FX.co ★ US Futures Flat After Mixed Session

US stock futures experienced minimal movement on Wednesday following a mixed session for major indices. The previous trading day, Tuesday, saw the Dow Jones Industrial Average rise by 1.18% to reach a new record high. The S&P 500 edged up by 0.21%, whereas the Nasdaq Composite fell by 0.25%. This shift occurred as investors transitioned their focus from technology stocks to blue-chip and cyclical stocks due to heightened optimism surrounding a potential funding agreement anticipated to pass in the House this week. Additionally, progress in the Senate towards resolving the government shutdown positively influenced investor sentiment, particularly in sectors vulnerable to economic changes. Notable contributors to the Dow's performance included major consumer companies like Walmart, Home Depot, and McDonald's, which saw gains of 1%, 1%, and 2.6%, respectively. Conversely, stocks associated with artificial intelligence faced declines amid valuation concerns, with Nvidia dipping by 3%, AMD by 2.6%, and Palantir by 1.3%. In terms of economic data, the ADP report indicated that private employers reduced their payrolls in October, sparking increased apprehension about a potential softening in the labor market.