S&P 500, Nasdaq Brace For Cautious Open After Shutdown Crisis Drama As Traders Eye Powell's Speech, Economic Data (UPDATED)
Portfolio Pulse from Ramakrishnan M
The U.S. stock futures market is off to a cautious start on Monday, with major indices showing mixed performance in the premarket. This comes after Congress narrowly averted a government shutdown over the weekend. Investors are now focusing on economic data and speeches by Federal Reserve officials. The SPDR S&P 500 ETF Trust (ARCA: SPY) and the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) showed slight increases.
October 02, 2023 | 11:42 am
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POSITIVE IMPACT
The Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) was up 0.26% at $359.19.
The averted government shutdown has eased market concerns, which is reflected in the slight increase in QQQ's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (ARCA: SPY) was last up 0.05% at $427.70.
The averted government shutdown has eased market concerns, which is reflected in the slight increase in SPY's price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80