S&P500: Dell, AMD, and Trilogy Metals Lead US Stock Moves as Fed Minutes Loom This Week

Futures Tick Higher as Shutdown Drags On and Fed Takes Center Stage

Stock futures edged higher Tuesday as traders parsed mixed signals from Washington and braced for Fed commentary—their only real data point while the government shutdown drags into day seven.

Dow futures rose 18 points, S&P 500 futures climbed 3.50, and Nasdaq 100 led with a 37-point gain—cautious green, but green nonetheless.

Can Washington Break the Deadlock?

Monday’s hopes fizzled after the Senate’s fifth failed vote on short-term funding. Without eight Democrats crossing over, this stalemate isn’t budging. Trump blamed Democrats on Truth Social, saying he’s open to working together—just not until the government reopens. Schumer fired back, calling the comments false and urging Republicans to come to the table.

The shutdown is already biting. The September jobs report—due last Friday—never dropped, leaving a critical macro signal missing. If this stretches into next week, CPI and other key prints could get delayed too. The longer the blackout, the tougher it is for both the Fed and the market to get a clear read on the economy.

Will the Fed Minutes Move the Needle?

With no jobs data, traders are dissecting every Fed word for clues. Vice Chair Bowman, Governor Miran, and Minneapolis Fed’s Kashkari are all on deck this week, and their commentary will carry more weight than usual. On Wednesday, we’ll get FOMC minutes from the last meeting—expect traders to pounce on any signs of dovish tilt or debate around the neutral rate.

The Fed’s caught between sticky inflation and cooling growth. Without hard data, policy calls get harder—and markets get twitchier.

Which Stocks Are On the Move?

Trilogy Metals is today’s standout—up 250% premarket after the White House committed $35.6 million for a 10% stake in the Canadian miner. It’s part of a broader push to shore up U.S. access to critical minerals in Alaska’s Ambler district.

Dell climbed 5% after boosting long-term revenue targets, now seeing 7–9% growth in fiscal 2026, up from 3–4%.

AMD rose 4% on a Jefferies upgrade. Aehr Test Systems plunged 20% after soft revenue and no guidance. Dollar Tree fell 4% on a downgrade. IBM, Constellation Brands, and Intercontinental Exchange all rallied 3–4% on strong results and strategy updates.

What’s the Trade Setup From Here?

If the shutdown lingers, expect data blackouts, headline whipsaws, and Fed speak to drive the tape. Wednesday’s FOMC minutes could be the week’s biggest catalyst. With politics muddying the fundamentals, staying nimble beats chasing momentum.

More Information in our Economic Calendar.