📈 Markets Melt Up Again
U.S. stock futures are pushing higher into Friday, following yet another session of record-breaking highs on Wall Street—even as the government shutdown drags into a third day and payrolls data remain stalled.
💻 Tech Leads the Charge
AI enthusiasm continues to drive strength in chipmakers and the broader tech space. The $QQQ notched a fresh all-time high at 607.16 before settling at 605.73 (+0.41%). The melt-up shows no sign of slowing, but keep a close eye on the 600 level—a break there could open the door to a pullback into the 590–580 zone next week.
💡 Data on Deck
With the shutdown limiting fresh reports, traders are watching closely for the ISM services PMI to gauge U.S. economic momentum. Payrolls are on hold, leaving this data as one of the few directional cues for today.
Key releases include:
🇺🇸 FOMC Member Williams Speaks @ 6:05AM ET
🇺🇸 S&P Services PMI (Sep) @ 9:45AM ET
🇺🇸 S&P Global Composite PMI (Sep) @ 9:45AM ET
🇺🇸 ISM Non-Mfg. PMI (Sep) @ 10AM ET
🇺🇸 ISM Non-Mfg. Employment (Sep) @ 10AM ET
🇺🇸 ISM Non-Mfg. Prices (Sep) @ 10AM ET
🇺🇸 Factory Orders (Aug) @ 11AM ET
🇺🇸 US Baker Hughes Rig Counts @ 1PM ET
🛠 Stock Spotlight: Applied Materials (AMAT)
The chip-gear giant warned that new U.S. export restrictions could slice $110M off Q4 revenue and hit $600M in 2026. Shares slipped 2.7% after hours on the news.
🥇 Gold Holds Its Shine
Gold is on track for a 7th straight weekly gain, hovering near $3,880/oz, fueled by Fed cut expectations and shutdown concerns. Silver trades at $46.50/oz.
🛢 Oil Under Pressure
Crude is stabilizing this morning but remains set for its steepest weekly drop since June amid talk that OPEC+ could ramp up output again in November. Brent trades at $64.78 and WTI at $61.16.
💰 Crypto Watch
Bitcoin is trading near $120K/coin, adding another speculative tailwind to risk assets.
🔥 OP Takeaway
Another day, another all-time high. But without clear directional drivers, this melt-up is running on fumes—watch that 600 QQQ level closely heading into the weekend.
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