U.S. stock futures rose Monday after a positive October, with more important corporate earnings in the spotlight as the ongoing government shutdown limits the release of key economic data.
At 05:40 ET (10:40 GMT), Dow Jones Futures climbed 92 points, or 0.2%, S&P 500 Futures gained 28 points, or 0.4%, and Nasdaq 100 Futures rose 142 points, or 0.6%.
The main averages of Wall Street ended higher on Friday, finishing off a busy week filled with mega-cap technology sector earnings, central bank interest rate decisions, and face-to-face trade talks between U.S. and Chinese leaders.
The S&P 500 and Dow Jones Industrial Average climbed 2.3% and 2.5%, respectively, in October, while the NASDAQ Composite outperformed, gaining 4.7%.
Palantir leads earnings parade More than 300 S&P 500 companies have posted third-quarter results thus far, and of those, over 80% have beaten expectations, according to data from FactSet.
There are another 100-plus companies reporting this week, including data analytics giant Palantir Technologies (NASDAQ:PLTR) after the closing bell on Monday.
In August, the company, whose operations also involve software for the the defense sector, lifted its full-year revenue forecast for the second time in 2025, citing strong demand for its AI-linked services from both businesses and governments.
Advanced Micro Devices (NASDAQ:AMD) will report on Tuesday, with investors eyeing AI chip demand after strong results from rivals.
While, Uber Technologies (NYSE:UBER) and McDonald’s (NYSE:MCD) are due on Wednesday, offering a snapshot of consumer spending and service-sector resilience.
Payrolls set to be shutdown casualty Market sentiment was supported last week by the Federal Reserve’s decision to cut its benchmark interest rate by 25 basis points to a range of 3.75%–4.00%.
While Chair Jerome Powell signaled that future cuts are not guaranteed, investors welcomed the move as a sign that the central bank remains committed to supporting growth amid easing inflation pressures.
The ongoing U.S. government shutdown, which is flirting with becoming the longest such closure in American history, has left investors and Fed policymakers without a range of critical data points needed to establish the state of the U.S. economy.
The trend is likely to continue this week, depriving markets of the latest nonfarm payrolls report, an all-important gauge of employment in the world’s largest economy that is typically released on the first Friday of every month. A tracker of job openings and labor turnover is also set to be postponed.
Investors are likely to turn to the ISM manufacturing release for November, which contains the employment component, due later in the session, for clues, as well as Wednesday’s ADP jobs release.
Crude gains post OPEC+ meeting Oil prices rose Monday after a group of major producers decided against output hikes in the first quarter of next year, easing fears of a global supply glut.
Brent futures gained 0.3% to $64.97 a barrel, and U.S. West Texas Intermediate crude futures rose 0.3% to $61.18 a barrel.
