New York, Feb 3, 2026, 05:53 EST — Premarket
- Dow futures dipped slightly, while S&P 500 and Nasdaq 100 futures nudged higher ahead of the cash open
- The Dow surged 515 points Monday, boosted by gains in chip-related stocks and small caps
- Investors are focused on a House vote aimed at ending the partial U.S. government shutdown and its ripple effects on major economic data.
U.S. stock index futures showed a mixed picture before Tuesday’s open: Dow futures slipped 9 points, while S&P 500 futures climbed 14.75 points and Nasdaq 100 futures added 121 points in early action. These contracts trade outside regular hours and often hint at Wall Street’s opening moves.
The subdued action reflects a market clinging to Monday’s bounce, unsure what lies ahead. A partial U.S. government shutdown has thrown the economic calendar into question just as earnings season enters a crucial stretch.
On Monday, the Dow Jones Industrial Average surged 515.19 points, or 1.05%, closing at 49,407.66. The S&P 500 and Nasdaq also finished higher. Gains in chipmakers and other AI-related stocks boosted sentiment, though energy sector losses and a steep drop in Disney kept the market uneven. The VIX volatility index, known as Wall Street’s fear gauge, dropped to its lowest level since mid-December. “If the economy is resilient, I think the market can manage through it,” said Tim Ghriskey of Ingalls & Snyder. Reuters
In Washington, the U.S. House of Representatives is set to vote Tuesday on a stopgap funding bill designed to end the shutdown and maintain funding for agencies through Sept. 30, following a deal leaders proposed late Monday. However, some lawmakers remain opposed, signaling that even a “short” shutdown could continue. Reuters
The shutdown is already affecting markets by delaying crucial data. The Bureau of Labor Statistics announced it won’t release the January employment report on Friday as planned, citing the ongoing funding lapse. Emily Liddel, an associate commissioner, said the report will only be published once the shutdown ends. Former BLS commissioner Erica Groshen warned that postponing key releases can make investors “more reactive,” dealing with fewer official signals on growth and hiring. Reuters
Abroad, global stocks bounced back and gold surged, providing some support to risk appetite following a tough run in commodities. Investors also took note of a U.S.-India trade deal as markets sought to recover from recent swings.
Corporate earnings are picking up the slack as economic data slows. Palantir posted Q4 revenue of $1.407 billion and set its full-year 2026 revenue forecast between $7.182 billion and $7.198 billion. CEO Alex C. Karp highlighted the company’s push to boost “operational leverage” through fast progress in AI models. Business Wire
Within the Dow, Monday favored old-economy stocks over mega-cap tech, with Caterpillar and Walmart posting some of the largest gains, a market recap showed. Disney, however, weighed on the index following its earnings, highlighting how quickly sentiment can shift even when the broader market is up.
The week remains busy despite the absence of Friday’s payrolls report. Earnings are rolling in from tech, pharma, and consumer sectors. Advanced Micro Devices reports after Tuesday’s close, while Alphabet and Amazon are set to release their numbers later in the week.
All eyes are on the Institute for Supply Management’s services PMI set for release on Feb. 4. This survey-based indicator generally points to expansion when above 50, contraction when below.
There’s a catch: if the shutdown stretches out, more earnings reports could be delayed, pushing markets to rely heavily on fragile signals — company guidance, political headlines, and movements in rates and commodities. Just a few big earnings misses could quickly sour sentiment, especially with indexes sitting close to record highs.
