U.S. Stocks Poised To Extend Recent Upward Trend In Early Trading

Market Overview - Stocks are expected to move higher in early trading, continuing the upward trend seen in recent sessions, with S&P 500 futures up by 0.1 percent [1] - Major averages have reached new record highs despite the ongoing U.S. government shutdown [1] Economic Impact of Government Shutdown - Traders appear to be unconcerned about the economic impact of the shutdown, although Treasury Secretary Scott Bessent warned it could negatively affect U.S. economic growth [2] - Bessent highlighted that the shutdown could lead to a decrease in GDP and impact working Americans [2] - The delay in the release of key U.S. economic data, including the Labor Department's monthly jobs report, is a significant concern for the markets [2][3] Market Sentiment and Predictions - There is an expectation that the government shutdown may last until mid-October, which could hinder the Federal Reserve's ability to make informed interest rate decisions [3] - The ISM's services PMI is anticipated to slightly decline to 51.7 in September from 52.0 in August, but a reading above 50 still indicates growth [4] Stock Performance - Major averages closed higher for the fifth consecutive session, with the Nasdaq up by 88.89 points (0.4 percent), the Dow rising by 78.62 points (0.2 percent), and the S&P 500 increasing by 4.15 points (0.1 percent) [5] - Mixed performance was observed in overseas trading, with Japan's Nikkei 225 Index rising by 1.9 percent and Hong Kong's Hang Seng Index falling by 0.5 percent [5] European Market Trends - Major European markets showed mixed results, with the U.K.'s FTSE 100 Index up by 0.5 percent, while the French CAC 40 Index and the German DAX Index fell by 0.1 percent and 0.2 percent, respectively [6] Commodity Prices - Crude oil futures increased by $0.25 to $60.73 per barrel after a previous decline [6] - Gold futures rose by $17.90 to $3,886 per ounce following a significant drop [6] Currency Exchange Rates - The U.S. dollar is trading at 147.35 yen, up from 147.23 yen, and valued at $1.1730 against the euro, compared to $1.1714 previously [7]