*
Futures up: Dow 0.4%, S&P 500 0.9%, Nasdaq 1.5%
*
Metsera ( MTSR ) slumps after Pfizer wins bidding war
*
Health insurers fall after Trump's comments on healthcare
funds
(Updates prices, analyst comment before markets open)
By Twesha Dikshit and Purvi Agarwal
Nov 10 (Reuters) - U.S. indexes were poised to open
higher on Monday following signs of progress in Washington to
end a record government shutdown that has stalled economic data
releases and intensified concerns over the state of the economy.
On Sunday, senators advanced a House-passed bill in a
procedural vote, that will be amended to fund the government
until January 30. If passed in the Senate, it would require
House approval and President Donald Trump's signature, which
could take several days.
"If we do get an end of the shutdown, it would be a
near-term positive ... with positioning cleaner, we could see
some dip buying," said Mohit Kumar, an economist at Jefferies.
"It would also open the path for data releases ... we
should start seeing initial claims data and there should be
sufficient time to collect data for the employment report in
early December."
Wall Street's main indexes ended last week with steep
declines, with the Nasdaq suffering its worst week in
over seven months as worries about the labor market and tech
sector valuations dampened risk appetite.
At 8:32 a.m. ET, Dow E-minis were up 176 points, or
0.37%, S&P 500 E-minis were up 64 points, or 0.95% and
Nasdaq 100 E-minis were up 381.5 points, or 1.52%.
The CBOE Volatility Index eased 0.7 points to 18.38,
retreating from a three-week high touched on Friday.
The longest federal shutdown in history has left both the
Federal Reserve and traders in the dark without official
economic readings and reliant on private economic indicators,
which have provided a mixed picture of the labor market.
The shutdown has also weighed on the economy, with federal
workers going unpaid and White House economic adviser Kevin
Hassett saying in an interview that fourth-quarter U.S. economic
growth could be negative if the closure continues.
On betting website Polymarket, predictions for an end to the
shutdown this week stood at 85%.
Shares of airlines rose on news of flights facing disruption
and government-mandated cuts due to air traffic control staffing
shortages.
United Airlines and Delta Airlines added
2% each.
Most tech stocks were higher in premarket trading, with AI
bellwether Nvidia ( NVDA ) gaining 3.4%, while Alphabet
and Meta Platforms ( META ) added 2.4% and 1.5%,
respectively.
Optimism around artificial intelligence has fueled a bull
run in U.S. stocks this year, but concerns around monetization
and circular spending within the sector drove a bout of selling
in tech stocks last week.
Meanwhile, the third quarter earnings season approached its
conclusion. Of the 446 S&P 500 companies that have reported, 83%
have delivered better-than-expected earnings, according to data
compiled by LSEG.
Venture Global ( VG ) jumped 13% after the LNG exporter
swung to a profit in the third quarter.
Among other stocks, Metsera ( MTSR ) slumped about 15.5%
after Pfizer won a $10 billion bidding war to acquire the
company.
Shares of health insurers dropped after Trump on Saturday
urged Republicans to redirect federal money that currently goes
to health insurance companies under the Affordable Care Act and
send it directly to individuals.
Centene ( CNC ) fell 7.9% and UnitedHealth ( UNH ) lost 2%.