NEW YORK / LONDON (IT BOLTWISE) – US stock markets are showing optimism as an end to the historic government shutdown is in sight. Lawmakers are nearing a compromise that could reopen the government by January. This development has boosted stock futures as investors eagerly await the Senate vote.
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Stock markets in the US are optimistic as an end to the historic government shutdown appears to be coming to an end. S&P 500 futures rose 0.4%, while Nasdaq-100 futures rose 0.6%. The Dow Jones Industrial Average futures also rose 123 points, or 0.3%. This positive development comes on the back of hopes that a compromise in the US Senate could end the 39-day deadlock.
The compromise being discussed calls for reopening the government by January and reversing some of the recent mass layoffs in the public sector. According to insiders, enough Democratic senators have agreed to reach the required 60-vote mark in the Senate. If the Senate passes the proposal, it would still need to be approved by the House of Representatives and signed by the president to officially end the deadlock.
The government shutdown has pushed consumer confidence to its lowest level in more than three years, a University of Michigan survey shows. Because of the shutdown, federal agencies are currently not releasing key economic reports, including the consumer price index and producer price index that were scheduled for this week. This uncertainty has put additional strain on stock markets, already under pressure from concerns about excessive valuations of artificial intelligence stocks.
Last week, the Nasdaq Composite posted its worst weekly finish since April’s tariff-fueled selloff, with a loss of 3%. The S&P 500 lost 1.6% and the Dow Jones Industrial Average fell 1.2%. Analysts are watching developments closely as government shutdown negotiations and upcoming corporate reports, including Walt Disney’s quarterly results, could further influence markets.
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