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US Dow jumps 310 points as shutdown resolution boosts risk sentiment
US indices rose as the Senate averted a shutdown, lifting the Dow by 310 points and reducing volatility with energy and financials leading gains.
US equities closed higher on November 12 after the Senate approved a temporary spending bill averting a government shutdown. The Dow Jones Industrial Average rose 310 points (0.82%) to 38,815 while the S&P 500 and Nasdaq gained 0.7% and 0.6%, respectively. Energy and banking stocks led gains as oil prices stabilized and Treasury yields fell to 4.24%. Investor confidence strengthened on expectations of a smooth budget process through December.
The VIX volatility index declined 4% indicating reduced risk perception. Global markets tracked US momentum with Asia-Pacific futures opening positive for the next session.