Wall Street | US Stocks: S&P 500, Nasdaq, Dow Jones
Wall Street futures rose on Monday, with the key index futures gaining over 1 percent, as investors cheered progress toward ending the record-breaking U.S. government shutdown. The US Senate move has lifted sentiment after a turbulent week marked by anxiety over lofty technology valuations and missing economic data.
As of early afternoon India time, futures tied to the S&P 500 were up about 0.8 percent, while Nasdaq 100 futures gained roughly 1.3 percent, extending Friday’s late-session recovery. Dow Jones Industrial Average futures also advanced, signalling a stronger open for US equities later in the day.
The rebound came after the US Senate voted 60-40 on a procedural measure to advance a bill funding the government through January 30, following weeks of political deadlock that had kept federal operations shut for 40 days — the longest in US history. A group of moderate Democrats broke ranks to back the deal, bolstering prospects of an imminent resolution.
Traders said that hopes of a reopening buoyed risk appetite, according to wire reports. This may help reverse part of last week’s sell-off in technology stocks, while offering relief to investors awaiting fresh economic data on jobs and inflation that have been delayed during the shutdown. The resumption of data releases is expected to provide the US Federal Reserve with clearer guidance on the timing and scale of rate cuts.
The optimism spilled into other markets, with European stock futures rising around 1.5 percent and Asia-Pacific equities gaining nearly 1 percent. US Treasury yields edged higher, with the 10-year note at about 4.14 percent, while the dollar strengthened modestly against the yen.
However, analysts cautioned that the deal must still clear both chambers of Congress before reaching President Donald Trump’s desk, meaning markets may remain sensitive to any political snags in the coming days.
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