Market Overview - The S&P 500 and Nasdaq 100 futures rose over 0.5% amid hopes for a resolution to the US government shutdown, with Senate Republican leader John Thune planning to test support for a narrow spending package [8] - Asian tech stocks are particularly vulnerable following a selloff in US technology shares, raising concerns about stretched valuations [1][8] - The S&P 500 experienced a slight increase of 0.1% on Friday, rebounding from a test of its 50-day moving average, despite a drop in US consumer sentiment to a three-year low [6][8] Economic Indicators - Chinese consumer prices unexpectedly rose by 0.2% in October year-over-year, driven by increased demand during holidays, while factory-gate deflation eased [2][8] - The yield on 10-year Treasuries increased slightly, and the US dollar fell by 0.2% [6][8] - The Reserve Bank of Australia is expected to express concerns over inflation pressures, which may support the Australian dollar [9] Political Context - The potential end to the government shutdown is uncertain, as House Democrats may demand a one-year extension of Obamacare subsidies in exchange for their support [5][8] - Analysts suggest that even if a vote succeeds, the shutdown may not end quickly due to the need for bipartisan agreement [5][8]
US stock futures jump on hopes for deal on shutdown
The Economic Timesยท2025-11-10 01:11