US Futures Rise Amid Shutdown Impasse and Earnings Anticipation
NEW YORK – US stock futures climbed overnight as investors navigated a looming government shutdown and turned their attention to teh start of corporate earnings season.The partial federal shutdown began after Congress failed to reach an agreement on a spending bill before the midnight friday deadline,impacting non-essential government services.
The shutdown’s potential economic impact, while uncertain, adds to existing market anxieties surrounding interest rate policy and global growth. Investors are closely watching for signs of resilience in corporate America as earnings reports begin to roll in,offering a crucial gauge of the economy’s health. Major companies scheduled to report this week include JPMorgan Chase, Wells Fargo, and Citigroup. The current impasse centers on funding levels and policy riders, with negotiations expected to continue over the weekend.A prolonged shutdown could weigh on economic growth and further complicate the Federal Reserve’s monetary policy decisions.
Global Markets Mixed
Asian markets closed broadly lower following a political shift in Japan. The Liberal Democratic Party of Japan’s long-time partner, Komeito, announced its departure from the ruling coalition after Sanae Takaichi was elected LDP leader, citing political differences.
* Shanghai SE (china), -0.94%
* Nikkei (Japan): -1.01%
* Hang Seng Index (Hong Kong): -1.73%
* Nifty 50 (India): +0.50%
* ASX 200 (Australia): -0.13%
European markets showed a mixed performance. the Stoxx Europe 600 index traded near stability, while France’s CAC 40 rose as President Emmanuel Macron seeks a new prime minister to secure a fragile budget deal.
* STOXX 600: +0.05%
* DAX (Germany): +0.15%
* FTSE 100 (UK): -0.17%
* CAC 40 (France): +0.42%
* FTSE MIB (ITALIA): +0.35%
Commodities and Bitcoin
Oil prices continued to fall following a ceasefire agreement between Israel and Hamas in Gaza, paving the way to halt fighting within 24 hours and release Israeli hostages within 72 hours. Iron ore prices in China closed higher, driven by expectations of stronger steel prices.
* Petróleo WTI,-0.20%, at US $61.39 per barrel
* Petróleo Brent, -0.32%, at US $65.01 per barrel
* Iron ore traded on the Dalian exchange, +1.02%, at 795 yuan ($111.52)
Bitcoin (BTC) saw a slight increase, trading at US$121,368.00, up 0.28% from 24 hours prior.
(With Reuters and Bloomberg)
