FX.co ★ US Futures Steady as Traders Downplay Shutdown

U.S. stock futures remained relatively stable on Thursday, following the S&P 500's achievement of new all-time highs in the previous session. Investors appeared to largely overlook concerns regarding the ongoing government shutdown. On Wednesday, the S&P 500 saw an increase of 0.34%, the Dow Jones Industrial Average edged up by 0.09%, and the Nasdaq Composite climbed by 0.42%. The impasse primarily arose from Democrats' determination to link the legislation to the extension of health care tax credits benefiting millions of Americans. Market participants also shrugged off disappointing private payroll figures, as the ADP report indicated a decrease of 32,000 jobs for September. Furthermore, the Labor Department announced it would not publish the September nonfarm payrolls report this week due to the shutdown. In the corporate sector, pharmaceutical stocks such as Pfizer, Biogen, and Merck observed gains in after-hours trading, following the Trump administration's announcement of an agreement with Pfizer under its "most-favored-nation" drug pricing initiative.