US stock futures are surging today: Dow, S&P 500, Nasdaq futures rise as U.S. shutdown drags into 2nd week — will Wall Street’s 4-week winning streak hit new records again?

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.

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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 Governor Stephen Miran is scheduled to speak on Wednesday, followed by Chair Jerome Powell on Thursday. Additionally, private data such as the University of Michigan’s October consumer sentiment report will provide important economic signals while the shutdown continues.

The third-quarter earnings season is also set to begin, with companies like PepsiCo, Delta Air Lines, and Levi Strauss reporting results. Goldman Sachs strategist David Kostin forecasts companies will beat low earnings expectations this quarter, buoyed by strong economic fundamentals and AI-driven growth optimism. He expects the S&P 500 profits to rise modestly by 7.2%, with sales growth slightly slowing to 5.9%.In premarket trades, Tesla shares rose over 2%, fueled by anticipation of a new product event scheduled for Tuesday. Micron Technology also climbed 3% following a Morgan Stanley upgrade, while UiPath shares surged 10% on recent AI partnership announcements.Meanwhile, gold prices surged past $3,940 an ounce, nearing $4,000, as investors sought safe-haven assets amid the uncertainty created by the government shutdown.

Overall, stock market futures are signaling continued investor confidence despite political deadlock and missing economic reports. The current optimism reflects a belief that resilient economic growth, easing interest rates, and AI innovation will sustain the market rally into the quarter ahead.

U.S. stock futures inched higher today:

U.S. stock futures inched higher Monday morning as the federal government shutdown entered its second week, with Wall Street aiming to resume its record-breaking rally.

• Dow Jones Industrial Average futures (YM=F) rose 0.22% to 47,136.00,
• S&P 500 futures (ES=F) gained 0.30%, and
• Nasdaq 100 futures (NQ=F) climbed 0.50%.

These modest advances follow a strong week in which the S&P 500 and Nasdaq Composite each notched their fourth weekly gain in five, rising 1.1% and 1.3% respectively. The Dow Jones Industrial Average also added 1.1%, marking its third positive week in the past four.

Despite Washington’s continued stalemate over a spending deal, investors appear largely unfazed. The gridlock has delayed key economic reports, including last Friday’s crucial U.S. jobs report.

“All news is good news, and no news matters,” said Steve Sosnick, Chief Strategist at Interactive Brokers. “By not getting this jobs report, that’s one less impediment in the market’s relentless rise.”

The shutdown’s data freeze means traders are leaning on private surveys and corporate results for guidance. Federal Reserve Governor Stephen Miran will speak Wednesday, followed by Chair Jerome Powell on Thursday — both expected to provide clues on the Fed’s interest-rate outlook.

Earnings season kicks off with PepsiCo, Delta, and Levi Strauss

The week also marks the unofficial start of the third-quarter earnings season, with early results due from PepsiCo (PEP), Delta Air Lines (DAL), and Levi Strauss (LEVI).

According to Goldman Sachs strategist David Kostin, companies in the S&P 500 are set to beat conservative profit estimates, buoyed by solid U.S. growth and optimism around artificial intelligence.

Analysts tracked by Bloomberg Intelligence forecast 7.2% earnings growth for the quarter — the smallest increase in two years — alongside 5.9% sales growth, down slightly from 6.4% in Q2.

Tech stocks and AI momentum drive market optimism

The Nasdaq 100 led gains in futures as AI-related stocks continued to power the broader rally.

Tesla (TSLA) shares rose 2% pre-market after the EV maker teased a potential product announcement scheduled for Tuesday. The company recently reported record quarterly deliveries as buyers rushed to take advantage of an expiring federal tax credit.

Meanwhile, Micron Technology (MU) gained 3.4% pre-market after a Morgan Stanley upgrade lifted its price target to $220 from $160.

UiPath (PATH) jumped 10% following news of new AI partnerships with Nvidia (NVDA), Alphabet (GOOG), Snowflake (SNOW), and OpenAI.

Gold nears $4,000 amid government shutdown and rate cut hopes

In commodities, gold futures (GC=F) surged 1.32% to $3,960.50 per ounce, approaching a new record high.
The metal is benefiting from rising uncertainty and growing bets that the Federal Reserve will cut rates later this month. With official data delayed, traders are relying on private indicators, which have kept expectations for a 25-basis-point rate cut alive.

Global markets: Japan rallies, France falls

Overseas, Japan’s Nikkei 225 soared 4.75% to 47,944.76, hitting an all-time high after Sanae Takaichi was confirmed as the country’s next prime minister.

In contrast, France’s CAC 40 dropped 1.3% after Prime Minister Sébastien Lecornu’s surprise resignation rattled investors and pushed French bond yields higher.

With the government shutdown stalling U.S. data releases, corporate earnings, AI optimism, and rate-cut speculation are expected to drive sentiment this week.

Investors are also keeping close watch on Jerome Powell’s remarks, which could shape expectations ahead of the Fed’s next policy decision.