Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
U.S. stock index futures steadied Wednesday evening as Wall Street closed higher for the fourth consecutive session, with investors betting that the ongoing government shutdown will have limited economic fallout. Despite weak labor market signals and subdued manufacturing data, markets gained on optimism that the Federal Reserve will deliver another interest rate cut at the end of October.
S&P 500 Futures held flat at 6,759.50 points, while Nasdaq 100 Futures stabilized at 25,018.75 points. Dow Jones Futures also remained steady at 46,712.0 points by 19:16 ET (23:16 GMT). The S&P 500 itself ended at a record high of 6,711.20 points, while the Nasdaq Composite climbed 0.4% to 22,755.16 and the Dow Jones Industrial Average edged up 0.1% to 46,411.10.
The U.S. government officially entered a shutdown after lawmakers failed to approve new funding. The closure is set to disrupt critical services, including air traffic control and disaster relief. Key economic data, such as the nonfarm payrolls report due Friday, is also expected to be delayed. The deadlock stemmed from disputes over healthcare subsidies, with Democrats rejecting a Republican-backed bill. President Donald Trump further escalated tensions by threatening to withhold funding from Democrat-leaning states and cut federal jobs permanently.
Markets, however, looked past political uncertainty. Healthcare stocks led gains, supported by expectations of favorable regulation, while technology shares extended their rally on ongoing enthusiasm around artificial intelligence. Netflix lagged, sliding 2.3% after Tesla CEO Elon Musk urged his social media followers to cancel subscriptions.
Historically, government shutdowns have had minimal long-term effects on markets. The last one, in late 2018 and early 2019, lasted 35 days and cost the economy about $11 billion, according to the Congressional Budget Office.
This time, weak ADP payroll data for September and PMI figures confirming continued contraction in manufacturing signaled labor market softness. Yet, these indicators strengthened expectations of further Fed rate cuts, providing key support for equities amid ongoing uncertainty.
