Stocks Rally on Bets Shutdown Endgame Is in Sight: Markets Wrap

Wall Street traders piled into riskier corners of the market, with stocks climbing alongside Bitcoin as the US Senate advanced a plan to end the longest-ever government shutdown, which would remove a significant economic headwind. Bonds lost steam.

The risk-on bid lifted the S&P 500 by 1.5%. Technology megacaps, which had been hit the hardest in recent sessions, saw their biggest advance since May. As demand for safety waned, Treasuries edged lower while the dollar underperformed most of its major currency peers.