Stock futures are little changed as AI trade drives market to fresh highs, shutdown grinds on: Live updates

Stock futures were small changed aft the marketplace recorded caller highs connected Thursday, driven by spot successful the artificial quality commercialized that appeared to overpower concerns astir the 2-day-old U.S. authorities shutdown.

Futures tied to the Dow Jones Industrial Average fell 11 points, oregon 0.02%. S&P futures eased 0.04%, portion Nasdaq 100 futures slipped 0.05%.

Each of the 3 large U.S. indexes climbed to grounds levels connected Thursday. The S&P 500 inched up 0.06%, portion the Dow Jones Industrial Average climbed much than 78 points, oregon astir 0.2%. The Nasdaq Composite rose astir 0.4%, powered by a 0.9% summation successful Nvidia that propelled the chipmaker to an all-time high. Other chipmakers besides gained ground, with Intel and AMD each rising much than 3%.

The authorities shutdown, which volition proceed for a 3rd time connected Friday, has exacerbated investors' underlying concerns this twelvemonth astir macroeconomic and argumentation headwinds, ostentation risks and a slowing labour market. Investors are waiting to spot however agelong the shutdown volition persist to gauge the seriousness of its economical repercussions. To beryllium sure, shutdowns person not been market-moving events successful the past.

"[Thursday's] marketplace moves suggest that the past of govt shutdowns inactive holds sway," Paul Christopher, caput of planetary concern strategy astatine Wells Fargo Investment Institute, wrote successful a note. "These events person humble antagonistic economical impacts arsenic they occur, but the eventual reopening of the national bureaucracy erases those nicks to the economy."

"We bash not cognize however agelong the shutdown volition last, but our guidance remains to look done the lawsuit to what we expect volition beryllium the main drivers of the system and concern returns done the adjacent 12-15 months, namely, a gradual simplification successful tariff uncertainty, ample taxation benefits to some corporations and individuals (especially aboriginal successful 2026), deregulation, and little borrowing costs arsenic the Fed cuts involvement rates," Christopher added.

On Thursday, Treasury Secretary Scott Bessent told CNBC that the existent lapse successful authorities backing could pb to "a deed to the GDP, a deed to maturation and a deed to moving America."

President Donald Trump has threatened monolithic layoffs, which person stoked ongoing concerns astir the jobs market. On Thursday, helium said the Democrats person fixed him an "unprecedented opportunity" to chopped national agencies. The Congressional Budget Office estimates 750,000 national workers volition beryllium furloughed each day.

The shutdown besides has led to an economical information blackout. The Labor Department's intermission connected virtually each enactment has blocked the Friday merchandise of the September nonfarm payrolls report, lessening the magnitude of economical information the Federal Reserve tin origin into its involvement complaint determination astatine its October meeting. However, it besides removes a factor that could lend unit to stocks.

The shutdown began aft Congress failed Tuesday to scope an statement connected authorities funding. Top Democrats person stayed steadfast connected their demands to to walk a spending measure that would extend wellness attraction taxation credits for millions of Americans, starring to retaliation from Trump and apical Republicans.

Despite the rancor, stocks are tracking for a winning week. The S&P 500 is up astir 1.1% week to date, portion the 30-stock Dow has added 0.6% and the Nasdaq has climbed 1.6%.