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Stalemate Deepens as Government Shutdown Hits Historic Length

House Speaker Mike Johnson, joined at left by Rep. Andrew Garbarino, answers questions at a news conference at the Capitol on day 16 of the government shutdown.  The federal government shutdown has now stretched into its 20th day, officially becoming the third-longest in U.S. history. With no breakthrough in sight, the standoff between Democrats and Republicans continues to paralyze Washington. The Senate is scheduled to vote yet again on a funding measure, marking the 11th attempt to end the impasse. However, both sides remain entrenched: Republicans are pushing for a stopgap bill to extend funding at current levels, while Democrats insist on restoring cuts to Medicaid and securing health care subsidies before reopening the government. The shutdown, which began on October 1, has already furloughed hundreds of thousands of federal workers and disrupted key services. If it continues past October 22, it will surpass the 1995-1996 standoff to become the second-longest in U.S. histo...
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Stock Market Today: Dow, S&P 500, Nasdaq Futures Signal Rebound from Fed-Fueled Rout

                                          

U.S. stock futures indicated a rebound Thursday morning following a significant sell-off triggered by the Federal Reserve's latest interest rate decision. Futures tied to the S&P 500 rose by 0.5%, while those for the tech-heavy Nasdaq climbed 0.6%. The Dow Jones Industrial Average futures also saw a 0.5% increase.

The Federal Reserve's decision to scale back the number of anticipated rate cuts next year to two, coupled with Chair Jerome Powell's cautious remarks, led markets to interpret the move as a "hawkish cut," resulting in steep declines for the S&P 500 and Nasdaq. The Dow, meanwhile, is experiencing its longest losing streak in 50 years.

Despite the recent downturn, the Dow remains up over 12% for the year. On the economic front, the third estimate for third-quarter U.S. GDP showed a growth rate of 3.1%, surpassing earlier estimates. Additionally, weekly unemployment claims fell to 220,000, down from 242,000 the previous week.

Investors are now closely watching the market's response to these developments, hoping for a rebound in the coming days.




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