U.S. stock futures slightly up as govt. shutdown in focus

S&P 500 Futures gained 0.1% to 6,704.0 points, Nasdaq 100 Futures added 0.1% to 24,761.25 points, while Dow Jones Futures advanced 0.1% to 46,606.0 points

U.S. stock index futures rose slightly on Sunday evening with focus chiefly on bipartisan negotiations to avoid a looming government shutdown later this week.

Futures gained following a positive Friday session on the country’s stock markets, where in-line inflation data helped further bets on at least two more interest rate cuts this year. But the S&P 500 snapped a three-week winning streak on losses in technology stocks.

S&P 500 Futures gained 0.1% to 6,704.0 points, while Nasdaq 100 Futures added 0.1% to 24,761.25 points by 23:25 GMT. Dow Jones Futures advanced 0.1% to 46,606.0 points.

Funding for U.S. government operations is set to expire at midnight on September 30, with Congress having still not agreed to a replacement or extension.

A government shutdown this week could delay the release of labour market data scheduled for Friday. An extended shutdown could also delay future data releases and greatly disrupt economic activity.

Stock markets gained on Friday after PCE price index data rose as expected in August.

The print indicated that Trump’s trade tariffs did not boost inflation as sharply as some market participants were fearing, and kept investors largely geared towards more interest rate cuts by the central bank in the coming months.

Markets are pricing in a 90.8% probability for a 25 bps cut in October and a 63.8% probability for another 25 bps cut in December, according to CME FedWatch.

The S&P 500 advanced 0.6% to 6,643.70 points, while the NASDAQ Composite added 0.4% to 22,484.07 points on Friday. The Dow Jones Industrial Average gained 0.7% to 46,247.29 points.

But all three indexes ended lower for the week, having dropped from recent record highs on losses in technology stocks.