Dow Futures experienced a significant increase on Monday following the Senate’s approval of a bill designed to resolve the protracted government shutdown, which also led to upward movements in gold and crude oil prices. The COP30 climate conference is set to commence later in the session, while Pfizer has emerged victorious in the competitive bidding for the obesity drug developer Metsera.

Dramatic progress was achieved over the weekend in efforts to conclude the U.S. government shutdown, which has reached unprecedented lengths, following a late-Sunday vote by lawmakers to advance a bill aimed at this objective. The Senate conducted a test vote, resulting in a 60-40 outcome in favor of advancing legislation aimed at funding the government through at least January 30, 2026. This development saw the backing of eight Democrat senators for a Republican proposal, which includes a commitment to a subsequent vote on the extension of specific healthcare subsidies and guarantees for the reinstatement of federal workers dismissed during the shutdown. The Senate is required to conduct a final vote on the spending bill, which will subsequently be reviewed by the House of Representatives before receiving presidential approval from Donald Trump. Sunday’s vote signifies a tangible advancement in the efforts to conclude the shutdown, which reached its 40th day on Sunday. The current shutdown marks the 15th occurrence since 1981 and the second during President Donald Trump’s administration, with projections indicating a loss of tens of billions of dollars in gross domestic product.

Dow Futures experienced a significant increase on Monday following a pivotal move by Senate lawmakers over the weekend, which could lead to the conclusion of the nation’s longest government shutdown. At 03:00, the futures traded 50 points, or 0.7% higher; futures climbed 325 points, or 1.3%; and Dow futures rose 105 points, or 0.2%. The Senate has progressed a bill designed to finance the government until January 30, following the intervention of eight Democrats who sought to resolve the deadlock. Should the Senate ultimately approve the revised bill, it will still require the endorsement of the House of Representatives before being forwarded to President Donald Trump for his signature, a procedure that may extend over several days. Concerns regarding the potential economic ramifications of the shutdown led to a decline in U.S. consumer sentiment, which fell to its lowest point in nearly 3-1/2 years in early November. In an interview, White House economic adviser Kevin Hassett indicated that a prolonged shutdown could lead to a contraction in the U.S. economy during the fourth quarter. The market experienced its most significant decline since April, with a loss of 3%, while the S&P 500 fell by 1.6% and another index decreased by 1.2% over the past week.

The COP30 global climate summit commences on Monday in Belem, a Brazilian city selected for its significant rainforest setting at the confluence of the Amazon. The assembly commemorates thirty years since the inception of international climate negotiations, culminating in the 1992 U.N. climate treaty. This commitment bound nations to collaborate in addressing climate change – a challenge recognized by all as one that is most effectively confronted collectively. Nevertheless, although nations have managed to somewhat mitigate the rise in carbon emissions, these efforts have proven insufficient to avert what scientists deem extreme climate change in the forthcoming decades. Given these circumstances, the conference is likely to be fraught with contention, particularly as the Trump administration has opted not to dispatch any senior officials and has declared its plan to exit the treaty.

Pfizer has secured a $10 billion agreement for obesity drug developer Metsera, concluding an intense bidding competition in the biotech sector between the New York-based pharmaceutical leader and its Danish competitor. Metsera accepted an enhanced proposal from Pfizer late on Friday, referencing U.S. antitrust concerns regarding Novo’s bid, which it had previously deemed superior. The Danish obesity drug giant announced on Saturday its decision to withdraw from the competition. This provides Pfizer with an entry point into the profitable obesity drug sector, despite the fact that Metsera’s therapies are still several years away from market availability. This represents a setback for Novo as it endeavors to regain lost market share against its U.S. competitor. The competitive bidding between Pfizer and Novo has escalated the price from Pfizer’s initial offer of $7.3 billion in September, as the U.S. firm seeks to penetrate a market that analysts project could reach $150 billion by the beginning of the next decade.

Gold prices experienced a significant increase, surpassing the notable $4,000 per ounce threshold, attributed to a decline in the dollar’s strength, as market expectations lean towards a potential interest rate cut by the Federal Reserve in December. Spot gold experienced an increase of 1.9%, reaching $4,077.00 per ounce, while gold futures also rose by 1.9%, settling at $4,085.65 per ounce. Market participants appeared to sustain their expectations that the Federal Reserve will implement a 25 basis point reduction in interest rates come December, particularly in light of a series of disappointing private sector indicators regarding the labor market from the previous week. Oil prices increased on Monday amid optimism regarding the imminent conclusion of the U.S. government shutdown, which could enhance demand in the world’s leading oil consumer. Prices gained 0.8% to $64.11 a barrel, while U.S. West Texas Intermediate crude futures rose 0.9% to $60.28 a barrel. Both contracts experienced a decline of approximately 2% last week, marking their second consecutive weekly decrease. This followed the decision by the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, to implement a slight increase in output for December while also pausing any further hikes in the first quarter, due to concerns regarding a potential supply glut.