Senators take steps to end government shutdown. Next is here
Eight senators voted across party lines to end the government shutdown. I’ll explain next.
U.S. stock futures soared on Monday as an end to the government shutdown appeared in sight.
Futures tied to the S&P 500 are expected to rise nearly 1%, or 63 points, and the Dow Jones Industrial Average is expected to open up 178 points, or 0.4%. Nasdaq futures were up 1.5%, or about 375 points, as of 8:40 a.m. New York time.
The market frenzy came after the Senate voted 60-40 late Nov. 9 to advance legislation to end the government shutdown. Eight Democratic senators have broken long-standing demands on health care policy and joined with 52 Republicans to end the filibuster that blocked the bill.
Government reopening is not yet over. The Senate is scheduled to reconvene at 11 a.m. ET. The House must then vote on the bill again before sending it to President Donald Trump.
Still, U.S. industry has weathered Washington’s ups and downs this year better than many expected, especially the uncertainty surrounding tariffs. According to FactSet analysis, the proportion of S&P 500 companies reporting positive windfall earnings is above the 10-year average, but the size of windfall is on par with the 10-year average.
And on Nov. 9, Goldman Sachs analysts weighed in on the continued strong rise in AI stocks.
“While valuations are high, our equity strategists maintain that we are not clearly in bubble territory yet,” the group said, adding: “There is nothing stopping the market from accumulating further upside. Indeed, the lesson of past bubbles is that investors can sacrifice significant profits by exiting too early, given that prices can rise well above fundamental values.”
