Stock futures showed a mixed performance this morning following a remarkable run as major indexes closed at record highs yesterday. Despite the ongoing uncertainty surrounding a government shutdown, investors remained optimistic. Futures associated with the S&P 500 index, which reached a record peak, noted a rise of 0.2%. In contrast, futures for the Dow Jones Industrial Average fell slightly after the blue-chip index recorded its second straight day at a record high. Futures linked to the tech-centric Nasdaq saw an increase of 0.6%. Meanwhile, gold futures hovered around $3,910 an ounce, nearing an all-time high, and Bitcoin climbed to $118,700, marking its highest valuation since mid-August. The yield on the 10-year Treasury note remained stable at 4.10%, largely unaffected by market fluctuations.
The government shutdown continues to disrupt key operations, including the anticipated release of economic data. Legislative attempts to keep the government funded have stalled, with the Senate not convening today. As a result, the shutdown is likely to persist beyond Friday, when lawmakers will next have a chance to vote on a funding solution. This impasse is expected to delay critical reports, including initial jobless claims and the much-awaited September jobs report, potentially affecting up to 900,000 federal workers who may face temporary layoffs.
In corporate news, Tesla is projected to announce a rise in third-quarter deliveries, which may be attributed, in part, to the imminent expiration of government tax credits for electric vehicles. Analysts have estimated that Tesla delivered approximately 446,790 vehicles in the third quarter, marking an increase from 384,122 in the previous quarter, although still approximately 4% lower than year-over-year figures. The anticipated surge in deliveries comes amidst an enhanced focus from CEO Elon Musk on advancements in self-driving capabilities and AI services. Following these developments, Tesla shares were up about 2% in premarket trading, with the stock boasting a 14% increase in 2025.
In the automotive sector, Stellantis shares surged by 6% in premarket trading after the company reported a 6% increase in U.S. sales compared to the same period last year. September alone saw a remarkable 16% surge in sales. Jeff Kommor, head of U.S. sales, highlighted the growth across Jeep, Ram, Chrysler, and FIAT brands, signifying the company’s return to form despite reporting a net loss earlier in the year attributed to tariffs.
Lastly, OpenAI, the creator of ChatGPT, has achieved a $500 billion valuation following recent transactions that allowed employees to sell shares in the company. This development positions OpenAI as the world’s most valuable startup, surpassing SpaceX. The stock sales, totaling approximately $6.6 billion, involved notable investors such as Thrive Capital, SoftBank Group, and T. Rowe Price. Earlier this year, OpenAI was valued at around $300 billion, showcasing remarkable growth within a short span.
