DOW futures indicate a positive trajectory in anticipation of the forthcoming release of crucial U.S. inflation data, which has been delayed due to an extended federal government shutdown. A range of corporate earnings is also under scrutiny. In other developments, U.S. President Donald Trump has announced the termination of trade negotiations with Canada, citing a “fraudulent” advertisement funded by the Ontario government as the reason. Meanwhile, gold is poised to experience its first weekly decline in over two months.

DOW futures experienced an uptick on Friday, as investors evaluated a corporate earnings season that is currently underway and considered the implications of trade tensions between the United States and China. As of 03:23, the Dow futures contract exhibited an increase of 59 points, representing a 0.1% rise. Meanwhile, S&P 500 futures advanced by 15 points, or 0.2%, and Nasdaq 100 futures experienced a climb of 88 points, equating to a 0.4% gain. The primary indices concluded Thursday’s trading session with gains, primarily driven by President Donald Trump’s announcement of an upcoming meeting with Chinese leader Xi Jinping in South Korea later this month. In individual stocks, electric vehicle giant Tesla experienced an increase of 2.3%, recovering from prior declines, as market participants focused on both record quarterly sales and profits that fell short of expectations. Nevertheless, certain analysts concentrated their attention not on Tesla’s automotive operations, but rather on its aspirations in domains such as autonomous driving and humanoid robotics. Shares of T-Mobile experienced a decline, even as the telecom operator reported third-quarter wireless subscriber additions that surpassed expectations. In other developments, Honeywell’s aerospace division contributed to an enhancement in the conglomerate’s yearly forecast, providing a boost to the stock.

Markets are preparing for the upcoming release of the U.S. consumer price index for September, which has been delayed for several weeks due to an extended federal government shutdown. Headline inflation for the year ending in September is projected to be 3.1%, an increase from the 2.9% recorded in August. On a month-on-month basis, it is anticipated to match the rate observed in August, which stands at 0.4%. Excluding the more volatile components such as food and fuel, the “core” CPI is anticipated to register at 3.1% year-over-year and 0.3% on a monthly basis. The closure in Washington, attributed to a stalemate in Congress regarding a funding bill, has resulted in the deferment of multiple official economic indicators. Importantly, this has left officials at the Federal Reserve without essential data needed to fine-tune monetary policy prior to the central bank’s upcoming meeting on October 28-29. Inflation has emerged as a significant concern for policymakers ahead of the gathering, particularly given that pre-shutdown data indicates persistent price pressures. However, the Federal Reserve has predominantly focused on indicators of decelerating employment growth, referencing this trend as a rationale for its decision to reduce interest rates by 25 basis points during its most recent meeting in September. Another quarter-point reduction is expected in October, with an additional decrease anticipated at the Fed’s final meeting of the year in December. However, in the absence of a plethora of current economic data, a degree of uncertainty persists regarding the Fed’s trajectory on interest rates.

Shares of Ford Motor increased in after-hours trading following the carmaker’s quarterly income report, which exceeded expectations due to robust demand for its SUVs and pickup trucks. Net income surged to $2.4 billion, compared to $900 million in the previous year. In the third quarter, Ford reported earnings per share of $0.45, surpassing LSEG’s estimates of $0.36. The company is now focusing on a potentially reduced effect from extensive U.S. tariffs, as Trump has recently sanctioned an initiative to broaden tax incentives for domestic auto and engine manufacturing. Executives indicated that the levies will now impose a cost of $1 billion on the business, a reduction from the earlier forecast of $3 billion in July, attributed to the tariff relief. CFO Sherry House indicated that Ford would have increased its annual financial forecast; however, it was ultimately compelled to reduce the outlook due to a fire at a key aluminum supplier. The recent fire at the Novelis factory in Oswego, New York, which provides materials for Ford’s widely sought F-150 trucks, is projected to impact production until the year’s end and result in costs ranging from $1.5 billion to $2 billion prior to taxes and interest. Despite Ford CEO Jim Farley indicating that strides were being made to mitigate these costs, the company has revised its full-year forecast downward for the second occasion this year. Prior to accounting for taxes and interest, projected income is estimated to be in the range of $6 billion to $6.5 billion, a revision from the earlier forecast of $6.5 billion to $7.5 billion.

Trump has announced the cessation of all trade negotiations with Canada, referencing what he termed a “fraudulent” advertisement funded by the Ontario government that featured the late President Ronald Reagan. “Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED,” Trump stated in a post, underscoring that tariffs were essential to U.S. national security and the economy. Trump asserted that Canada had employed a “FAKE” advertisement showcasing Reagan expressing disapproval of tariffs, contending that it was designed to “interfere with the decision of the U.S. Supreme Court, and other courts” as they evaluate the legality of the duties. Since shortly after his return to the White House in January, Trump has focused on Canada in a series of trade disputes. The White House initially imposed tariffs on the country, citing insufficient measures to address drug smuggling. However, these levies were subsequently eased, with exemptions established for items included in the U.S.-Mexico-Canada Agreement, a trade pact enacted during Trump’s first term. Tariffs have been levied on Canadian steel, aluminum, lumber, and automobiles, reflecting the Trump administration’s assertion of a commitment to bolster national security. Canadian Prime Minister Mark Carney engaged in face-to-face discussions with Trump two weeks ago; however, these talks did not result in a concrete agreement.

Gold prices were on track for their initial weekly decrease in ten, as investors secured profits following recent record peaks and anticipated the U.S. inflation data set to be released later in the day. Spot gold experienced a decline of 0.8%, trading at $4,092.79 an ounce as of 03:24, while U.S. gold futures decreased by 0.9%, reaching $4,106.76. Despite reaching an all-time high earlier in the week, bullion has since declined by over 3%, positioning it for its most significant weekly drop since November 2024. Expectations surrounding the upcoming meeting between Trump and Xi have somewhat diminished gold’s allure as a safe-haven asset. Concurrently, the appreciation of the U.S. dollar has rendered the acquisition of the yellow metal costlier for holders of foreign currencies. Analysts have indicated that a subdued CPI reading on Friday may reinforce expectations for a Fed rate cut this month and in December, potentially providing support for gold. The precious metal typically exhibits superior performance in environments characterized by low borrowing costs, as this diminishes the opportunity cost associated with holding non-yielding bullion.