US pre-open: Dow futures edge up, S&P and Nasdaq dip after record close

(Sharecast News) - Major indices were mixed ahead of the bell on Tuesday after the S&P 500 and Nasdaq were given a boost from strength in chip and banking stocks in the previous session, with investors largely shrugging off the ongoing US Federal Government shutdown. As of 1230 BST, Dow Jones futures were up 0.07%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.04% and 0.03% softer, respectively.

The Dow closed 63.31 points lower on Monday, while the S&P 500 and Nasdaq Composite closed at record highs, driven by optimism surrounding increased M&A activity.

Stocks were only slightly lower prior to the open, despite the Federal Government shutdown entering its second week, having only a limited impact on sentiment, with investors looking past delays to key macro data, including the September non-farm payrolls report, originally scheduled for release last Friday.

On the macro front, no major data points were scheduled for release on Tuesday, but Federal Reserve bankers Raphael Bostic, Michelle Bowman, Stephen Miran, and Neel Kashkari will all deliver speeches throughout the course of the day.

Things were also quiet on the earnings front, with investors looking ahead to next week and the beginning of Q3 earnings season.





Reporting by Iain Gilbert at Sharecast.com