Global Stocks Surge as U.S. Shutdown Nears End

Global markets rallied as the U.S. Congress worked towards ending the federal shutdown, lifting uncertainty over the U.S. economic outlook. European and Asian stocks reached new heights, while U.S. futures indicated a positive opening. The yen hit nine-month lows amid rising optimism among investors.

World stock markets experienced a surge on Wednesday, influenced by developments in the U.S. Congress that signal an end to the federal shutdown. This potential resolution aims to clear lingering uncertainties surrounding the U.S. economic outlook.

Asian and European markets posted strong performances, with European stocks hitting new record highs and Japan's Nikkei index leading the way in Asia. Meanwhile, U.S. stock futures pointed to a positive trajectory on Wall Street. The yen fell to its lowest point in nine months against the dollar, as investors braced for an end to the shutdown.

In the U.S., Congress moved forward with legislative measures to restore government funding, with the House of Representatives set to vote on a compromise deal. This development has alleviated concerns about a potential slowdown in economic growth due to prolonged government closures. Analysts now await key U.S. jobs data, which could influence future Federal Reserve decisions on interest rates.

(With inputs from agencies.)