Youtube·2025-09-30 15:00Market Overview - US stock futures are lower as the final trading day of the third quarter begins, following a strong quarter for stocks, with the S&P 500 on track for its best September since 2010, rising 3% [1][2][6] - The broader market is up over 7% for the quarter, led by consumer discretionary and tech sectors, both up nearly 11% [27][30] Government Shutdown Concerns - A potential government shutdown is imminent, with Congress needing to pass a funding bill, which could delay key economic indicators and furlough federal workers [2][6][9] - The odds of a shutdown are estimated at around 90%, with both parties seemingly at an impasse [9][10] Tariff Developments - President Trump has ordered new tariffs, including 10% duties on softwood timber and 25% on certain wood furniture products, effective October 14 [3][22] - These tariffs aim to strengthen supply chains and create high-quality jobs, but their impact on the economy remains to be seen [4][24] Sector Performance - Consumer staples are the only sector in the red for the quarter, down more than 3%, while big tech stocks have seen significant gains, with Nvidia up double digits and Intel up nearly 60% [26][28][30] - Big tech now comprises nearly 39% of the S&P 500 index, reflecting its growing dominance [30] Company-Specific News - Spotify shares are down following the announcement of CEO Daniel Ek stepping down, with two executives taking over as co-CEOs [32] - Exxon plans to cut 2,000 jobs, representing about 3-4% of its global workforce, as part of an efficiency drive [33] - Coreweave shares have surged after signing a deal with Meta worth up to $14.2 billion for computing power [34]