Stock Futures Rise on Optimism for Deal to End US Government Shutdown

Stock futures pointed higher following a down week, as investors were optimistic a deal was near to end the record U.S. government shutdown.

Futures associated with the tech-heavy Nasdaq, benchmark S&P 500, and blue-chip Dow Jones Industrial Average were up a respective 1.5%, 1%, and 0.4%. Last week, the Nasdaq fell 3%—its worst weekly performance since President Donald Trump shook markets with his “Liberation Day” tariffs in early April—while the S&P 500 lost 1.6% and the Dow declined 1.2%.

Late Sunday, the Senate advanced a procedural measure to allow other votes today on an agreement to end the shutdown, now at 41 days. Eight Democrats joined Republicans to reach the 60-vote threshold to advance the measure. The shutdown is weighing on consumer sentiment, which fell to its lowest level since June 2022, when post-pandemic inflation peaked at its highest rate in 40 years, per a monthly University of Michigan survey. 

The yield on the 10-year Treasury, which influences interest rates on consumer loans like mortgages, rose to 4.12% from 4.10% at Friday’s close. The bond market will be closed for Veterans Day tomorrow, although stock markets will be open.

Gold futures rose 2% to $4,090 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, were little changed at $59.80 a barrel. Bitcoin was trading around $106,000, up from a weekend low of below $101,500. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, was near flat at 99.61.

Metsera (MTSR) shares sank 15% in premarket trading after the weight-loss drugmaker agreed to be acquired by Pfizer (PFE) for about $10 billion after Novo Nordisk (NVO) pulled out of a bidding war. Shares of Novo Nordisk rose about 1.2%, while those of Pfizer advanced about 0.5%.

Tesla (TSLA) stock, which dropped about 4% Friday after investors greenlit a proposed pay package for CEO Elon Musk that would be worth $1 trillion if the company and its stock hit ambitious performance goals, rose 2% before the bell.

Elsewhere, CoreWeave (CRWV) shares surged 5% ahead of the company’s quarterly earnings report after the closing bell, and those of health insurers, including UnitedHealth (UNH), CVS Health (CVS), and Centene (CNC), fell after President Trump said federal funding under the Affordable Care Act should go directly to the public instead of them.