US stock futures rose at the start of the new week, in an initial reaction to statements by US President Donald Trump in which he defended his policy of imposing tariffs, as well as news that Congress might pass a bill to fund the reopening of the US government.
US stock indices declined last week amid continued concerns about the high valuations of technology stocks. The Nasdaq recorded its biggest weekly drop since April 4, weighed down by selling in major companies.
The decline in investor sentiment coincided with the ongoing government shutdown and the absence of labor market data. The current interruption of federal funding is the longest in US history, posing a threat to economic activity and causing disruptions in the aviation sector due to a shortage of air traffic controllers working without pay.
The Nasdaq Composite, dominated by artificial intelligence companies, recorded its biggest weekly loss since last April, falling by about 3%. The broader S&P 500 index declined by 1.63%, while the Dow Jones Industrial Average lost about 1.2% during the first week of November, as pressure mounted on shares of major companies such as Nvidia, Microsoft, and MetaTrader.
