FX.co ★ US Futures Edge Higher After Market Pullback

On Friday, US stock futures showed a slight uptick following a pullback in the S&P 500 and Nasdaq Composite from their recent record highs. This movement occurred as investors reassessed the ongoing rally fueled by artificial intelligence, potential interest rate cuts, and the implications of the extended government shutdown. In Thursday’s trading, the S&P 500 and the Nasdaq Composite dipped by 0.28% and 0.08%, respectively, with the Dow Jones Industrial Average dropping by 0.52%. The government shutdown has now stretched into its ninth day, as the Senate has yet to finalize a funding agreement, leading to delays in significant economic data releases that are crucial for guiding the Federal Reserve’s policy decisions. Investors are now eagerly awaiting third-quarter earnings reports for further insight into the overall economy and the impact of AI advancements. Notably, major banks like Citigroup and JPMorgan are scheduled to release their earnings next week. Meanwhile, both Delta Air Lines and PepsiCo saw gains exceeding 4% on Thursday, spurred by positive quarterly results that suggest resilient consumer demand.