US stock index futures rose following Wall Street's strong performance last week as investors shrugged off concerns over the impact of the ongoing government shutdown.
Technology stocks led gains on Wall Street, driven by continued positive sentiment towards artificial intelligence (AI) and expectations of more interest rate cuts by the Federal Reserve (Fed).
Wall Street hit a series of record highs last week, supported by a rise in technology stocks and investor confidence that the Fed will cut interest rates in October.
The S&P 500 rose 0.3% to 6,782.25 points, the Dow Jones rose 0.2% to 47,144.0 points, while the tech-focused Nasdaq added 0.4% to 25,083.75 points.
US government shutdown continues, key data delayed
The US government remained shut on Sunday, with Congressional lawmakers showing little progress toward reaching an agreement on a spending bill.
White House officials have warned that this shutdown risks hitting the economy harder than ever before. Historically, government shutdowns have had only a limited impact on the economy and stock markets.
The ongoing disruptions at the federal agency have delayed the release of the NFP jobs report.
The shutdown is also expected to delay other data releases, including trade and weekly jobless claims, which are scheduled for this week.
The data delay has left investors uncertain about the direction of the US economy, even as a number of private economic reports show that the labour market is still lagging.
Meanwhile, several Fed officials are expected to speak this week, most notably Fed Chairman Jerome Powell, who is scheduled to speak on Friday at 12:30 am Malaysia time.
Sanae Takaichi Wins LDP Party Election, Yen Falls
Sanae Takaichi won the leadership election of Japan's Liberal Democratic Party (LDP), making him the frontrunner to become Japan's first prime minister.
Immediately after Takaichi's victory was announced, the yen fell sharply, with the USD/JPY pair gaining nearly 1.5%.
In contrast, Japanese stock markets saw a surge with the Nikkei index rising to a new high.
Volume on US exchanges was worth $20.47 billion, compared to an average of $19.01 billion over the 20-day trading period.
