OP Wire 9/30 (OP – Lite)

By Steve

Markets eye shutdown, but bulls still pressing higher

U.S. stock futures pointed red early Tuesday as traders weighed the risk of a federal government shutdown. By 03:33 ET, Dow futures were down -79 points (-0.2%), S&P 500 slipped -10 points (-0.1%), and Nasdaq 100 eased -37 points (-0.1%).

Yesterday, Wall Street still managed green closes, boosted by modest buying in Treasuries. Yields dipped 1–3 bps across the curve, helping equities stay firm. Confidence around continued Fed rate cuts and AI-driven momentum offset shutdown jitters.

Names in play

$LRCX (Lam Research) spiked on a Deutsche Bank upgrade.
$APP (AppLovin) ripped to new all-time highs after Morgan Stanley raised its outlook.

Shutdown clock ticking

Congress is up against the wall. A Republican-backed spending bill cleared the House but faces a 60-vote hurdle in the Senate. Negotiations with President Trump turned ugly Monday, with both sides blaming each other. VP JD Vance said bluntly he thinks the government is “headed to a shutdown.”

A shutdown could stall Friday’s key nonfarm payrolls report, though today’s JOLTs Job Openings print at 10AM ET still gives markets labor data to trade off.

Gold on fire

Spot gold hit fresh record highs, powering up +0.5% to $3,851/oz, while futures reached $3,880. The yellow metal is up ~17% Q3 alone. Shutdown fears + rate-cut bets = perfect storm for metals. Silver and platinum cooled slightly after Monday’s monster run.

Tariffs back in play

Trump unveiled fresh tariffs effective Oct. 14:

10% on softwood lumber/timber
25% on kitchen cabinets/vanities
25% on upholstered wood products

This move injects fresh trade-war vibes into the market, aiming to protect U.S. production.

Earnings spotlight: $NKE

Nike reports after the bell today. New CEO Elliott Hill has been reshaping the brand after years of sagging sales. Street is looking for signs that new product pushes in sneakers/running shoes and inventory cleanup are gaining traction.

Tech levels to watch

The $QQQ bulls couldn’t close above the 600 ceiling yesterday, topping at 598.73 (+0.46%). Still a green finish, but bears are fighting hard to defend 600. Our OP levels remain:

Bullish medium-term bias as long as $QQQ holds above 580.
A confirmed breakout above 600 could fuel the next leg.

Bitcoin is grinding higher near ~$114.2K, gold blasting toward $3,900, silver near $47.3.

Key data today
🇺🇸 S&P/CS HPI Composite (Jul) – 9AM ET
🇺🇸 Chicago PMI (Sep) – 9:45AM ET
🇺🇸 JOLTs Job Openings (Aug) – 10AM ET
🇺🇸 CB Consumer Confidence (Sep) – 10AM ET
🇺🇸 API Crude Oil Stock – 4:30PM ET

OptionsPlayers Wins
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See you in chat, and as always – Stack Your Gains™.

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OP Wire 9/30 (OP – Lite)

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