Opening Comment — Monday, October 06, 2025
DJIA: 46,758.28, up 238.56
S&P 500: 6,715.79, up 0.44
NASDAQ: 22,780.51, down 63.54
Stocks higher to start off week
Stock futures are higher Monday morning as the government shutdown stretches into another week and continues to impact government data releases. Non-impacted releases out later this week include the Federal Reserve’s (Fed’s) minutes from their September 16–17 meeting and the preliminary reading on October consumer sentiment from the University of Michigan, scheduled for Wednesday and Friday, respectively. As of 7:19 AM ET, the Dow is rising 0.2%, while the S&P 500 is up 0.3%. The Nasdaq 100 is increasing 0.6% relative to fair value on the GLOBEX.
U.S. equities were mixed on Friday as the Institute for Supply Management’s services purchasing managers’ index (PMI) for September declined more than anticipated to a level indicating stagnation, while the prices paid component unexpectedly rose. Meanwhile, S&P Global’s finalized services and composite PMIs for September were both revised slightly upward to levels still consistent with moderate expansion. The Dow was up 0.5% and reached a new record closing level of 46758.28, while the tech-heavy Nasdaq Composite fell 0.3%. The S&P 500 was little changed and set a new record closing level of 6715.79, with seven of 11 sectors finishing in positive territory. The Utilities sector was the top performer, rising 1.2%, while the Consumer Discretionary sector was the bottom performer, falling 0.8%.
Across the pond, European stocks are mixed in mid-day trading as the U.K.’s construction PMI for September recorded a stronger-than-expected increase and Germany’s construction PMI rose, though both remain in contractionary territory. The Sentix Investor Confidence Index for the eurozone improved more than expected, while the trade bloc’s retail sales for August increased 0.1% month-over-month (MOM).
Overnight in Asia, stocks were mixed as Australia’s Melbourne Institute inflation gauge recorded an increase of 0.4% MOM and 3.0% year-over-year in September.
In FOREX trading, the dollar is higher amid the ongoing U.S. federal government closure.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 1.6% higher at $61.86/barrel following the Organization of the Petroleum Exporting Countries and its allies signaling a smaller production hike than forecast.
In the metals complex, gold is 1.5% higher at $3,942.83/ounce despite a strengthening dollar.
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