Stock Market Today: Dow Futures Hover; Walmart Results Awaited
as the government shutdown continues. The government shutdown, now in its third week, shows no signs of abating as both sides remain unwilling to budge on their respective demands. The main sticking point is the debt ceiling, which must be raised in order to avoid a default on the national debt.
Stock futures had little change as investors waited for more clarity regarding the debt ceiling negotiations and Walmart's earnings.
Biden expressed his confidence in the future on Wednesday
A default would be avoided
This boosted the market's sentiment. Investors want confirmation that the talks are moving forward toward a solution.
The weekly jobless claims will be released at 8:30 am. At 10 a.m. ET, existing home sales will be released. Walmart and Alibaba both have results to report ahead of the U.S. opening.
The future hovered.
Futures contracts tied to S&P 500, Dow industrials and Nasdaq 100 all gained 0.1%.
Bond yields are on the rise.
The benchmark
Ten-year Treasury Yield
Four days of gains were extended into a fifth. It rose to 3.594% from 3.580% the previous day.
Stocks of regional banks rose in premarket trade.
PacWest increased by 6%, while Western Alliance grew by 2.5%.
The global stock markets rose
The U.S. market's strength propelled the Nikkei index in Japan to a 1.6% gain and Hong Kong's Hang Seng Index to a 0.9% increase.
Strong performance on Wednesday
The Stoxx Europe 600 rose 0.6%.
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