According to CCTV International News, on the evening of November 12 local time, U.S. President Trump signed a bill at the White House, officially ending the longest government &#34;shutdown&#34; in U.S. history. Following the news, global stock markets continued to rise, nearing historical highs.
U.S. stock futures regained earlier losses, with S&amp;P 500 index futures recording an increase, European stock market futures indicating new historical highs, and Asian stock markets also closing higher. Meanwhile, expectations that the Federal Reserve may cut interest rates once the government resumes operations supported gold prices, which rose for the fifth consecutive day.
However, investors' attention is quickly shifting from the political deadlock in Washington to a larger source of uncertainty: the key economic data delayed due to the shutdown and how this data will affect the Federal Reserve's future interest rate path.
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<li>U.S. stock futures regained earlier losses, with Nasdaq 100 index futures turning up 0.3%. S&amp;P 500 index futures rose 0.2%.</li>
<li>European Stoxx 50 index futures rose 0.3%.</li>
<li>The Nikkei 225 index closed up 0.4%, at 51,281.83 points. The Tokyo Stock Exchange index closed up 0.7%, at 3,381.72 points.</li>
<li>The yield on 10-year U.S. Treasury bonds rose two basis points to 4.09%.</li>
<li>The yield on 10-year Japanese government bonds remained largely unchanged at 1.690%.</li>
<li>The U.S. dollar spot index remained largely unchanged.</li>
<li>The euro exchange rate remained largely unchanged, at 1.1584 U.S. dollars.</li>
<li>The yen to U.S. dollar exchange rate remained largely unchanged, at 154.91.</li>
<li>Onshore and offshore renminbi both broke through the 7.1 mark against the U.S. dollar.</li>
<li>Bitcoin rose 1.6% to 103,495.42 U.S. dollars.</li>
<li>Spot gold broke through 4,220 U.S. dollars per ounce, the first time since October 21, with an intraday increase of 0.61%.</li>
<li>Oil prices stabilized after experiencing the largest single-day drop since June. West Texas Intermediate (WTI) crude oil prices hovered around 58 U.S. dollars.</li>
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<h2>Data &#34;fog&#34; shrouds the market, investors await clarity on economic outlook</h2>
The long-term shutdown of the U.S. government not only disrupted public services but also created a huge economic &#34;data vacuum,&#34; which has become the primary challenge facing investors and decision-makers. The White House has confirmed that due to the shutdown, key indicators, including employment data and the October Consumer Price Index (CPI), are unlikely to be released on time.
&#34;While the market is digesting the news of the end of the government shutdown, we still have a bigger mountain to climb, which is the recovery of all the economic data we missed.&#34; Michael Landsberg of Landsberg Bennett Private Wealth Management stated, &#34;When the fog clears, we will be able to see whether the current market pricing is correct, whether the road ahead is still smooth, or whether a major repricing is needed.&#34;
Seema Shah of Principal Asset Management also noted that the real challenge is not the short-term drag on economic growth caused by the shutdown, but rather the increasing difficulty for investors and the Federal Reserve to assess the economic outlook due to the lack of data
In addition, some analysts warn that political risks have not been completely eliminated. Jim Bianco, founder of Bianco Research, stated that the signed bill is a &#34;continuing resolution,&#34; suggesting that we may return to square one in February next year, indicating that the two parties may again face a funding deadlock.
Spot gold has broken through $4,220 per ounce for the first time since October 21, rising 0.61% during the day.
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<h2>Rate cut expectations support risk assets, but Fed officials express caution</h2>
Against the backdrop of missing data, the market is pinning hopes on the Federal Reserve's easing policies. Many investors expect that once economic data resumes publication, it may strengthen the Fed's rationale for a rate cut in December, thereby providing new upward momentum for the market.
Seema Shah believes that &#34;as data publication resumes, the rationale for a December rate cut should re-emerge, reinforcing a 'risk-on' backdrop.&#34; She added that this environment is favorable for the U.S. stock market, particularly for large tech stocks and cyclical stocks that would benefit from a more accommodative Fed stance.
However, there is not unanimous agreement within the Fed. Boston Fed President Susan Collins recently stated that she prefers to keep interest rates unchanged. She believes that the current economic growth remains strong, which may slow down or even hinder progress in cooling inflation.
Meanwhile, Atlanta Fed President Raphael Bostic announced that he plans to retire after his current term ends in February next year.
<h2>New developments in trade negotiations, yen and oil markets under pressure</h2>
While investors focus on domestic dynamics in the U.S., key variables in other global markets are also evolving.
There are some positive signals on the trade front. According to insiders, the European Union is preparing to present a plan to the U.S. to implement the next phase of the trade agreement reached this summer. Additionally, Switzerland's senior trade negotiator is heading to Washington with the aim of completing trade agreement negotiations with the U.S.
In the foreign exchange market, the yen has become the focus. Traders are increasingly skeptical about whether the new Japanese government has the capability to support the yen's exchange rate through direct intervention, with the yen currently hovering around 155 against the dollar, close to the level that previously triggered intervention by authorities.
The commodities market is showing mixed performance. Oil prices stabilized after experiencing the largest single-day drop since June. Previously, the Organization of the Petroleum Exporting Countries (OPEC) indicated that the timing of oil supply exceeding demand is earlier than expected. Brent crude oil prices fell nearly 4% in the previous trading day, heading towards $62 per barrel, while West Texas Intermediate (WTI) prices hovered around $58. As a result, energy stocks in Australia experienced declines.
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The U.S. Congress passed a temporary funding bill, and U.S. stock futures recovered earlier losses, with Nasdaq futures turning up 0.3% and S&P futures rising 0.2%. Spot gold broke through $4,220 per ounce, the first time since October 21, with an intraday increase of 0.61%. Oil prices stabilized after experiencing the largest single-day drop since June. However, the economic data "vacuum" caused by the prolonged shutdown leaves the outlook still uncertain

The U.S. government ends the shutdown, U.S. stock futures rise, spot gold breaks above $4,220, and crude oil stabilizes