The FTSE 100 (^FTSE) rose to fresh record highs on Wednesday, with European stocks also climbing, as the US government shutdown nears an end and new jobs data boosted the chances of a third successive interest rate cut from the Federal Reserve.

After passing the Senate, a spending bill to reopen the US government is due before the House of Representatives and then Donald Trump, with hopes that services can resume as soon as Friday.

The House is expected to vote on the bill to keep most of the government open until 30 January and some agencies until 30 September next year.

In a Veterans Day speech at Arlington National Cemetery on Tuesday, Trump said: “We’re opening up our country — it should have never been closed.”

He later told ESPN: “Only people that hate our country want to see it not open,”

Jim Reid at Deutsche Bank said: “At this stage who knows whether we’ll see a mini version of what we’ve been through over the last 43 days as the end of January approaches, but that’s a topic for another day.”

  • London’s benchmark index (^FTSE) was 0.2% higher in early trade, bringing the 10,000-point mark into sight

  • Germany’s DAX (^GDAXI) rose 1% and the CAC (^FCHI) in Paris headed 0.8% into the green

  • The pan-European STOXX 600 (^STOXX) was up 0.5%

  • Wall Street is set for a positive start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the green despite ongoing worries about elevated tech valuations

  • The pound was flat against the US dollar (GBPUSD=X) at 1.3151

FTSE Index – Delayed Quote • USD

As of 8:54:45 GMT. Market open.

Follow along for live updates throughout the day:

LIVE 2 updates

  • Asia and US overnight

    Stocks in Asia were mostly higher overnight, with the Nikkei (^N225) rising 0.4% on the day in Japan, while the Hang Seng (^HSI) up 0.9% in Hong Kong, led by technology stocks, and reaching a level not seen in over a month.

    The Shanghai Composite (000001.SS) was 0.1% down by the end of the session and in South Korea, the Kospi (^KS11) added 1.1% on the day.

    Across the pond on Wall Street, US markets struggled for much of the day following the euphoria of the government shutdown ending over the previous 36 hours.

    The S&P 500 (^GSPC) rose 0.2%, and the tech-heavy Nasdaq (^IXIC) was 0.3% lower. The Dow Jones (^DJI) gained 1.2% on what was otherwise a quiet day due to the Veterans Day holiday, which kept the US bond market shut.

    Osaka – Delayed Quote • USD

    51,063.31

    +220.38

    +(0.43%)

    At close: 15:45:03 GMT+9

  • Coming up

    Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what’s moving markets, and all that’s happening across the global economy.

    To the day ahead we have data releases including Germany’s September current account balance, Italy’s September industrial production, and Canada’s September building permits.

    From central banks, we’ll also hear from the Fed’s Barr, Williams, Waller, Miran, Paulson and Bostic, the ECB’s Schnabel and de Guindos, and the BoE’s Pill. Finally, earnings include Cisco and TransDigm.

    Here’s a snapshot of what’s on the agenda:

    • 7am: Trading updates: Experian, Flutter Entertainment, SSE, BAE Systems, Taylor Wimpey, ICG, Marshalls, Volex, Fuller Smith & Turner, Motorpoint, Avon Technologies, WH Smith

    • 7am: German inflation report for October

    • 12pm: US weekly mortgage approval data

    • 2.15pm: Treasury Committee hearing on property taxes ahead of the budget

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