Market Overview - U.S. stock futures are mixed as investors react to the ongoing government shutdown, while technology shares rally, providing support [1][2] - Nasdaq 100 futures are leading with gains of approximately 0.36% to 0.5%, driven by positive sentiment in the semiconductor sector [2] - S&P 500 futures are up around 0.17% to 0.2%, indicating a modest risk appetite, while Dow Jones futures are slightly down by 0.02% to 0.1% [2] Major Market Indexes - The S&P 500 closed at a record high of 6,711.20, up approximately 0.3%, while the Nasdaq Composite gained 0.4% to reach 22,755.16 [3] - The Dow Jones Industrial Average also set a record high at 46,441.10, increasing by 0.1% [3] - Goldman Sachs raised its S&P 500 projection to 6,800, citing strong performance from major U.S. companies [3] Upcoming Market Events - The government shutdown is causing delays in key economic data releases, including the jobs report and weekly jobless claims [4] - A Challenger Job Cuts report indicated a 37% drop in September job cuts from August, which may influence rate-cut expectations [4] - The third-quarter earnings season is set to begin in mid-October, with analysts forecasting a 7.9% year-over-year earnings growth for S&P 500 companies [5] Major Stock News and Corporate Developments - The semiconductor sector is experiencing a rally, with shares of Advanced Micro Devices (AMD) up about 3%, Broadcom (AVGO) up 2%, and Nvidia (NVDA) gaining approximately 1.5% [6] - Tesla (TSLA) shares are up nearly 2% ahead of its third-quarter delivery figures [7] - Stellantis (STLA) reported a 6% rise in U.S. sales, leading to a stock increase of up to 7% in overseas trading [8] Corporate Earnings News - Conagra Brands (CAG) shares jumped 5.4% after reporting first-quarter fiscal 2026 adjusted earnings that exceeded estimates [9] - Nike (NKE) saw a significant rise of 6.4% after its first-quarter fiscal 2026 revenues beat expectations [9] - Corteva, Inc. (CTVA) shares fell 9.1% after announcing plans to split its seed and crop-protection businesses [9] Broader Market Trends - Gold futures are rising, hovering near a record at $3,910 an ounce, reflecting its status as a safe-haven asset [11] - Bitcoin advanced 1% to approximately $118,800, reaching its highest level since mid-August [11] - The 10-year Treasury yield slipped slightly, trading between 4.09% and 4.11% [11]

Core Insights - Microsoft is expected to report fiscal third-quarter results with a revenue projection indicating an annual growth of 10.6%, the slowest rate in two years [1] - Analysts are particularly interested in CEO Satya Nadella's comments regarding business prospects amid new tariffs announced by President Trump [1] Revenue and Financial Performance - Microsoft reported earnings per share of $3.22 and revenue of $68.42 billion [5] - The company has committed to $80 billion in capital spending for AI data centers in the current fiscal year, although CFO Amy Hood indicated a slowdown in capital spending growth for the upcoming 2026 fiscal year [2] Market and Competitive Landscape - Microsoft shares have decreased by approximately 7% year-to-date, while the S&P 500 index has declined by 5% [3] - Analysts from Bank of America and BMO have recently lowered their growth estimates for Azure cloud services, which experienced revenue shortfalls in the fiscal second quarter [3][2] Strategic Partnerships and Adjustments - Microsoft announced a change in its relationship with OpenAI, gaining a right of first refusal for new computing capacity but not being obligated to deliver it [4] - OpenAI has launched the Stargate AI infrastructure project in collaboration with Oracle and SoftBank [4]