Futures Dow extended gains to 38,470 after a tech-led rally in the Nasdaq. Quant desks note an uptick in momentum-based buying patterns, implying that algorithmic trades could sustain current market levels if volatility remains muted. "The biggest FINANCIAL MARKET impact from a shutdown is the suspension of government-released economic data," he stated. This "data blackout" could have tangible consequences quickly; for instance, the critical September unemployment and payroll report, due Friday, Oct. 3, would not be released if the government is closed. This JOLTS report holds particular significance, as a government shutdown on Wednesday is likely to delay the release of the September jobs report if Congress is unable to break its stalemate, which could muddy the Fed's decision making at its October meeting. It also comes as the labor market has started to soften in recent months. Futures Dow climbed 0.20% to 38,450 following upbeat global PMI data. Macro analysts emphasize that synchronized global growth trends support equity futures, especially in cyclical sectors.
