U.S. stocks jumped Monday as an end to the government shutdown came into sight.

The S&P 500 gained 1%, or 67 points, to open near 6,796, while the Dow Jones Industrial Average was up 0.5%, adding 233 points to start trading near 47,220. The tech-laden Nasdaq Composite jumped 1.6%, up 364 points to near 23,369.

Market enthusiasm came after the Senate voted 60-40 late on Nov. 9 to advance legislation to end the shutdown. Eight Democratic senators relented on long-held demands over health care policy and joined 52 Republicans to end the filibuster blocking the measure.

Reopening the government isn’t a done deal. The Senate is set to reconvene at 11 a.m. ET. Then the House must vote again before sending the bill to President Donald Trump.

And companies with ties to the federal government have taken some hits.

On an earnings call in late October, defense contractor General Dynamics said it was managing uncertain cash flow with short-term borrowing. CEO Phebe Novakovic told analysts that "the longer (the shutdown) lasts, the more it will impact us, particularly the shorter cycle businesses. Forecasts in this environment are difficult at best and less reliable than one would hope."

Still, U.S. industry has weathered Washington's ups and downs this year − most notably uncertainty about tariffs − better than many observers had expected. The percentage of S&P 500 companies reporting positive earnings surprises is above the 10-year average, according to an analysis from FactSet, while the magnitude of earnings surprises is equal to the 10-year average.

And on Nov. 9, analysts at Goldman Sachs weighed in on continued strong gains for stocks related to AI.

"Our equity strategists have argued that, although valuations are high, we are not yet clearly in bubble territory," the group wrote, adding "there is nothing to stop markets from building in more upside. Indeed, a lesson of past bubbles is that investors may sacrifice considerable gains by stepping away too early, given that prices can rise well beyond fundamental value."

This story has been updated to add new information.

This article originally appeared on USA TODAY: Stocks surge Monday morning on hope of government shutdown ending

Reporting by Andrea Riquier, USA TODAY / USA TODAY

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