U.S. stock futures are lower ahead of the Wall Street open as investors assessed the ramifications of the U.S. government shutdown.

The U.S. government shut down at midnight after two attempts made by the Republican-controlled Senate failed to secure a temporary spending bill on Tuesday.

The market is likely to focus on the length of the shutdown since a prolonged closure could delay key economic data ahead of the Federal Reserve’s meeting in late October.

The Labor Department said Friday it will shut down virtually all activity, meaning the September nonfarm payrolls report would not be released at the end of the week.

Besides government shutdown impacts, investor focus will be on ADP private payrolls report along with manufacturing data.

Snapshot (as of 6:45 AM ET)

• Oil (/CL) – Oil prices are down 0.3% near $62.00 a barrel after sliding for two days as investors weighed OPEC+ plans for a larger output hike next month while data from the U.S. and Asia showed signs of demand waning.
• Gold (/GC) – Gold prices are up a little under 1% near $3910 and soared to new highs, as the U.S. government entered its first shutdown in almost seven years after lawmakers failed to reach a deal on government funding.
• Bitcoin (/BTC) – The Crypto Future is up 2% near 117,400 in premarket trading.
• VIX – The CBOE Volatility Index was up 1% on Tuesday and settled at 16.28 as stocks were modestly higher.
• U.S. Dollar (/DX) – The dollar is basically flat at 97.4.

Biggest Premarket Movers (Mark % Change as of 6:45 AM ET)

1. AES Corp. (AES): +12.69%
2. Nike (NKE): +4.59%
3. Coinbase (COIN): +2.25%

1. GE Vernova (GEV): -1.45%
2. Micron (MU): -1.39%
3. Netflix (NFLX): -1.19%

Economic Data

• 7:00AM ET: MBA Mortgage Applications
• 8:15AM ET: ADP Employment Report
• 9:45AM ET: PMI Manufacturing
• 10:00AM ET: ISM Manufacturing
• 10:30AM ET: Oil Inventories
• 12:15PM ET: Fed’s Barkin Speaks

Notable Earnings

• Premarket: AYI, CAG
• Postmarket: None
• Premarket Tomorrow: None
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Jefferies upgrades Carvana (CVNA) to Buy from Hold
• Jefferies upgrades Delta Air Lines (DAL) to Buy from Hold
• HSBC upgrades Autodesk (ADSK) to Buy from Hold
• TD Cowen downgrades Marvell (MRVL) to Hold from Buy
• Barclays downgrades AT&T (T) to Equal Weight from Overweight
• RBC Capital downgrades GE Vernova (GEV) to Sector Perform from Outperform

Charles Schwab Media Productions Company and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.

Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.