Stock Futures Steady as Bitcoin Nears Nine-Month High and Euro Weakens
Stock futures are showing little movement as the market kicks off the first full week of October. Futures for the Dow Jones Industrial Average and S&P 500 remained near unchanged, while Nasdaq futures slipped 0.2%. The major indexes saw a mixed performance last week, with the Nasdaq posting a gain despite the Dow and S&P 500 losing ground. The weaker-than-expected employment report on Friday eased concerns about potential interest rate hikes by the Federal Reserve, boosting market sentiment.
Earnings season begins this week, with key reports from Delta Air Lines (DAL), Pepsico (PEP), and Levi Strauss (LEVI) on the schedule. Investors will also watch for insights from the Michigan Consumer Sentiment survey and the Federal Reserve's minutes from its last meeting, which could provide clues about future monetary policy.
Cryptocurrency-related stocks are rising, with Bitcoin trading near a nine-month high at around $86,200. The rally in Bitcoin is attributed to hopes for clearer federal regulations and improved risk sentiment. Shares of Coinbase (COIN), Robinhood (HOOD), Mara Holdings (MARA), Circle (CRCL), and Strategy (MSTR) are all higher in early trading.
The euro has hit its weakest level against the dollar since May 2025, amid concerns about political and financial stability in Europe. Spain is facing potential political upheaval, while borrowing costs are rising across the region. Meanwhile, Nvidia (NVDA) shares are inching higher after setting a new all-time high on Friday, driven by strong demand for its AI-related software and hardware.