Stock Market Today: S&P 500, Nasdaq Set to Open Up; Dow Futures Fall; Trump Shutdown Fears; Intel, Tesla, MP Materials, Nvidia, More Movers

The dollar was recovering slightly as the Japanese yen pulled back after gains in the previous session that were driven by speculation about joint U.S.-Japan interventions to support the Asian currency.

Market attention is turning back to Japan’s looming Feb. 8 snap election as official campaigning starts Tuesday.

There are concerns that the election could lead to further fiscal expansion and worsen government debt if the Prime Minister Sanae Takaichi secures a majority for her Liberal Democratic Party.

The DXY dollar index rose 0.2% to 97.196 after reaching a four-month low of 96.8060 on Monday.