Nasdaq and S&P 500 Futures Pull Back From Record Highs

Oct 7 - U.S. stock index futures dipped early Tuesday as Wall Street took a breather following record highs for both the Nasdaq and S&P 500. The pullback came while the ongoing government shutdown continued to dominate political headlines, though investors appeared largely calm about its market impact.

Dow futures slipped about 0.23% to 46,586, while S&P 500 futures inched down 0.07%. Nasdaq 100 futures also eased slightly, signaling a slower start to trading after last week's rally.

Traders say the market's modest retreat reflects profit-taking rather than renewed fear. Despite the shutdown, economic data delays have had limited effect on sentiment, and corporate earnings expectations remain solid.

In the meantime, Advanced Micro Devices AMD 's recent high performance continued to increase, surged over 23% during the last day. This move was followed by the chipmaker's announcement that they had a big contract with OpenAI to supply tens of billions of dollars of chips, which created a burst of hope that AMD could continue to wage a crusade against its competition in the AI sector.

All in all, the markets are stable, and the investors currently observe Treasury yields and Washington events as they continue to wait on whether the upswing will continue or will be more consolidated.