Stock futures are experiencing a slight uptick this morning following a streak of five consecutive days of gains for major market indexes. This surge comes as investors remain optimistic and appear to be downplaying the impact of the ongoing government shutdown. Futures associated with the Dow Jones Industrial Average are up 0.2%, while those linked to the S&P 500 and Nasdaq have added 0.1%. Bitcoin is trading at $120,400, marking its highest point since mid-August. Meanwhile, gold prices have seen a slight increase to $3,880 an ounce, remaining just below the record highs achieved earlier in the week. The yield on the 10-year Treasury note has decreased to 4.08%, a figure that has implications for various consumer loan rates.
The federal government shutdown has resulted in delays for key economic indicators, including the highly anticipated release of the September jobs report. Senate leaders are expected to vote again today on interim funding measures aimed at re-opening the government. However, unless a compromise is reached, the shutdown may extend into the following week, as no votes are scheduled for the weekend. President Trump has been in discussions regarding potentially laying off some of the nearly 600,000 workers who have been furloughed, with layoffs possibly commencing as early as Friday. The lack of the jobs report complicates the Federal Reserve’s decision-making process regarding interest rate cuts.
In the commodities market, oil futures increased slightly due to a significant fire at Chevron’s El Segundo refinery in California on Thursday night. Fortunately, no injuries have been reported, and the situation is reportedly under control. West Texas Intermediate futures rose 0.4% to $60.60 per barrel but had peaked as high as $61.40 earlier in the trading session. Earlier expectations that major oil-producing nations might consider increasing production had pressured oil prices in recent days, which ended last week at $66. Chevron shares remained relatively unchanged during premarket trading.
On the corporate front, Applied Materials, a semiconductor equipment manufacturer, is expecting a revenue decline of $710 million due to new export restrictions announced by the Bureau of Industry and Security. In a filing with the Securities and Exchange Commission, the company indicated that these restrictions could affect sales significantly in the fourth quarter and into 2026. Market reaction reflected this news, with Applied Materials’ shares down more than 2% before the market opened.
In contrast, shares of Rumble, a video platform provider, are on the rise following the announcement of a partnership with AI firm Perplexity. The collaboration aims to integrate AI-powered search tools into Rumble’s platform and introduce a subscription bundle that combines Rumble Premium with Perplexity Pro. Rumble also plans to advertise Perplexity’s Comet browser on its platform. The partnership is designed to enhance content discoverability for creators and viewers alike. After experiencing a drop of over 40% in its stock price earlier this year, Rumble’s shares spiked by 12% in premarket trading following the announcement.
