US Stocks Rise as Shutdown Nears End; Buffett to "Go Quiet"

Market Performance and Economic Outlook

• 📈 The S&P 500 gained 104 points, the NASDAQ rose 523 points, and the Dow increased by 381 points.
• 📊 The ten-year Treasury yield stood at 4.11%, and the two-year yield was at 3.58%.
• 💡 St. Louis Fed President Alberto Musalem noted the U.S. economy's resilience but urged caution, with a 250 basis point decline in the real federal funds rate over the past year.
• ⚠️ San Francisco Fed President Mary Daly emphasized the need for the Fed to avoid holding rates too long, closely monitoring inflation.

Government Shutdown Resolution Efforts

• 🏛️ Traders are betting that the U.S. government shutdown may end within days, with House Speaker Mike Johnson urging a swift return to Capitol Hill to vote on a continuing resolution.
• 🤝 The White House expressed support for a bipartisan deal, making a government reopening likely by the end of the week.
• ✈️ Despite potential reopening, flight disruptions and food aid delays are ongoing, with President Trump urging air traffic controllers to return to work and offering bonuses.
• 🍎 The Trump administration is asking the Supreme Court to keep full food aid payments on hold during the shutdown.

Warren Buffett's Transition

• 🤫 Warren Buffett, at 95 years old, announced he will no longer write Berkshire Hathaway's annual report or speak at its shareholder meetings.
• 💼 He plans to step down as CEO of Berkshire Hathaway at the end of the year.
• 💰 Buffett is donating over $3.7 billion of Berkshire Hathaway shares to four family foundations.

Supreme Court Decisions

• ⚖️ The Supreme Court will not reconsider its 2015 decision legalizing same-sex marriage, leaving intact a jury finding against former Kentucky county clerk Kim Davis.
• 🗳️ The Supreme Court will decide whether states can count late-arriving mail ballots, with a ruling expected by late June 2026.