Stock Market Today: Stock Futures Tease Record Highs For S&P 500, Nasdaq

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Happy Friday. This is TheStreet's Stock Market Today for Oct. 3, 2025. You can follow the latest updates on the market here in our daily live blog.

Update: 7:38 a.m. ET

Everything Happening Today (That We Know Of)

Good morning. Goldman Sachs  (GS)  CEO David Solomon said this morning that he expects the U.S. economy to accelerate, thanks to "AI infrastructure build", per Bloomberg. But as he praises the relative strength of the economy, he also warns: "it's not different this time" with tech stocks hitting steep valuations.

His friends down the street at Morgan Stanley  (MS)  are casting similar worries. The bank's chief investment officer, Lisa Shalett, has warned about "cracks" in AI capex spending. Not a lot of substance in the note; just some 'vibes' about how it could be existential to the market's bull run.

That does seem to be an increasing worry among a cropping of the market, but obviously, it's not a serious concern among investors. All four U.S. benchmarks -- the Russell 2000, Dow, Nasdaq, and S&P 500 -- are slated for all-time highs at the open, based on their current trading in futures. We'll be keeping an eye on equity indexes, as the government shutdown goes into its third day and investors run away with AI-fueled optimism.

Economic Data & Events

With the government still shut, there's going to be a dearth of economic data from federal institutions like the Bureau of Labor Statistics (BLS). 

As a result, today's payrolls report will be punted, even though a report says that the agency finished the report ahead of the government shutdown.

There will be reports from private firms, though. And today, we'll get two cents from the ISM Services PMI, as well as the S&P Global's Composite and Services PMI.

Here are today's reports:

And, for added context, here are the various reports we aren't getting today because of the shutdown:

Earnings Today

Continuing yesterday's lull, there won't be any substantive earnings reports today, per data sourced from Nasdaq. The first of the third quarter earnings will tee off next week on Oct. 9, while some stragglers from the second quarter will continue to report into the early earnings season.