
U.S. stock futures were flat Tuesday night after the S&P 500 ended a seven-day winning streak, dragged down by a drop in Oracle shares. The U.S. The government shutdown also entered its second week, adding to investor caution, but still doesn’t seem to be pressuring the stock market.
Dow futures rose just 7 points (0.02%), while S&P 500 and Nasdaq 100 futures gained 0.04% and 0.07%, respectively. In the previous session, the Dow fell 0.2%, the S&P 500 lost 0.4%, and the Nasdaq slipped 0.7%.
The weakness followed a report that Oracle’s cloud margins are thinner than expected and that the company is losing money renting out Nvidia chips, leading to a 2.5% drop in its stock. The news reignited fears of an AI bubble, with analysts warning of overextended valuations similar to the dot-com era, though some believe the rally could still continue in the short term.
Traders also remained cautious as the shutdown dragged on, potentially affecting market sentiment, while awaiting Federal Reserve meeting minutes due Wednesday for clues about future monetary policy.
Spot gold surged to a record $4,000 on Wednesday as investors sought safety amid the U.S. government shutdown and the resignation of France’s prime minister, Sebastien Lecornu. The rise follows months of tariff-driven economic uncertainty.
In Asia, markets were mostly muted despite the World Bank raising its regional growth forecast. The Hang Seng dropped 1.01%, while Japan’s Nikkei was flat and the Topix gained 0.66%. Australia’s ASX 200 slipped 0.3%, and China and South Korea remained closed for holidays.
The Reserve Bank of New Zealand cut rates by 50 basis points to 2.5%, citing weak mid-2025 economic activity and global uncertainty. The New Zealand dollar fell 0.9%.
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