(NEW YORK) -- Stocks rose in early trading on Monday after the Senate voted hours earlier to advance a potential deal on the government shutdown, which has weighed on economic output and cast uncertainty over markets for well over a month.
Lawmakers in a rare Sunday session cleared a key hurdle toward potentially reopening the government by advancing a short-term funding bill by a razor-thin vote of 60-40, just meeting the threshold for it to pass.
A potential resolution of the government shutdown would restore jobs and backpay for thousands of federal employees, which is expected to provide a jolt for the U.S. economy.
The federal government would also resume the collection and release of key government day in the event of shutdown deal, allowing investors to observe monthly inflation and hiring reports.
The Federal Reserve is set to issue a decision on the level of interest rates early next month. The central bank has slashed interest rates a quarter of a percentage point at each of its last two meetings.