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Stock Futures Rise Despite Government Shutdown

Tickers in this article: AMZN F GM GOOG ^DJI ^GSPC ^IXIC

NEW YORK ( TheStreet) -- Stock futures were pointing to a higher open on Wall Street Tuesday even after U.S. lawmakers failed to reach an emergency budget deal on time amid an impasse on the Patient Protection and Affordable Care Act.

It's the first government shutdown in 17 years. Investors, however, remained optimistic that the closure of nonessential services won't last long enough to cause a serious dent to the growth of the economy.

Futures for the S&P 500 were rising 7.5 points, or 7.2 points above fair value, to 1,681.75. Futures for the Dow Jones Industrial Average were gaining 55 points, or 52.33 points above fair value, to 15,101. Futures for the Nasdaq were up by 14 points, or 13.25 points above fair value, to 3,223.

Amazon.com said Tuesday it is hiring 70,000 full-time seasonal workers across its U.S. fulfillment centers over the holiday season to meet increased demand. Shares were edging up incrementally to $313.90 in premarket trading. The retailer said the hires are an increase of 40% from last year. Amazon said it plans to convert "thousands" of the temporary jobs into full-time roles after the holiday season.

Automakers such as General Motors and Ford are scheduled to release auto sales data for September on Tuesday. Sales in September are expected to total around 1.1 million, according to Edmunds.com, down 4% from a year earlier and 24% below sales in August, which was the best month in more than six years. Ford shares were up marginally to $16.89 in premarket trading.

Google has offered concessions that would allow it to avoid a showdown with European regulators. Joaquin Almunia , the European Commission's top antitrust official, said Google would allow competitors to display their own logos on its search display results page. He said Google's concessions will be tested to see how they would work in the market. Only then will the commission decide whether to accept them.

Economic data from the government are expected to experience disruption Tuesday because of the partial government shutdown. However, private data is still expected to be published at the originally scheduled time.

The Institute for Supply Management's manufacturing index is scheduled to be released at 10 a.m. EDT and is expected by economists to show a slip to 55 for September from 55.7 in August.

Originally scheduled to be out at the same were construction spending numbers for August from the Census Bureau.

Markit Economics is expected release its PMI manufacturing index at 8:58 a.m.

The FTSE 100 in London was down 0.19% and the DAX in Germany was climbing 0.64%. The Nikkei 225 in Japan settled up 0.2%. The mainland China and Hong Kong markets were closed for a national holiday.

The benchmark 10-year Treasury was down 12/32, bolstering the yield to 2.655%. The dollar was falling 0.18% to $80.08 according to the U.S. dollar index .