What to know this week
Investors this week are set to closely monitor developments in Washington, D.C., as lawmakers race to pass legislation to avoid a government shutdown by the end of the month and debate raising the debt ceiling. Elsewhere, economic data on consumer confidence is also due for release.
The Senate is expected to vote Monday on a procedural motion over the legislation passed by the House of Representatives last week. That bill included a plan to temporarily fund the government through early December, and came alongside a measure to raise the government debt ceiling through December 2022.
The latter point has been an area of contention for Senate Republicans, who are only narrowly outnumbered by Democratic lawmakers in both chambers and who have threatened to block the bill in its current form.
Senate Republicans including Minority Leader Mitch McConnell have suggested that Democratic…