Wall Street’s main indexes gained 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.”

Most tech stocks jumped, with Nvidia gaining 3.4%, while Alphabet and Amazon.com added 3% each.

Information technology and consumer discretionary stocks were the biggest boosts to the S&P 500 index.

Major Markets Gain

At 09:44 a.m. ET, the Dow Jones Industrial Average rose 283.95 points, or 0.60%, to 47,271.05, the S&P 500 gained 81.91 points, or 1.22%, to 6,810.71 and the Nasdaq Composite gained 451.61 points, or 1.96%, to 23,456.15.

The CBOE Volatility Index eased 1.12 points to 17.96, retreating from a three-week high touched on Friday.

The small-cap Russell 2000 gained 1.4%, while a broader semiconductor index rose 3.1%.

Airlines, which have been facing disruption and government-mandated cuts due to air traffic control staffing shortages, rose on hopes the shutdown would end, with United Airlines and Delta Airlines adding 2.5% each.

White House economic adviser Kevin Hassett said 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%.

Longest Government Shutdown in History

The longest federal shutdown in history has created a data gap for the Federal Reserve and markets alike, leaving them dependent on private data that has given a mixed picture of the economy.

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. The Nasdaq marked its worst performance in over seven months.

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 jumped 10% after the LNG exporter swung to a profit in the third quarter.

Shares of health insurers dropped after the U.S. Senate struck a deal to end the 40-day federal shutdown without extending Affordable Care Act subsidies, setting up a December vote on the issue instead.

Centene fell 9.5% to the bottom of the S&P 500, while Humana and Elevance Health lost 2% each.

Metsera slumped 15.6% after Pfizer won a $10 billion bidding war to acquire the company.

Advancing issues outnumbered decliners by a 2.44-to-1 ratio on the NYSE and by a 2.84-to-1 ratio on the Nasdaq.

The S&P 500 posted 15 new 52-week highs and 3 new lows while the Nasdaq Composite recorded 57 new highs and 45 new lows.

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(Reporting by Twesha Dikshit and Purvi Agarwal in Bengaluru; Editing by Saumyadeb Chakrabarty, Krishna Chandra Eluri and Maju Samuel)