Stock Futures Finding Their Footing to End the Week

Stock futures are slowly showing some life to end the week, as the government shutdown heads into a 10th day. Futures on the Dow Jones Industrial Average (DJI) were last seen indicating a 67-point open, while Nasdaq-100 (NDX), and S&P 500 Index (SPX) futures are pointed modestly higher.

All eyes are on the University of Michigan's consumer sentiment data due out at 10:00 a.m. ET today, the first piece of data for investors to mull over since the shutdown began. Elsewhere, gold prices are testing $4,000, while the 10-year Treasury yield sits at 4.11%. 

• Signal: Netflix stock could hit record highs by November.
• Revisit the deal that shook up the pharma sector.
• Plus, QCOM in China's crosshairs; SharkNinja extends slide; and MOS melts down.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw nearly 3.2 million call contracts and 1.7 million put contracts exchanged on Thursday. The single-session equity put/call ratio rose to 0.54, while the 21-day moving average remained at 0.58.
2. Qualcomm Inc (NASDAQ:QCOM) stock is down 1.2% before the bell, after China initiated an antitrust investigation into the chipmaker. QCOM is only up 7.8% in 2025, and is poised to retreat further below its year-over-year breakeven level today.
3. SharkNinja Inc (NYSE:SN) stock is 1.8% higher ahead of the open, even after J.P. Morgan Securities lowered its price target to $131 from $136. The analyst in coverage did maintain its "overweight" rating on the appliance company. SN is down 8.2% year to date, and is heading for a third-straight weekly loss of 7.5% or more.
4. The shares of Mosaic Co (NYSE:MOS) are down 8.5% in electronic trading, after the chemical company reported lackluster preliminary third-quarter volumes. Scotiabank responded with a downgrade to "sector perform" from "sector outperform," to go with a price-target cut to $34 from $39. MOS is 36% higher in 2025, but is poised to open at its lowest level since early August today.
5. Earnings season kicks off for real next week.

Chip Stocks Bucking the Downtrend

Markets in Asia finished mostly lower today. The South Korean Kospi was the only exception, adding 1.7% as the AI boom sent chipmakers SK Hynix and Samsung Electronics to fresh records. Elsewhere, Japan’s Nikkei shed 1% after the country's ruling coalition collapsed, while Hong Kong’s Hang Seng fell 1.7% and China’s Shanghai Composite lost 0.9%.

European stocks are flat today, as investors eye peace deal progress over in the Middle East. Mining stocks also pared some of today’s gains, as China’s control over rare earths exports impact manufacturing. At last check, London’s FTSE 100 and Germany’s DAX are both up 0.01%, while France’s CAC inches 0.06% higher.