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Wall Street Follows Global Markets Higher as the US Senate Takes Steps to End the Shutdown
Technology shares led gains as over 90% of S&P 500 companies reported earnings amid delays in economic data caused by the longest U.S. government shutdown.
- On Monday, global stock markets advanced as technology shares rebounded, with the S&P 500 up 0.1% and the Dow Jones Industrial Average adding 0.2%.
- The U.S. government shutdown is delaying key inflation and employment data traders and the Federal Reserve rely on, with job-market weakness prompting the Fed's more cautious rate approach.
- More than 90% of S&P 500 companies have reported quarterly results, FactSet shows tech sector growth, and Tokyo's Nikkei 225 rose 1.3%, led by Tokyo Electron's 4.3% surge.
- Investors are still betting on a December Fed rate cut, shaping asset allocations as corporate results gain significance amid missing economic data and U.S. benchmark crude oil rises to $60.28 per barrel.
- The Fed has already cut rates twice this year to offset a weakening jobs backdrop, but cutting further could worsen inflation above the 2% goal as Brent crude rises to $64.14 per barrel.
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World shares advance as tech shares rebound and the Senate takes steps to end the shutdown
BANGKOK (AP) — Shares advanced in Europe and Asia on Monday as tentative moves by the U.S. Senate to end the federal government shutdown pushed U.S. futures higher. The Senate voted late Sunday, in a test vote that begins a series of procedural maneuvers, to move toward passing compromise legislation to fund the federal government, though final passage could be several days away. The Senate may hold a vote by mid-December on extending expiring h…
·Albuquerque, United States
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Coverage Details
Total News Sources19
Leaning Left3Leaning Right1Center11Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 20%
C 73%
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