Dow, S&P 500, Nasdaq futures rise on AI hopes as shutdown delays jobs report

Dow, S&P 500, Nasdaq futures rise on AI hopes as shutdown delays jobs report


US stock futures drifted higher on Friday after hitting fresh records, with Wall Street fixated on the promise of AI even as the government shutdown drags on and delayed the release of the monthly jobs report.

Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) all made gains of around 0.1%.

Wall Street would ordinarily be on edge for Friday’s release of the September jobs report. However, the government shutdown delayed the release of the data, leaving Wall Street in the dark even as some lawmakers — most notably Democratic Sen. Elizabeth Warren — have called for the Trump administration to proceed with publishing it.

This jobs report has been especially anticipated, as Federal Reserve policymakers have stressed job market weakness as a major factor in their decision on interest rates at their next meeting and beyond. In its absence, Wall Street has turned to a bevy of private data this week that has confirmed the labor market’s sharp slowdown.

But even amid the unanswered questions on the health of the US economy, stocks keep rising to new records, largely on the back of continued AI fervor. OpenAI’s valuation climbed to $500 billion, making the company the most valuable startup in the world.

On Friday, new AI deals boosted optimism. Hitachi LTD (6501.T) teamed up with OpenAI (OPAI.PVT) on energy projects, while Fujitsu (6501.T) expanded work with Nvidia (NVDA).

Meanwhile, the end of the government shutdown remains elusive. Democrats continue to push for the continuation of healthcare subsidies as a condition of funding the government, while Republicans refuse to negotiate on the issue until the government is back up and running. At the same time, President Trump has continued to ramp up his threats to fire federal workers and defund projects in Democratic-leaning states.

LIVE 10 updates

  • September jobs report delayed amid government shutdown

    Typically, around this time, we would turn to the Bureau of Labor Statistics’ monthly employment report to assess how many jobs the US added in September.

    Economists polled by FactSet expected the US to have added around 50,000 jobs during the month and for the unemployment rate to have held steady at 4.3%.

    But with the government closed for the third day, that hotly anticipated data is delayed, leaving investors and economists to piece together a picture of a softening labor market with data from job openings, private payrolls, and other indicators.

    As my colleagues Emma Ockerman and Kerry Hannon note, the longer the shutdown stretches on, the bigger a deal it will be for those awaiting the data:

    Read more here.

  • Jenny McCall

    Good morning. Here’s what’s happening today.

  • Brian Sozzi

    Amazon welcomes the bulls

    The bulls are out in force today on Amazon (AMZN) ahead of its third quarter earnings release in a few weeks.

    DA Davidson analyst Gil Luria reiterated a buy rating on Amazon, citing an increasingly upbeat outlook for Amazon AWS cloud sales. Goldman Sachs analyst Eric Sheridan also has a buy rating on Amazon today, as he is also bullish on cloud sales.

    Sheridan says Amazon is a preferred name in his large-cap tech coverage. He sees Amazon AWS sales growing a steady 20% plus for the balance of this year and into 2026.

    And you thought Amazon just made bank from Prime memberships. Nope!

  • Tesla’s tax credits are ending, but the AI benefit is only beginning

    Tesla (TSLA) shares are up 1% in premarket trading on Friday. But the stock fell 5% on Thursday despite better-than-expected global third quarter deliveries, which were likely lifted by customers rushing to cash in on EV tax credits before they expire.

    As Yahoo Finance’s Hamza Shaban writes in today’s Morning Brief, the rush to cash in on tax breaks before their end comes at a moment of uncertainty for Tesla.

    Read more here.

  • Jenny McCall

    Goldman’s Solomon expects US economy, deals to accelerate

  • Jenny McCall

    Premarket trending tickers: Applied Materials, Tesla and Hitachi

    Here’s a look at some of the top stocks trending in premarket trading:

    Applied Materials (AMAT) stock fell 3% in premarket trading on Friday after reporting a $600 million hit to fiscal 2026 revenue after the US expanded its restricted export list in a blow to sectors such as semiconductors, aircraft and medical equipment.

    Tesla (TSLA) stock rose more than 1% before the bell on Friday after a reported blowout third quarter global deliveries, as the expiration of the $7,500 federal tax credit in the US likely juiced sales.

    Hitachi (6501.T) shares rose as much as 9%, the most since April 10, after the company announced a tie-up with OpenAI (OPAI.PVT).

  • Jenny McCall

    OpenAI tie-up boosts Hitachi shares

    Hitachi (6501.T) shares rose as much as 9%, the most since April 10, after the company announced a tie-up with OpenAI (OPAI.PVT), the latest in a growing list of pacts between Japanese tech firms and US artificial intelligence giants.

    Bloomberg News reports:

    Read more here.

  • Jenny McCall

    Nvidia and Fujitsu agree to work together on AI robots and other technology

    US technology giant Nvidia (NVDA) has teamed up with Japanese telecommunications and computer maker, Fujitsu (6702.T) and agreed to work on AI products to help deliver smart robots and other innovations using Nvidia’s chips.

    The news sent Fujitsu shares up by 3% on Friday.

    AP reports:

    Read more here.

  • Oil price heading towards weekly loss

    Bloomberg reports:

    Oil was on track for the biggest weekly decline since late June, ahead of an OPEC+ meeting that’s expected to result in the return of more idled barrels, exacerbating concerns around oversupply.

    Brent (BZ=F) traded near $65 a barrel, down around 8% for the week, while West Texas Intermediate (CL=F) was below $61. The alliance is scheduled to meet online on Sunday to make a decision on output for November, and could discuss fast-tracking supply hikes as the group seeks to reclaim market share.

    There are already early signs that global oversupply may be emerging in the Middle East, and the International Energy Agency expects the glut to swell to a record next year — in part due to the return of OPEC+ production. Some Wall Street banks predict Brent will slide into the $50s-a-barrel range.

    Read more here.

  • Alibaba captures AI hope during mammoth bounce back

    Alibaba (BABA) continues to attract attention from hedge funds and retail investors with hope that the companies $250 billion hot streak is set to continue.

    Bloomberg reports:

    Read more here.



Source link