Overview
- Senators approved a procedural step to open debate on a funding package that would keep the government operating through January 30, with final passage still required in the House and by the president.
- U.S. stocks surged as the S&P 500 rose about 1.5%, the Nasdaq gained roughly 2.3% and the Dow added 0.8%, while MSCI’s global gauge climbed and Treasury yields ticked higher.
- Tech and AI names led the rebound, with Nvidia, Palantir and chipmakers posting outsized gains, and Europe’s FTSE 100 set a record high as risk appetite improved worldwide.
- The compromise excludes an immediate extension of Affordable Care Act subsidies, sending health-insurer shares lower, with a separate vote on the tax credits signaled for December.
- Investors expect a wave of delayed U.S. economic reports once agencies reopen, potentially starting with September jobs data, which could influence the Federal Reserve’s December rate decision.