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Markets Dip As Nasdaq Leads Losses; Shutdown Deal Offers Hope
The bipartisan deal ends a 40-day shutdown, restoring key services and economic data releases vital for Federal Reserve interest rate decisions, Senate sources said.
- Monday, European and Asian stock markets rallied as a group of Democrats and Republicans in the Senate reached a bipartisan agreement to fund operations through January, breaking the record-breaking 40-day impasse.
- The shutdown halted government services including air travel heading into the Thanksgiving holiday, after weeks of wrangling over healthcare subsidies, food benefits and firings of federal employees.
- Currency and oil moves reinforced the risk-on tone as the dollar steadied versus the euro and pound, rose against the yen, and Brent North Sea Crude ticked up 0.2 percent to $63.73 per barrel.
- The Senate will have up to 30 hours to debate the measure, which still needs approval from the Republican-controlled House of Representatives and President Donald Trump, lawmakers said, with promises to restore food-stamp funding and reverse thousands of federal firings.
- Reopening would allow officials to resume labour-market data that the Federal Reserve uses as it considers rate cuts next month, while Beijing suspended `special port fees` easing China-U.S. tensions.
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US stocks today: Markets rise on hopes of US govt shutdown ending; Nasdaq jumps over 440 points, S&P 500 gains 1%
Global stock markets surged on Monday. Investors are optimistic as the US government shutdown nears resolution after a 40-day standoff. A bipartisan deal to fund government operations has been reached. This development brings much-needed clarity on US inflation and the labor market. Pfizer's ...
Coverage Details
Total News Sources88
Leaning Left13Leaning Right12Center19Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 30%
C 43%
R 27%
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