The Senate rejected a funding bill for the ninth time
Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) futures are higher this morning, while the Nasdaq-100 Index (NDX) is indicating a triple-digit pop. Though concerns around U.S.-China trade remain, strong bank earnings and upbeat revenue forecasts from tech giants are soothing sentiment. Meanwhile, the Senate yesterday rejected a funding bill for the ninth time, extending the government shutdown and the delay of important economic data releases.
- Take a peek at what's coming next week.
- Renewable energy stock enjoyed a bull note.
- Plus, United Airlines' revenue miss; Charles Schwab's record revenue; and a surging chip stock to watch.
5 Things You Need to Know Today
- The Cboe Options Exchange saw more than 3 million call contracts and roughly 1.4 million put contracts exchanged on Wednesday. The single-session equity put/call ratio slipped to 0.48, while the 21-day moving average remained at 0.58.
- United Airlines Holdings Inc (NASDAQ:UAL) shares are slightly below breakeven before the open, brushing off a third-quarter profit beat and a strong forecast due to a revenue miss. Longer term, the equity now sports a 62.5% year-over-year lead.
- Charles Schwab Corporation (NYSE: SCHW) stock is up 4.3% ahead of the bell, after the bank announced record revenue of $6.1 billion and better-than-expected profits for the third quarter. Over the last 12 months, SCHW added 31.1%.
- The shares of Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) are up 2.2% higher in electronic trading, after the company beat profit expectations for the third quarter and reported a 30% year-over-year revenue jump due to AI chip demand. TSM is 54.3% higher in 2025.
- Dow earnings and inflation data are due out next week.
Asian Markets Mostly Higher After Multi-Sector Rally
Markets in Asia finished mostly higher, with South Korea’s Kospi leading gains with its 2.5% pop. The index tapped a record high after the International Monetary Foundation (IMF) hiked the region’s 2025 growth forecast by 0.1% to 0.9%, triggering auto, equipment, and tech sectors to surge. Hong Kong’s Hang Seng was the only loser, inching 0.09% lower. Meanwhile, China’s Shanghai Composite and Japan’s Nikkei added 0.1% and 1.3%, respectively.
Volatility continued in Europe, with stocks mixed at last glance. France’s political upheaval gave a boost to the CAC 40, the index last seen up 0.9%, after the government completed its first no confidence vote under its new Prime Minister earlier today. In the U.K., the Office for National Statistics showed a meek 0.1% economic expansion in August. London’s FTSE 100 is 0.2% lower, while the German DAX sits flat at 0.04%.