US stock futures were mostly up Sunday evening as investors came off a volatile stretch marked by the government shutdown ending, a stalled rally in the tech sector, and fading hopes for Federal Reserve rate cuts before a crucial update on the US labor market.
Dow Jones Industrial Average futures (YM=F) held steady, while contracts tied to the S&P 500 (ES=F) and Nasdaq 100 (NQ=F) rose 0.3% and 0.5%, respectively.
The Nasdaq Composite (^IXIC) endured a volatile stretch and ended last week down as megacap tech names including Alphabet (GOOG), Amazon (AMZN), Broadcom (AVGO), and Meta (META) lost traction. The S&P 500 (^GSPC) and Dow (^DJI) managed to finish the week slightly higher, though both were hit with sharp pullbacks on Thursday.
A full return to a complete slate of economic data after the shutdown’s end remains up in the air. But investors will get their first official government snapshot of the labor market this week with the long-awaited release of September’s jobs report on Thursday. The report will provide a delayed picture of the jobs market in the US, as a more cautious tone from Fed officials last week throws doubt on the central bank’s rate move next month.
The coming week sees some of the last major releases for earnings season, particularly for AI trade. Nvidia (NVDA) is set for its blockbuster report on Wednesday, always an intensely scrutinized event. Investors will also get fresh insight into consumer strength as retailers led by Walmart (WMT) report. Home Depot (HD), Target (TGT), Lowe’s (LOW), and Gap (GAP) also release reports this week.
Bitcoin (BTC-USD), meanwhile, is serving as a health check for the crypto market at large, as the coin dropped 30% in a little over a month from a record high of over $126,000 to below $94,000. The drop erased year-to-date gains that were sparked by the Trump administration’s more crypto-friendly stance and indicated investors could be shifting to a risk-off mindset.
