S&P500 Today: Oxy Climbs on Berkshire Deal, Fair Isaac Pops, Bitcoin, Gold Gain

S&P 500 Futures Edge Higher as Traders Dismiss Shutdown Risks

U.S. equity futures ticked higher Thursday, building on recent gains as traders showed little concern over the ongoing government shutdown. S&P 500 futures were up 0.2%, while Nasdaq 100 futures gained 0.5%. Dow Jones Industrial Average futures slipped 0.1%, weighed by premarket weakness in select blue chips.

The S&P 500 closed at a record high on Wednesday, breaking above the 6,700 level for the first time as optimism grew that the funding lapse would be short-lived. Despite political gridlock, traders are focusing more on earnings, AI momentum, and expectations that the Federal Reserve could begin easing rates later this month.

How Are Major Stocks and Sectors Moving Pre-Market?

Occidental Petroleum rose nearly 1% after Warren Buffett’s Berkshire Hathaway announced a $9.7 billion all-cash deal to acquire the company’s petrochemical division, OxyChem. Berkshire Class B shares dipped 0.2%.

Western Digital jumped 5% on reports of a $1 billion investment plan in Japan.

Fair Isaac spiked 19% after unveiling direct mortgage-lender access to FICO scores, while credit bureaus Equifax and TransUnion each dropped 11%.

Celanese climbed over 2% following a Citi upgrade to Buy, citing balance sheet improvement and earnings support from divestitures. Conversely, Lithium Americas dropped 4% after a Canaccord downgrade flagged valuation concerns post-DOE loan revisions.

What Is the Shutdown’s Impact on Market Sentiment?

Despite the shutdown’s political drama, markets have historically remained resilient during such episodes. Traders largely expect this impasse to be temporary, though the Senate’s break until Friday suggests a short-term pause in resolution efforts. The bigger market concern is the delay of economic data releases—most notably, the nonfarm payrolls report which will be withheld due to the Labor Department’s shutdown.

The ADP print earlier in the week showed a 32,000 drop in private payrolls for September, reinforcing the view that the labor market is softening. This bolsters expectations that the Fed could cut rates as early as its October meeting.

Are Commodities and Crypto Seeing Safe-Haven Flows?

Gold climbed 0.5% to $3,883.69 per ounce, staying near Wednesday’s record high of $3,895.09. A weaker dollar and firm rate-cut bets have driven demand. The SPDR Gold Trust reported a 0.59% jump in holdings—the highest since July 2022—underscoring investor appetite.

Bitcoin surged past $118,000, breaking out of its prior range as crypto market capitalization hit $4.07 trillion. Traders remain bullish on digital assets as expectations grow for Fed easing and stablecoin issuance reaches new highs. Tether added another $1 billion in BTC to its reserves, while Metaplanet’s holdings now total over 30,000 coins.

What Should Traders Watch Next?

Market focus remains on Washington, where a prolonged shutdown could amplify volatility, especially if the NFP delay extends into next week. Eyes are also on Q3 earnings, particularly from large-cap tech, and the Fed’s October 29 meeting where a rate cut is increasingly anticipated. Traders should monitor Treasury yields and dollar strength as rate expectations evolve.

More Information in our Economic Calendar.