Stocks Muted Before the Open as Investors Weigh Fed Rate Outlook After U.S. Reopens

Economic Data and Government Actions - The reopening of the government removes investor uncertainty and allows for the release of delayed economic data, including the September jobs report, which is critical for shaping rate-cut expectations ahead of the Fed's December meeting [1][3] - White House Press Secretary stated that the October jobs and inflation reports are "likely never" to be published due to the shutdown, impairing economic data and leaving policymakers at the Fed without critical information [1] Market Performance - In the latest trading session, Wall Street's major indices ended mixed, with the Dow reaching a new all-time high [2] - Advanced Micro Devices (AMD) saw a +9% increase after forecasting faster sales growth driven by strong demand for data center products [2] - On Holding (ONON) jumped about +18% after posting positive Q3 results and raising its full-year revenue growth guidance [2] - BILL Holdings (BILL) surged over +11% amid reports of exploring options, including a potential sale [2] - Conversely, most members of the Magnificent Seven stocks fell, with Meta Platforms (META) and Tesla (TSLA) declining more than -2% [2] Federal Reserve Outlook - Fed officials are divided on whether inflation or a weakening labor market poses a greater risk, with some advocating for unchanged rates due to solid growth [5] - U.S. rate futures indicate a 53.9% probability of a 25 basis point rate cut and a 46.1% chance of no rate change at the next FOMC meeting in December [6] Earnings Reports - S&P 500 companies are projected to post a +14.6% increase in Q3 profits year-over-year, nearly double analysts' expectations [8] - Major companies like Walt Disney (DIS) and Applied Materials (AMAT) are scheduled to report quarterly figures [8] International Market Developments - The Euro Stoxx 50 Index rose +0.26%, reaching a new record high, with technology stocks leading gains [9] - Japan's Nikkei 225 Stock Index closed higher, driven by optimism over the end of the U.S. government shutdown [13] - China's Shanghai Composite Index hit a fresh 10-year high, led by gains in the new energy sector, as investors await key economic data [12]