U.S. stock futures edged higher on Monday as investors prepared for a trading week dominated by crucial economic data and political uncertainty over a possible government shutdown. Markets are also watching September’s nonfarm payrolls report, Carnival’s latest earnings, and a record surge in gold prices.
Futures point higher
U.S. futures were moving up in early trade. By 02:56 ET (06:52 GMT), Dow futures rose 161 points, or 0.4%. S&P 500 futures gained 27 points, or 0.4%, and Nasdaq 100 futures advanced 124 points, or 0.5%.
On Friday, Wall Street closed higher after inflation data came in line with expectations. However, all three major indexes ended the week in the red. The S&P 500 and Nasdaq snapped three-week winning streaks, weighed down by technology losses.
Jobs report in focus
Markets are looking ahead to September’s nonfarm payrolls report, due Friday. The data will provide fresh insight into the U.S. labor market.
The Federal Reserve recently cut rates by 25 basis points, prioritizing signs of a cooling jobs market over sticky inflation. Fed projections show that more rate cuts could follow before year-end.
Economists expect 51,000 new jobs in September compared to 22,000 in August. The unemployment rate is forecast to stay at 4.3%. Analysts caution that a stronger-than-expected report could slow the pace of future cuts, while weak numbers would strengthen the case for more easing.
Government shutdown risks
Concerns remain that a possible government shutdown could delay the release of payroll data. Funding for federal operations expires at midnight on September 30. If no deal is reached, it would mark the 15th partial shutdown since 1981.
Republicans control both chambers of Congress, but Democratic support is needed to pass a funding bill. Democrats have rejected short-term proposals that keep recent health care cuts in place. Leaders from both parties are set to meet President Donald Trump on Monday to negotiate. Trump told Reuters he believes Democrats may want to reach an agreement.
Carnival earnings in spotlight
Carnival Corp will report earnings on Monday. Cruise demand has surged this year, helping the company achieve its strongest margins in nearly two decades. In June, the operator raised its profit outlook, citing resilient demand and favorable exchange rates.
Analysts expect third-quarter earnings of $1.32 per share. Carnival shares have gained more than 22% so far in 2025.
Gold hits record highs
Gold prices soared to a record high above $3,800 per ounce as investors sought safety amid U.S. shutdown risks and bets on more Fed rate cuts.
By 03:34 ET, spot gold was up 1.4% at $3,810.85/oz, while December futures climbed 0.8% to $3,839.10/oz. Silver and other metals also logged gains, supported by a weaker dollar and expectations for further Fed easing.
