U.S. Stock Futures Rally Ahead of Jobs Data Amid Shutdown Fears
U.S. stock futures rose on Monday as Wall Street attempted to bounce back from last week’s losses, with investors focused on the upcoming September jobs report and the risk of a government shutdown.
Dow Jones Industrial Average futures gained over 200 points (0.5%), S&P 500 futures rose 0.6%, and Nasdaq-100 futures added 0.7%. The rebound follows a volatile week where major indexes slipped, led by concerns over the durability of the AI trade and uncertainty around Federal Reserve rate cuts.
Shares of Oracle climbed more than 1% in premarket trading, while Nvidia gained 0.7%, signaling renewed investor interest in top tech stocks. Cannabis stocks surged after former President Donald Trump endorsed cannabinoids for seniors, with the AdvisorShares Pure U.S. Cannabis ETF jumping nearly 25%.
Beyond equities, gold hit record highs above $3,800 per ounce as investors sought safety, while oil prices fell below $65 a barrel amid speculation of an OPEC+ production hike.
This week is critical for markets. The September nonfarm payrolls report, expected Friday, is projected to show 43,000 new jobs and unemployment steady at 4.3%. A “Goldilocks” result — not too hot to trigger inflation fears, nor too weak to suggest a slowdown — could stabilize the rally. However, a government shutdown could delay the release of the data.
Despite short-term jitters, September remains positive overall, with the S&P 500 up 2.8%, Nasdaq up 2.9%, and Dow up 1.5% month-to-date. Still, analysts warn that political uncertainty and Fed policy will dictate near-term direction.
