Market Overview - US stock futures rose as the federal government shutdown continued, with Dow Jones Industrial Average futures up approximately 0.2%, S&P 500 futures gaining 0.3%, and Nasdaq 100 futures leading with a 0.4% increase [1] - The S&P 500 and Nasdaq Composite recorded their fourth weekly gains in five, climbing 1.1% and 1.3% respectively, while the Dow advanced 1.1% for its third positive week in the past four [2] Economic Insights - Investors are largely ignoring the government shutdown and its impact on key economic releases, including the delayed jobs report [2] - Insights into the Federal Reserve's perspective are expected this week, with Fed Governor Stephen Miran and Chair Jerome Powell scheduled to speak [3] Company Performance - Hon Hai Precision Industry Co. (Foxconn), a major server production partner for Nvidia, reported an 11% growth in quarterly sales, indicating strong demand for AI-related chips and servers [4][6] - Hon Hai's revenue for the three months ending in September was NT$2.06 trillion ($67.6 billion), aligning with analysts' projections, and the company anticipates a rise in sales this quarter due to robust AI demand [5] Industry Trends - The results from Hon Hai may support the sustainability of the AI infrastructure boom, which has attracted significant investment from both large tech firms and startups [6] - Investors are focusing on suppliers involved in the AI rollout, including chipmakers and networking firms, although concerns about unsustainable valuations persist until AI services become mainstream [6]
Stock market today: Dow, S&P 500, Nasdaq futures rise as government shutdown drags on