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Will the stock market get ‘Octoberphobia’ this year?

Traders work on the floor at the New York Stock Exchange in New York City, U.S., Sept. 17, 2025.

Brendan McDermid | Reuters

Stock futures were little changed Sunday night as a U.S. government shutdown continued following a week in which Wall Street rallied to record highs.

Dow Jones Industrial Average futures ticked 37 points higher, or 0.1%. S&P 500 futures gained 0.1% along with Nasdaq-100 futures.

The S&P 500 and Nasdaq Composite are coming off their fourth weekly advance in five weeks, rising 1.1% and 1.3%, respectively. The Dow rose for the third time in four weeks, advancing 1.1%.

Investors shrugged off worries about the shutdown after lawmakers once again failed to reach a deal on funding to keep the government open. The shutdown delayed the release of key economic data — including the September jobs report — which was originally due Friday.

“Nevertheless, we think this is a ‘sidebar’ issue and probabilities heavily favor stocks remaining strong from October to December this year. In fact, we see S&P 500 reaching at least 7,000 by year-end — and maybe higher,” wrote Tom Lee, head of research at Fundstrat.

“We would urge looking through the messiness of the shutdown, and even the lack of data. If stocks are particularly weak, I would use this to ‘buy the dip,’” he said.

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Despite the data blackout, several Federal Reserve officials are slated to speak this week, including Fed Governor Stephen Miran on Wednesday and Chair Jerome Powell on Thursday.

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