Stock Markets Rally Amid Government Shutdown and Rate Cut Hopes
U.S. stock futures rose on hopes of an interest rate cut, despite a government shutdown that delayed key economic data. Record highs were noted, driven by optimism in technology stocks. Investors look towards upcoming PMI data and Federal Reserve Speeches for further signs.
On Friday, U.S. stock index futures witnessed an uptick, buoyed by market anticipations of an interest rate cut, despite the ongoing government shutdown, now in its third day.
The shutdown has delayed crucial economic reports, such as the nonfarm payrolls report, impeding the Federal Reserve's ability to assess economic conditions accurately. Meanwhile, the technology sector's strength has propelled Wall Street indexes to record highs.
Investors are keenly awaiting the Institute for Supply Management's non-manufacturing PMI data and other key figures. Meanwhile, the market remains sensitive to developments, with insights expected from speeches by several Federal Reserve officials.
(With inputs from agencies.)
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