Dow Futures Edge Lower As Investors Exercise Caution Amid Government Shutdown: OXY, BRK, FRMI, TSLA Among Stocks To Watch

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While Dow Jones futures were down by 0.08% at the time of writing, the S&P 500 futures gained 0.28%.

U.S. stocks appear set for a cautious opening on Thursday, as investors remain watchful with the United States government shutdown entering its second day. This is the first U.S. government shutdown in almost seven years.

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U.S. Treasury Secretary Scott Bessent said in an interview on Thursday that the government shutdown could hit the country’s gross domestic product (GDP). “This isn’t the way to have a discussion, shutting down the government and lowering the GDP. We could see a hit to the GDP, a hit to growth, and a hit to working America,” Bessent said.

While Dow Jones futures were down by 0.08% at the time of writing, the S&P 500 futures gained 0.28%, while the tech-heavy Nasdaq 100’s futures rose 0.57%. Futures of the Russell 2000 index were up by 0.5%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.29% at the time of writing, while Invesco QQQ Trust (QQQ) rose 0.6% on Thursday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Asian markets ended Thursday’s trading session on a positive note, with the KOSPI leading with gains of 2.63%, followed by the Hang Seng at 1.58%, the TWSE Capitalization Weighted Stock index at 1.5%, and the Nikkei 225 at 0.86%.

The Shanghai Composite was closed for trading on account of China’s National Day.

Stocks To Watch

  • Occidental Petroleum Corp. (OXY), Berkshire Hathaway Inc. (BRK.B) (BRK.A): Warren Buffett’s Berkshire Hathaway announced that it has reached a deal to acquire OxyChem from Occidental Petroleum for $9.7 billion. Occidental shares were up over 1%, while Berkshire’s shares were down 0.32% in Thursday’s pre-market trade.
  • Fermi Inc. (FRMI): Fermi’s shares were up more than 11% in Thursday’s pre-market trade, continuing to rise after a strong debut on Wednesday.
  • Tesla Inc. (TSLA): Tesla reported deliveries of 497,099 vehicles in the third quarter (Q3) and production of 447,450 vehicles, setting a new record in both categories. It also deployed an all-time high of 12.5 Gigawatt Hour (GWh) of energy during the quarter. Shares of the EV giant were up nearly 2% pre-market.
  • Castor Maritime Inc. (CTRM) and AMTD Digital Inc. (HKD) are among the companies scheduled to announce their latest quarterly results on Thursday.

 

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