Benzinga - by Ramakrishnan M, Benzinga Editor.
The U.S. stock futures market is off to a cautious start on Monday, with major indices showing mixed performance in the premarket. As Congress narrowly averted a government shutdown, investors will now shift their focus to a flurry of economic data and a series of speeches by Federal Reserve officials.
Over the weekend, Congress passed a stopgap bill just before the midnight deadline on Saturday, ensuring federal agencies continue to be funded. The resolution eased concerns over a government shutdown that could have had broader market implications.
On the economic front, fresh data on manufacturing activity and construction spending is set to be released today, providing insight into the health of the U.S. economy.
Federal Reserve Chair Jerome Powell is scheduled to speak at 11:00 ET during a roundtable discussion with small business owners. Philadelphia Fed President Patrick Hasker and Cleveland Fed President Loretta Mester are also slated to make remarks throughout the day.
Monday Futures (as of 7:15 ET)
| Futures | Last | Chg. % |
| Dow Jones | 33,717.00 | -0.02% |
| S&P 500 | 4,326.00 | 0.01% |
| Nasdaq 100 | 14,891.50 | 0.00% |
| Russell 2000 | 1,798.90 | 0.00% |
Economic Calendar Today
| Time | Data | Previous | Consensus | Forecast |
| 7:15 PM | S&P Global Manufacturing PMI Final SEP | 47.9 | 48.9 | 48.9 |
| 7:30 PM | ISM Manufacturing PMI SEP | 47.6 | 47.7 | 48.1 |
| 7:30 PM | ISM Manufacturing Employment SEP | 48.5 | 48.3 | 49 |
| 7:30 PM | Construction Spending MoM AUG | 0.70% | 0.50% | 0.50% |
| 7:30 PM | ISM Manufacturing New Orders SEP | 46.8 | 47 | |
| 7:30 PM | ISM Manufacturing Prices SEP | 48.4 | 48.6 | 48.9 |
The SPDR S&P 500 ETF Trust (ARCA: SPY) was last up 0.05% at $427.70, while the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) was up 0.26% at $359.19, according to data from Benzinga Pro.
(This copy will be updated with analyst comments and other details)
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.