US pre-open: Futures lower amid Capitol Hill budget standoff
By Iain Gilbert
Date: Tuesday 30 Sep 2025
(Sharecast News) - Wall Street futures were in the red ahead of the bell on Tuesday, with members of Congress struggling to push through an eleventh-hour government spending bill.
As of 1245 BST, Dow Jones futures were down 0.23%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.19% and 0.18% softer, respectively.
The Dow closed 68.78 points higher on Monday as investors zeroed in on events on Capitol Hill.
Investors continued to weigh heightened political uncertainty prior to the open on Tuesday, with Congress Republicans and Democrats still needing to lock in a government budget agreement before the end of the day. The Labor Department said it will withhold all scheduled data releases, including Friday's nonfarm payrolls report, if a government shutdown can not be averted.
Trump warned over the weekend that mass federal job cuts could follow if lawmakers fail to reach an agreement. While shutdowns have historically had limited impact on financial markets, analysts cautioned that delays to key economic indicators, such as Friday's nonfarm payrolls report, could cloud the Federal Reserve's interest rate outlook and weigh on investor sentiment.
Rostro's Joshua Mahony said: "US markets are grappling with the risk of a government shutdown after last-minute negotiations between Trump and congressional leaders failed to yield a breakthrough. History offers some perspective: Trump oversaw a 34-day shutdown in 2018, which markets ultimately absorbed. Typically, short-term volatility is seen as a buying opportunity by investors, and a similar pattern may emerge again.
"However, the situation has notable implications for data transparency. The Bureau of Labor Statistics has confirmed that in the event of a shutdown, key economic releases (including Friday's non-farm payrolls) will be suspended. For markets, this means trading in the near term without one of the most important indicators of US economic health."
On the macro front, July's S&P/Case-Shiller home price index will be released at 1400 BST, while September's Chicago PMI was slated for release at 1445 BST, and September consumer confidence and August JOLTS job reports will follow at 1500 BST.
In the corporate space, Nike will report earnings after the close.
Reporting by Iain Gilbert at Sharecast.com
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