House Members Dash to Washington Ahead of Key Vote
Members of the House of Representatives are reportedly returning to Washington with a vote expected as early as Wednesday, November 12. If the Republican-controlled House approves the bill, it would make its way to President Trump’s desk, potentially reopening the government on Friday, November 14.
CN Wire reported on the developments in Washington, stating:
“The record 41-day US government shutdown is set to end after the Senate passed a temporary funding bill in a 60-40 vote on Monday, with the House expected to approve it soon. The measure, endorsed by President Donald Trump, funds most government agencies through Jan. 30 and some through Sept. 30, while guaranteeing back pay for federal workers and preventing layoffs.”
With the Senate’s approval secured, attention now turns to the House of Representatives, where a swift vote could end the record shutdown.
Economic Fallout from the Shutdown
As market focus shifts to the House, economists will likely consider the economic fallout from the prolonged shutdown. Consumer sentiment waned in November, with the Michigan Consumer Sentiment Index falling from 53.6 in October to 50.3 in November.
Nevertheless, sentiment may receive an initial boost if the House approves the measure and corporate earnings exceed expectations. Key earnings include Cisco Systems (CSCO) and The Walt Disney Company (DIS). However, AI-related company results will also face scrutiny following recent concerns about valuations.