U.S. stock futures are higher in premarket trading and extending last week’s gains.

Investors continue to push aside concerns about the shutdown after lawmakers once again failed to reach a deal on funding to keep the government open.

The shutdown delayed the release of key economic data, including the September jobs report, which was originally due Friday.

With little economic data due today and this week, traders will be focused on Fedspeak, including comments from Fed Chair Powell on Thursday.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 0.9% near $61.40 a barrel after OPEC+’s planned production increase for November was more modest than expected, tempering some concerns about supply additions, though a soft outlook for demand is likely to cap near-term gains. OPEC+ has agreed to raise output of crude by a modest 137,000 barrels day in November. The group announced the same size increase for October.
• Gold (/GC) – Gold prices are up 1.3% near $3960 and touched an all-time high overnight, soaring above the $3,900-per-ounce level, as investors flocked to safe-haven bullion amid the U.S. government shutdown, broader economic uncertainty, and prospects of further Federal Reserve rate cuts.
• Bitcoin (/BTC) – The Crypto Future is up 1.3% to 125,000 in premarket trading and hit all-time highs overnight.
• VIX – The CBOE Volatility Index was up slightly on Friday and settled at 16.73 despite stocks at record levels.
• U.S. Dollar (/DX) – The dollar is up over 0.6% to 98.0. 

Biggest Premarket Movers (Mark % Change as of 7 AM ET)

1. AMD (AMD): +24.53%
2. Micron (MU): +3.51%
3. Arista Networks (ANET): +2.68%

1. Fifth Third (FITB): -4.30%
2. Smurfit Westrock (SW): -4.26%
3. Intl. Paper (IP): -3.71%

Economic Data

• 11:30AM ET: 3-Month Bill Auction, 6-Month Bill Auction

Notable Earnings

• Premarket: None
• Postmarket: STZ
• Premarket Tomorrow: MKC
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Morgan Stanley upgrades Micron (MU) to Overweight from Equal Weight
• Jefferies upgrades Ford (F) to Hold from Underperform
• Rothschild & Co. Redburn upgrades Affirm (AFRM) to Buy from Neutral
• Scotiabank downgrades AT&T (T) to Sector Perform from Outperform
• JPMorgan downgrades Abercrombie & Fitch (ANF) to Neutral from Overweight
• BofA downgrades Shake Shack (SHAK) to Underperform from Neutral

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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.