U.S. stock futures fell Monday following a strong week for the major averages, in which the Dow Jones Industrial Average and S&P 500 closed at fresh all-time highs. Dow futures fell by 213 points, or 0.5%. S&P 500 futures and Nasdaq-100 futures each dipped 0.3%. The growing risk of a government shutdown possibly added to the downbeat sentiment. Last week, the Senate rejected Republican and Democratic proposals to at least temporarily fund the federal government. Senate Democratic Leader Chuck Schumer has since urged President Donald Trump to meet with Democrats to strike a deal. These developments come as the deadline for lawmakers to fund the government is Sept. 30. The stock market posted a solid advance last week. The S&P 500 and Dow rose 1.2% and 1%, respectively. The tech-heavy Nasdaq jumped 2.2%. The small-cap Russell 2000 also surged 2.2%, posting its seventh straight week of gains. Last week saw the Federal Reserve cut interest rates by a quarter percentage point, its first reduction since December. It was a widely anticipated decision that, after some initial volatility, investors took to mean the central bank has taken a dovish tilt amid rising signs of a slowing labor market. Markets are now pricing in two more quarter-point cuts between now and the end of the year, according to the CME FedWatch Tool. Investors will review upcoming macroeconomic data with even more care to ensure that the expected path of monetary easing remains intact. “With equities near the highs and rates markets still pricing in [roughly] 5x additional cuts over the next year, further support for equities will hinge more on robust incoming macro data than on more dovishness in rates, in our view,” Barclays head of European equity strategy Emmanuel Cau wrote on Friday. The coming week will bring the latest personal consumption expenditures price index — the Fed’s preferred inflation measure — which is expected to show elevated pricing pressures. Investors expect inflation to remain tame enough for the Fed to maintain its current stance on monetary policy. Over in China, the CSI 300 rose 0.46% after its central bank kept the loan prime rates (LPR) unchanged for the fourth month in a row, in line with a Reuters poll. The decision to stand pat comes after the U.S. Federal Reserve lowered its rates by 25 basis points last week. Hong Kong’s Hang Seng Index fell 0.76% to close at 26,344.14, while the Hang Seng Tech Index declined 0.58% to close at 6,257.91. Japan’s benchmark Nikkei 225 index rose 0.99% to close at 45,493.66, while the Topix index advanced 0.49% to end the trading session at 3,163.17. The 10-year Japanese Government Bonds rose 0.67% to 1.650, the highest level since July 2007. South Korea’s Kospi index added 0.68% to close at 3,468.65, while the small-cap Kosdaq jumped 1.3% to close at 874.36. Australia’s ASX/S&P 200 increased 0.43% to close at 8,810.9. Oil prices were little changed on Monday as concerns over Russia and the Middle East were countered by oversupply jitters. Brent crude oil futures, which have traded between around $65.50 and $69 a barrel since early August, dipped 12 cents, or 0.2%, to $66.56 a barrel by 1000 GMT while the U.S. West Texas Intermediate crude contract for October was at $62.65 a barrel, down 3 cents, or 0.1%. The October WTI contract expires on Monday and the more active November contract fell 18 cents, or 0.3%, to $62.22 a barrel. Gold surged to set a fresh record high on Monday, buoyed by investors’ heightened expectations of a dovish rate-cut path, ahead of remarks by multiple Federal Reserve officials and key inflation data later in the week. Spot gold rose 1.1% to $3,723.81 per ounce after hitting a new record high of $3,726.19 earlier in the session. U.S. gold futures for December delivery climbed 1.4% to $3,758.40. “I would expect gold to reach new record highs this week with Fed officials likely to indicate further rate cuts, but also being data dependent on the pace and magnitude of cuts,” said UBS analyst Giovanni Staunovo.