By
Joel South
Oct 10, 2025 | Updated 9:16 AM ET
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Key Points
- The U.S. government remains in shutdown mode on Day 10, with economic data reports suspended.
- Earnings season begins next week.
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The Vanguard S&P 500 ETF (NYSEMKT: VOO) closed down 0.3% on Thursday as the U.S. government endured its ninth straight day of shutdown.
Now it’s Friday, and Day 10, and the Voo is rising a bit, up less than 0.1% premarket.
With the government shut down, there’s little hope of optimistic economic data goosing the market higher. Actually, the contrary is more likely, with investors wondering what bad news might be going unreported by government agencies that have gone silent.
If there is good news to report, something to provide catalysts to drive stock prices higher, it’s probably going to have to come from companies themselves. Luckily, earnings season ramps back up next week, with big banks starting to report their Q3 profits.
The news could be good or bad — but at least it will be news.
Earnings
Even before earnings season officially kicks off, a handful of companies are reporting (either early for this coming season, or straggling in late from the last one, depending on your perspective).
Applied Digital (Nasdaq: APLD) beat “earnings” by 11 cents last night, reporting a fiscal Q1 2026 loss of only $0.03 where Street analysts forecast a $0.14 loss. Even better, Applied did $64.2 million in revenue for the quarter, well ahead of the $51 million forecast.
Jeans-maker Levi Strauss & Co. (NYSE: LEVI) beat by four cents with a $0.34 per share third quarter 2025. Revenue edged out consensus estimates at $1.5 billion. On the down side, Levi guided to $1.27 to $1.32 per share for the full year 2025. Taken at the midpoint, that’s less profit than the $1.31 Wall Street consensus.
Unsurprisingly, Levi stock is down a lot premarket on the news — nearly 10%.
Glassmaker Apogee Enterprises (Nasdaq: APOG) also beat by 14 cents with a $0.98 fiscal Q2 2026 profit. Revenue for the quarter was $358.2 million, also beating expectations. But Apogee warned on earnings, saying full-year profits will range from $3.60 to $3.90, well below expectations for $3.96.