroduce volatility as delayed economic reports are released.