{"id":55553,"date":"2025-10-02T04:03:20","date_gmt":"2025-10-02T04:03:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/55553\/"},"modified":"2025-10-02T04:03:20","modified_gmt":"2025-10-02T04:03:20","slug":"5-things-to-know-before-the-stock-market-opens-7","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/55553\/","title":{"rendered":"5 Things to Know Before the Stock Market Opens"},"content":{"rendered":"

Stock futures are lower as the U.S. government shut down after Congress failed to pass a funding bill before Tuesday’s deadline; shares of Nike (NKE<\/a>) are higher after the sports apparel maker posted a surprising rise in quarterly sales; Lithium Americas (LAC<\/a>) shares are surging on news the U.S. government will take a 5% share in the mining company; and the White House pulled the nomination of E.J. Antoni to lead the Bureau of Labor Statistics. Here’s what you need to know today.\n<\/p>\n

1. Stock Futures Fall, Gold Rises to New High as Government Shutdown Arrives <\/p>\n

Stock futures are lower<\/a> after three straight days of gains for major indexes as investors assess the potential impact of the federal government shutdown that started just past midnight. Dow Jones Industrial Average<\/a> futures were down 0.3% recently, after the blue chip index closed at a record high yesterday<\/a>. Futures tied to the benchmark S&P 500<\/a> and the tech-heavy Nasdaq<\/a> were down 0.4%. Gold futures were up 1% at $3,910 an ounce as some investors turned to the traditional safe haven. Bitcoin (BTCUSD<\/a>) was at $116,500, up from an overnight low of around $114,000 and trading at its highest level in two weeks. The yield on the 10-year Treasury, which affects borrowing costs on all sorts of loans, fell slightly to 4.14%, while the U.S. dollar index was little changed.\n<\/p>\n

2. Federal Government Shuts Down After Congress Fails to Pass Funding Measures <\/p>\n

The U.S. government shut down at midnight<\/a> after Congress failed to pass a spending bill. Congressional Democrats said that any funding bill should restore healthcare spending that was cut in the Big Beautiful Bill<\/a> tax and spending law, which passed earlier this year. While Republicans have congressional majorities, they need the support of a handful of Senate Democrats to pass procedural hurdles. The first shutdown in six years will result in some government offices closing<\/a> and could delay the release of economic data, including Friday’s eagerly anticipated report on the job market<\/a> from the Bureau of Labor Statistics. Economists anticipate the shutdown will cause a moderate hit to economic growth<\/a>, though the impact will become more significant the longer the shutdown goes on.\n<\/p>\n

3. Nike Shares Rise as Results Top Expectations <\/p>\n

Shares of Nike (NKE<\/a>) are on the rise this morning after the sports apparel maker reported earnings and sales that were better than analysts expected. Nike\u2019s fiscal first-quarter revenue rose 1% from a year ago to $11.7 billion, while analysts tracked by Visible Alpha had projected a 5% decline. The company\u2019s adjusted earnings per share came in at $0.49, compared with the $0.26 analysts had expected. Nike is working to execute a turnaround<\/a> under CEO Elliott Hill, who pointed out improvements in its North American, wholesale and running business. \u201cWe still have work ahead to get all sports, geographies, and channels on a similar path as we manage a dynamic operating environment,\u201d Hill said in a release. Nike shares, which through yesterday’s close were down about 8% so far in 2025, were up more than 4% in recent premarket trading.\n<\/p>\n

4. Lithium Americas Shares Surge as U.S. Takes Stake in Company <\/p>\n

Shares of Lithium Americas (LAC<\/a>) surged in premarket trading after U.S. Energy Secretary Chris Wright said the U.S. government would take a 5% stake in the Canada-based company. In an interview with Bloomberg, Wright said that the move was necessary to help counter China\u2019s control of the lithium market. Wright said that the government would also take a 5% stake in the Thacker Pass lithium project in Nevada, which Lithium Americas is partnering with General Motors<\/a> (GM<\/a>) to build. Lithium is a key material used to make electric vehicle batteries. Lithium Americas shares were up nearly 40% ahead of the opening bell.\n<\/p>\n

5. White House Pulls Antoni Nomination to Lead BLS <\/p>\n

The White House withdrew the nomination of E.J. Antoni to lead the Bureau of Labor Statistics. President Donald Trump nominated Antoni<\/a> for the position after he fired the former head of the agency<\/a> in the wake of significant revisions to the July jobs report. The BLS produces several key economic reports, including monthly labor market and inflation data. The BLS\u2019s release of the September jobs report<\/a>, scheduled for Friday, could be delayed due to the government shutdown.<\/p>\n","protected":false},"excerpt":{"rendered":"Stock futures are lower as the U.S. government shut down after Congress failed to pass a funding bill…\n","protected":false},"author":2,"featured_media":55554,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[138,220,111,139,69],"class_list":["post-55553","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-markets","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/55553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=55553"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/55553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/55554"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=55553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=55553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=55553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}