Stock futures decline after US government shutdown ends; Dow Jones slides after record close

Stock futures fell Thursday after President Donald Trump signed a funding bill to end the longest federal shutdown in U.S. history.

Futures tied to the Dow Jones Industrial Average fell 0.1% after the blue-chip index hit an intraday high and closed above 48,000 for the first time on Wednesday. Shares of the technology-heavy Nasdaq and S&P 500 fell 0.3% and 0.2%, respectively.

Late Wednesday, the House passed a bill to fund the federal government through Jan. 30 and end the record 43-day shutdown, which President Trump then signed into law. The shutdown delayed federal employee paychecks, hindered the payment of food benefits to families in need, canceled flights, halted the collection and reporting of important economic data, and undermined consumer confidence, among other ripple effects.

The yield on the 10-year Treasury note rose to 4.10% from 4.07% at Wednesday’s close. Bitcoin was trading at around $103,000, up from an intraday low of less than $102,000. The US dollar index, which measures the dollar’s performance against a basket of foreign currencies, fell 0.2% to 99.29. Gold futures rose 0.5% to $4,235 an ounce. West Texas Intermediate crude futures, the US oil benchmark, rose 0.6% to $58.85 a barrel.

In post-earnings action, Cisco Systems (CSCO) stock rose nearly 7% in pre-market trading after the networking equipment company raised its full-year earnings forecast; Walt Disney Company (DIS) stock The stock fell 3% after the media and entertainment giant reported worse-than-expected revenues. Flutter Entertainment (FLUT) stock fell 1.5% after parent company FanDuel cut its full-year revenue and revised its EBITDA forecast.

Shares of chipmaking equipment maker Applied Materials (AMAT) and Brazilian meatpacking giant JBS (JBS), which will report quarterly results after markets close today, fell 0.5% and rose slightly, respectively, before the bell.

Elsewhere, shares of Sealed Air (SEE) rose 20% after a report that the maker of Bubble Wrap and other packaging products was in talks with private equity firm Clayton Dubilier & Rice to go private, while Starbucks (SBUX) fell after Starbucks Workers United launched a strike over the coffee chain’s Red Cup Day sales event.