US Stock Futures Rise Amid AI Optimism
US stock futures experienced a slight increase on Friday following new record highs, as Wall Street focuses on the potential of artificial intelligence (AI) despite an ongoing government shutdown.
Futures for the Dow Jones Industrial Average, S&P 500, and the Nasdaq 100 each gained around 0.1%.
The upward trend in US stocks was fueled by promising new AI partnerships. For instance, Hitachi partnered with OpenAI on various energy initiatives, while Fujitsu expanded its collaboration with Nvidia, enhancing optimism about the tech sector.
Typically, Wall Street would pay close attention to the release of the September jobs report scheduled for Friday. However, the government shutdown is expected to delay this announcement, leaving investors without critical information, even as some lawmakers, including Sen. Elizabeth Warren, urge the administration to release it.
This jobs report is particularly crucial, as Federal Reserve officials have emphasized job market weaknesses as a key consideration for future interest rate decisions. Without this data, analysts and investors have turned to a range of private indicators this week, which already show signs of a sharp slowdown in the labor market.
As the government shutdown entered a second day on Thursday, stocks continued to rise. Investor optimism around AI was bolstered by the news that OpenAI’s valuation had reached $500 billion, making it the most valuable startup globally. Major indices such as the Nasdaq, S&P 500, and Dow hit new record highs.
On the legislative front, attempts to resolve the government shutdown remain stalled, as Democrats advocate for continuing healthcare subsidies, while Republicans refuse to negotiate until the government reopens. Meanwhile, President Trump has heightened threats to terminate federal workers and withdraw funding for projects in states that lean Democratic.
