US stocks rose on Monday as investors grew optimistic that the longest government shutdown in US history is nearing its end.

The Senate made tangible progress after Republicans and Democrats reached an agreement on a bill to fund the government through January 30, paving the way to end the record shutdown that began in early October.

AI-related stocks also rebounded, with renewed demand for companies such as Nvidia and Broadcom, despite ongoing warnings about a potential correction on Wall Street.

As of 17:37 GMT, the Dow Jones Industrial Average rose 0.3% (145 points) to 47,133, the SP 500 gained 1.1% (72 points) to 6,800, and the Nasdaq Composite jumped 1.8% (409 points) to 23,417.