All articles tagged with #us shutdown
Gold rises above $5,100 an ounce and silver hits a new high as tariff tensions and the possibility of a US government shutdown spark safe-haven demand; the live coverage also notes European stocks mixed ahead of the Fed meeting, ongoing EU probe into Elon Musk's Grok AI, Ryanair openness to Starlink, Spire Healthcare talks with buyout firms, and oil prices steady on OPEC+ plans.
The US government shutdown continues as Senate Republicans reject Democrats' offer for a one-year extension of health care subsidies, leading to disruptions in air travel and delays in food aid, with ongoing political stalemate and negotiations.
Two US federal judges have ruled that the Trump administration must continue paying SNAP food benefits during the government shutdown, using emergency funds, despite the USDA's initial plans to halt distribution due to lack of funding. The courts emphasized that Congress intended for SNAP benefits to be funded even during funding lapses, and the administration was directed to report on whether it will pay full or reduced benefits. The decision is a critical lifeline for over 40 million Americans relying on food assistance amid ongoing political stalemate.
Asian stocks are set for weekly gains driven by expectations of Federal Reserve rate cuts, amid a US government shutdown that has had limited market impact. Investors focus on potential monetary easing, with markets also reacting to a strong AI-driven tech sector and a weaker US dollar, while gold remains near record highs as a safe haven.
Gold prices surged past $3,800 an ounce amid concerns over a potential US government shutdown, causing market volatility and highlighting economic uncertainty.
U.S. House Speaker Kevin McCarthy faces a crucial test as he tries to rally his fractured Republican caucus to avoid a government shutdown by passing spending legislation before September 30. Hardline activism on spending, policy, and impeachment has divided Republicans in the House and slowed progress in the Senate. McCarthy hopes to move forward on a defense appropriations bill this week, but faces opposition from hardliners demanding lower spending levels. A short-term stopgap spending bill has been proposed, but it is uncertain if it will garner enough support. McCarthy's decision to open an impeachment inquiry of President Biden has also complicated negotiations with Democrats. Failure to reach an agreement could lead to a government shutdown and jeopardize McCarthy's speakership.