Global stock markets experienced a significant uptick on Monday, driven by optimism surrounding potential progress in ending the U.S. federal government shutdown and a resurgence in technology shares. The U.S. Senate’s procedural vote on Sunday to advance compromise legislation aimed at funding the government fueled hopes for a resolution, although final approval may still face delays due to potential Democratic objections. This development pushed U.S. futures higher, with the S&P 500 futures rising 0.7% and Dow Jones Industrial Average futures gaining 0.1%. European markets also saw robust gains, with Germany’s DAX climbing 1.4%, France’s CAC 40 jumping 0.9%, and Britain’s FTSE 100 rising 0.5%. In Asia, South Korea’s Kospi led the charge with a 3% surge, driven by strong performances from tech giants like SK Hynix and Samsung Electronics. Tokyo’s Nikkei 225 added 1.3%, while Hong Kong’s Hang Seng and China’s Shanghai Composite also posted gains. The rebound in technology stocks, particularly those tied to artificial intelligence, helped calm investor concerns over recent market volatility. Meanwhile, Wall Street remains focused on corporate earnings and the Federal Reserve’s cautious stance on interest rate cuts, with traders awaiting key economic data delayed by the shutdown. Oil prices and the U.S. dollar also saw modest increases early Monday.
World shares advance as tech shares rebound and the Senate takes steps to end the shutdown
