Dow Futures Up Triple Digits as Stocks Resume Climb

Futures on the Dow Jones Industrial Average (DJI), Nasdaq-100 (NDX), and S&P 500 Index (SPX) are all higher premarket. The same tech sector that dampened sentiment yesterday amid AI profit-taking is now poised to vault stocks back toward record-high levels.

As Wall Street wrestles with a government shutdown and the lack of economic data, the Fed minutes released later today should offer some insight for investors. Elsewhere, gold prices remain elevated, with the safe-haven asset holding above $4,000/oz. 

• The S&P 500 hasn't done this in over a year, says Senior Quantitative Rocky White.
• Bank giant in a slump ahead of earnings.
• Plus, silver stock upgraded; Confluent explores sale; and RKLB takes off.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw over 2.3 million call contracts and 1.2 million put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.50, while the 21-day moving average remained at 0.58.
2. First Majestic Silver Corp (NYSE:AG) stock is 4.7% higher before the open, after TD Cowen upgraded the silver miner to "buy" from "hold." AG is 131% higher in 2025, and on Oct. 6 hit a two-year high of $13.55.  
3. Confluent Inc. (NASDAQ:CFLT) stock is 19% higher ahead of the bell, after a Reuters report indicated the data streaming software company was exploring a sale. CFLT is down 26% year to date, and is testing a confluence of overhead moving averages.
4. The shares of Rocket Lab Corp (NASDAQ:RKLB) are 6.8% higher in electronic trading, after the end-to-end space company secured a multi-launch contract with iQPS that includes three Electron missions in 2026. RKLB is up 535% year-over-year and is poised to open at a record high today.
5. Fed minutes sure to offer important dot plot insight next week.

European Stocks Rise as EU Reduces Tariff Quotas

Asian markets were mixed on Wednesday as investors reacted to record gold prices. Also in focus was the World Bank’s hiked 2025 growth forecast of 4.8% for China. Japan’s Nikkei shed 0.5% as the Japanese yen weakened against the U.S. dollar, and Hong Kong’s Hang Seng dropped 0.6% despite CF PharmTech’s stellar market debut. Meanwhile, China’s Shanghai Composite and South Korea’s Kospi remained closed for holidays.

European markets are higher across the pond, after the European Union (EU) revealed plans to lower tariff-free quotas on imported steel and lift duties on excess imports by as much as 50%. Investors are also reacting to SoftBank’s acquisition of ABB’s robotic division for $5.4 billion. France’s CAC is leading today’s charge with a 0.9% gain, while London’s FTSE 100 is 0.8% higher, and the German DAX sports a 0.6% lead.