10.11.202514:36:54UTC+00US Stocks Rise on Optimism Over US Shutdown Deal

Wall Street commenced the week on a positive note as key indices demonstrated solid gains. The S&P 500 increased by 0.6%, the Nasdaq surged by 1.6%, and the Dow Jones Industrial Average advanced by over 280 points. This upswing was fueled by optimism surrounding a potential resolution to the government shutdown. A procedural vote in the Senate yesterday marked progress on a deal to reopen the government, achieving the necessary 60 votes to advance. Notably, eight Democratic senators parted ways with their party's leadership by relinquishing their demand for a guaranteed extension of Obamacare subsidies. Although the proposal still requires further debate and approval in the Senate, its fate in the Republican-majority House of Representatives is uncertain. The technology and communication services sectors led the market's rally, each gaining nearly 2%, whereas consumer staples and real estate sectors experienced weaker performance. Among significant stock movements, Nvidia appreciated by 3.6%, Palantir rose by 3.8%, AMD increased by 3.7%, and Micron Technology saw a substantial rise of 5.8%.