FX.co ★ US Futures Slip as Funding Proposals Fail

U.S. stock futures saw a slight downturn on Tuesday amid the ongoing government shutdown, which has now entered its seventh day due to the Senate's rejection of both Democratic and Republican funding bills. Democratic leader Chuck Schumer contradicted President Donald Trump's assertion that discussions with Democrats were active. Nonetheless, Wall Street commenced the week positively, as the S&P 500 and the Nasdaq Composite reached new record levels, with increases of 0.36% and 0.71% respectively, although the Dow slipped by 0.14%, breaking its six-day winning streak. The market gains were bolstered by activity related to AI deals and anticipations of a Federal Reserve interest rate decrease. Advanced Micro Devices (AMD) surged by 23.7% after announcing a multiyear contract to provide AI chips to OpenAI, potentially leading to OpenAI acquiring up to a 10% stake in AMD. Other major technology stocks experienced growth as well, including Tesla at 5.5%, Microsoft at 2.2%, and Palantir Technologies at 3.7%.