United States stock futures rose Sunday evening (Monday AEDT) as investors responded to signs of progress in Congress toward ending the historic government shutdown.
By 10:40 am AEDT (11:40 pm GMT), Dow Jones Industrial Average futures were up 0.3%, S&P 500 futures added 0.4%, and Nasdaq 100 futures gained 0.6%
Investors are closely monitoring negotiations over a federal funding bill intended to reopen the government and reverse recent mass federal layoffs.
Senate Majority Leader John Thune, R-S.D., said Sunday that an agreement on the federal budget is “coming together”, but cautioned that a deal is not yet final.
The proposed plan would restore government operations through January. However, it remains unclear how healthcare subsidies would be handled and whether sufficient Democratic support exists for the package without adjustments to those benefits.
The shutdown has contributed to waning consumer confidence, which fell to its lowest level in more than three years according to a University of Michigan survey released Friday, hovering just above its worst-ever reading.
Federal agencies have been unable to release many key economic reports, including the consumer price index and producer price index, adding to market uncertainty.
The stock market has felt additional pressure from concerns over inflated valuations in technology and artificial intelligence-linked stocks.
Last week, the Nasdaq Composite fell 3%, marking its worst weekly performance since the tariff-driven selloff in April. The S&P 500 dropped 1.6%, while the Dow Jones Industrial Average fell 1.2%.
Investors will also be paying attention to several earnings releases this week, including Walt Disney’s quarterly results on Thursday.
