US EditionStocks Mostly Rise as End to US Shutdown Appears Closer
- On Sunday, the U.S. Senate approved the first stage of a bipartisan deal, moving the package toward a House of Representatives vote and President Donald Trump's signature.
- A congressional deadlock produced the shutdown, stretching to a 40-day shutdown that sidelined federal workers, dented consumer sentiment, and caused air traffic controller shortages cutting flights in the airline sector.
- Nasdaq futures surged in pre-market trade as global shares rallied on Monday, with STOXX 600 gaining about 1.4%.
- If passed by the House, lawmakers expect a Wednesday vote with the government reopening this Friday and funding secured until Jan. 30 next year, potentially rehiring federal employees.
- Markets now price a 63% chance of a December rate cut, and Jonathan Pingle said data will reduce uncertainty for the Federal Open Market Committee; gold rose to about $4,079 an ounce, with Jason Paltrowitz saying `I think all news is good news`.
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Stocks mostly rise as end to US shutdown appears closer
Europe's main stock markets climbed Tuesday following a largely tepid performance by Asia's top indices as a record-long US government shutdown took a step nearer to ending.
The Senate has paved the way for an end to the longest budget shutdown in US history. This is not only driving up stock prices on Wall Street, but also on the Frankfurt Stock Exchange.
Global stocks up on bet US federal shutdown is nearing an end
Wall Street traders rushed to the riskiest corners of the market yesterday, with stocks climbing alongside bitcoin as the US senate advanced a plan to end the longest-ever government shutdown and remove a significant economic headwind. Bonds edged lower.
Markets gain on hopes of US shutdown ending
US lawmakers on Monday inched closer to reopening the government, as the White House backed a deal that advanced in the Senate. The historically long shutdown is now on track to end this week, analysts said, which would allow the government to resume food stamp benefits and resolve air travel chaos wrought by staffing shortages. The proposed funding package exposed divisions among Democrats, but lifted spirits on Wall Street; US shutdowns typica…
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