US Stock Market Today: S&P 500 Futures Climb as Shutdown Fears Ease
US stock futures are climbing this morning as investors digest some rare good news from Washington. The government shutdown, on track to be the longest ever, looks set to wrap up soon after the Senate approved a funding deal through the end of January. For everyday investors, that means less worry about missed paychecks or market disruptions from political gridlock. Meanwhile, new data shows Americans borrowed $13.09 billion more on credit in September than expected, which points to continued strength in consumer spending. The big question is whether this new confidence and willingness to spend is strong enough to offset ongoing concerns about rising interest rates and still-sticky inflation, especially for companies relying on shoppers, such as those in retail and travel, or for bank stocks that often move with government policy debates.
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Expedia Group (EXPE) soared 17.55% after strong Q3 earnings, a fresh buyback, and several analyst upgrades.
Sandisk (SNDK) jumped 15.31% as analysts hiked the price target, highlighting growth in the cloud business.
Affirm Holdings (AFRM) surged 11.61% on upbeat earnings and optimism regarding expansion of the Amazon partnership.
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Ubiquiti (UI) fell 19.40% even though it reported higher earnings and a dividend increase.
Take-Two Interactive Software (TTWO) dropped 8.08% after releasing weak Q3 guidance and continuing to report net losses.
Block (XYZ) slid 7.73% following cautious analyst outlooks after its earnings report.
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Technology and manufacturing earnings dominate the spotlight as investors search for early clues on consumer and enterprise demand.
Cisco Systems (CSCO) posts Q1 results on Wednesday after the close, providing a close look at enterprise IT spending trends.
GlobalFoundries (GFS) reports third-quarter earnings Wednesday morning, setting the tone for semiconductor supply chain health and future chip capacity.
Occidental Petroleum (OXY) unveils Q3 numbers after Monday's market close, offering insight into US energy profitability and capital returns.
Tyson Foods (TSN) delivers Q4 results Monday morning, important for tracking food inflation and consumer demand shifts in staples.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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