US stock markets notch a huge comeback as government shutdown deal nears

If I needed to attempt to pin down a catalyst for the comeback it might be the information on a couple of fronts:

1. Extra dovish UMich survey
2. Decrease 1-year inflation expectations within the NY Fed survey
3. Indicators of a deal on a US authorities shutdown

The factor is, that each one hit round 10 am ET and the market did not backside till two hours later. What I might spotlight is that the underside got here nearly proper at midday ET, which can be when Europe closed.

On the shutdown level, Democratic Senate chief Schumer is saying they’re in search of a one-year extension on healthcare subsidies. That has added to some constructive momentum.