Dow Futures Decline As Government Shutdown Looms: WOLF, BA, FLY, GOOGL Among Stocks To Watch

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While Dow Jones futures were down by 0.28% at the time of writing, the S&P 500 futures fell 0.23%.

U.S. stocks appear poised for a negative opening on Tuesday as the deadline for the government shutdown approaches, amid concerns about labor market weakness and stagflation. Vice President JD Vance on Monday evening said that he thinks a shutdown is likely following President Donald Trump’s meeting with top Democrat and Republican leaders.

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“I think we’re headed to a shutdown because the Democrats won’t do the right thing,” Vice President Vance told reporters after the meeting, according to CNBC. If a deal is not reached, the government will enter a shutdown at 12:01 a.m. ET on Wednesday.

While Dow Jones futures were down by 0.28% at the time of writing, the S&P 500 futures fell 0.23%, while the tech-heavy Nasdaq 100’s futures declined 0.24%. Futures of the Russell 2000 index were down 0.39%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was down 0.17% at the time of writing, while Invesco QQQ Trust (QQQ) fell 0.11% on Tuesday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.

Asian markets ended Tuesday’s trading session on a mixed note, with the TWSE Capitalization Weighted Stock index gaining the most at 0.93%, followed by the Hang Seng index at 0.92%, and the Shanghai Composite at 0.52%.

The KOSPI declined 0.19%, while the Nikkei 225 fell 0.14%.

Stocks To Watch

  • Wolfspeed Inc. (WOLF): Wolfspeed’s shares soared nearly 25% pre-market after the company announced that it has exited Chapter 11 bankruptcy, reducing total debt by 70% and trimming interest costs by 60%. It also stated that it has sufficient liquidity to continue supplying customers with silicon carbide-based chips.
  • Boeing Co. (BA): Boeing is planning a new single-aisle airplane to succeed the 737 Max, according to a report by The Wall Street Journal. Boeing shares edged up by 0.03% in Tuesday’s pre-market session.
  • Firefly Aerospace Inc. (FLY): Firefly’s shares declined over 10% in Tuesday’s pre-market trade after the company’s Alpha Flight 7 rocket exploded in a pre-flight test. “Proper safety protocols were followed, and all personnel are safe. The company is assessing the impact to its stage test stand, and no other facilities were impacted,” Firefly stated in an update.
  • Alphabet Inc. (GOOG) (GOOGL): Google-owned YouTube agreed to pay $24.5 million in a lawsuit brought by President Trump against the company and its CEO. Google-parent Alphabet’s shares were down 0.13% pre-market.
  • Nike Inc. (NKE) and Wimi Hologram Cloud Inc. (WIMI) are among the companies scheduled to announce their latest quarterly results on Tuesday.

 

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