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US stock futures inched up Monday night as investors took a breather following a rally fueled by optimism that Washington may soon end the record-breaking government shutdown.
Futures attached to the Dow Jones Industrial Average (YM=F) hovered above the baseline. Contracts on the S&P 500 (ES=F) rose 0.1%, and the tech-heavy Nasdaq 100 (NQ=F) crept up 0.2%.
All three major indexes advanced sharply to start the week. The Nasdaq Composite (^IXIC) surged 2.3% in its largest single day gain since late May as investors piled back into artificial intelligence names following last week’s tech sell-off.
The rebound came as lawmakers appeared closer to striking a deal to reopen the federal government. The Senate voted Monday evening to approve a bipartisan funding measure, advancing it onto the House. The bill omits Democrats’ push to tie government funding to an extension of Affordable Care Act subsidies, instead scheduling a separate vote on those tax credits in December.
But the prospect of a shutdown resolution helped lift investor sentiment after weeks of uncertainty. Nvidia (NVDA) led the charge, soaring almost 6% and accounting for more than a quarter of the S&P 500’s gains Monday. Alphabet (GOOG) added 4%, while Microsoft (MSFT) rose 1.9%, snapping an eight-day losing streak.
Meanwhile, earnings season continues to make waves, with CoreWeave (CRWV) dropping over 5% in after-hours trading Monday after its release. Investors are looking ahead to Disney (DIS), Sony (SONY) and Cisco (CSCO) all releasing reports this week.
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Bloomberg reports: