U.S. stock futures were up on Monday after the Senate voted to end ending the long-lasting government shutdown. This also prompted gains for gold and crude oil. The COP30 climate conference begins later in the session, Pfizer has won the bidding war for obesity drug developer Metsera.
Shutdown breakthrough sparks optimism
Global markets started the week on a strong footing after the U.S. Senate voted to advance a bill aimed at ending the country’s longest-ever government shutdown. The move boosted sentiment across asset classes, with U.S. stock futures, gold, and crude oil all trading higher early Monday.
Lawmakers voted 60–40 late Sunday to move forward with a spending bill that would fund the federal government through January 30, 2026. The bipartisan effort saw eight Democratic senators backing a Republican proposal that includes commitments to restore jobs for furloughed workers and extend select healthcare subsidies. The bill will now face a final Senate vote, followed by approval from the House of Representatives before it can be signed into law by President Donald Trump.
The vote marks significant progress toward resolving a shutdown that has entered its 40th day, the 15th government closure since 1981 and the second under Trump’s presidency, with estimates suggesting tens of billions in lost GDP.
Market reaction
At 03:00 ET, S&P 500 futures were up 0.7%, Nasdaq 100 gained 1.3%, and Dow Jones rose 0.2%, as investors welcomed the potential reopening of the federal government. The news follows a tough week for Wall Street, with the NASDAQ Composite down 3%, the S&P 500 falling 1.6%, and the Dow losing 1.2%.
Meanwhile, consumer sentiment dropped to a three-and-a-half-year low in early November as prolonged uncertainty dampened confidence. White House economic adviser Kevin Hassett warned that if the shutdown persisted, the U.S. economy could contract in Q4.
COP30 summit opens in Brazil
The COP30 climate summit begins Monday in Belém, Brazil, marking 30 years since international climate talks began, leading to the 1992 U.N. Climate Treaty. The event takes place at the mouth of the Amazon River—a symbolic choice emphasizing the urgency of rainforest protection.
The conference is expected to be highly contentious, as the Trump administration has opted not to send senior officials and plans to withdraw from the treaty, a move that has sparked criticism from environmental groups.
Pfizer clinches $10B Metsera acquisition
In corporate news, Pfizer (NYSE:PFE) has won the bidding war for Metsera, an obesity-drug developer, in a $10 billion deal, defeating Danish rival Novo Nordisk (NYSE:NVO). Metsera accepted Pfizer’s improved offer on Friday, citing potential antitrust hurdles in Novo’s bid.
The acquisition gives Pfizer a long-awaited entry into the fast-growing obesity treatment market, which analysts predict could reach $150 billion by the next decade. The win is a setback for Novo Nordisk, which has been locked in fierce competition with Eli Lilly (NYSE:LLY) for market leadership.
Commodities rise: gold and oil rebound
Gold surged above $4,000 an ounce, gaining 1.9% to $4,077.00, as a weaker dollar and expectations of a Federal Reserve rate cut in December supported demand for safe-haven assets.
Oil prices also advanced, buoyed by optimism that an end to the shutdown could lift U.S. demand. Brent crude rose 0.8% to $64.11 a barrel, while WTI gained 0.9% to $60.28. Both benchmarks fell around 2% last week, their second consecutive decline, after OPEC+ decided to slightly raise production in December but pause further increases in early 2026 to avoid oversupply.
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