Global stocks rallied Monday as the longest-ever U.S. government shutdown appeared to be drawing to an end.
The U.S. senate has approved the first stage of a bipartisan deal which could bring an end to the shutdown. The deal would fund the government until Jan. 30th next year, and would potentially reverse some of the permanent layoffs of government employees that occurred during the 35-day impasse.
Strategists said a potential end to the shutdown would offer a boost to investors after a week in which AI and tech stock jitters sent global equities into retreat.
Speaking with CNBC’s “Europe Early Edition” on Monday, Jason Paltrowitz, executive vice president at OTC Markets, said a resolution would be positive, not just in the U.S. but for global markets more broadly.
“I think all news is good news,” said Paltrowitz. “I think the market needs to see we’re moving past this. I think investors want some surety both for the economy and for their own investment,” he added.
