Futures Stall as Shutdown Deadline Draws Near

Wall Street Hits Pause
U.S. stock futures slipped Tuesday as investors juggled two big risks: President Trump’s latest tariff blitz and the looming threat of a U.S. government shutdown. The Dow and S&P 500 each dipped about 0.2%, while the Nasdaq 100 eased 0.1% after modest gains the day before.

Gridlock in Washington
Trump met with Democrats at the White House on Monday, but both sides walked away without progress. Lawmakers have until Wednesday at 12:01 a.m. ET to strike a deal or face a partial shutdown. Vice President JD Vance bluntly predicted: “I think we’re headed to a shutdown.”

What’s at Stake
If the government closes, chaos could hit airports, federal workers face mass firings, and perhaps most importantly, the Bureau of Labor Statistics would go dark. That means no fresh jobs or inflation data — a nightmare for both Wall Street and the Federal Reserve as they try to chart interest-rate policy.

Fed Waiting on Jobs Report
The September jobs report, due Friday, is supposed to be the next big input for Fed policy. Without it, markets lose a critical guidepost just as traders debate whether the central bank will actually deliver the two more cuts expected this year. Mixed data and growing divisions among Fed policymakers have already made the outlook murkier.

Stocks, Tariffs, and More
Despite the political gridlock and new tariffs announced Monday, Wall Street managed to inch higher at the start of the week. Nike is also in focus with earnings expected after the bell, while fresh data on job openings will give traders another labor-market signal.

The Bottom Line
​Markets are caught in a holding pattern. Between tariffs, a possible shutdown, and critical jobs data, investors are bracing for turbulence that could shape not just the next week — but the Fed’s entire playbook for the rest of the year.