"Wall Street pointed toward strong gains before markets opened Monday as a bipartisan deal to end the federal government shutdown gained traction in the Senate, though it lacked any clear resolution to expiring health care subsidies that Democrats have been fighting for.Rising hopes for an end to the longest federal government shutdown in U.S. history pushed futures for the S&P 500 0.9% higher, while Dow Jones futures gained 0.4%."
"Nasdaq futures climbed 1.5% on the strength of the technology sector.Health insurers were among the losers early Monday as lack of clarity on health care subsidies clouded their futures.Sunday's test vote began a series of procedural maneuvers to move toward passing compromise legislation to fund the federal government, though final passage could be several days away."
"The Senate may hold a vote by mid-December on extending expiring health care tax credits, the key sticking point.President Donald Trump suggested in a social media post over the weekend - with few details - that the subsidies being sent to the "money sucking" insurance companies should instead be sent directly to people so they can buy their own health insurance."
Wall Street futures rose as bipartisan Senate momentum toward ending the federal government shutdown increased, despite no clear resolution on expiring health care subsidies. S&P 500 futures climbed 0.9%, Dow futures rose 0.4% and Nasdaq futures gained 1.5%, driven by strength in technology shares. Health insurers fell amid uncertainty over subsidy extensions, with Cigna, UnitedHealth Group and Humana dropping 1–2% and some smaller firms down as much as 9%. The Senate began procedural steps toward compromise funding legislation and may hold a mid-December vote on extending health care tax credits. Tech rebounds included Micron, Seagate and Super Micro, and more than 90% of S&P 500 companies have reported quarterly earnings with results beating expectations per FactSet data.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]