Bonds & Stocks
Stocks headed toward their longest streak of weekly gains since July amid subdued bond-market volatility and speculation the Federal Reserve will end its hiking cycle to prevent a recession. S&P 500 futures signaled the benchmark gauge will rise for a fourth straight day. Piles of derivatives contracts tied to stocks and indexes will mature Friday — which could amplify swings. Ten-year yields were little changed around 4.4%. The dollar fell. Oil rebounded after sinking into a bear market.
Economy
President Joe Biden signed a stopgap bill to extend government funding into early 2024, averting a government shutdown for now but kicking a politically-divisive debate over federal spending into a presidential election year. The White House confirmed the move in a statement early Friday morning in Washington, less than a day before existing funding would have expired. Biden — in California for a summit of APEC leaders — signed the legislation on Thursday, according to the statement.
World
In the southern city of Khan Younis in Gaza, people reported that Israel had dropped leaflets telling them to flee to “known shelters.” That’s raising concerns the military may expand its battle against Hamas, designated a terrorist organization by the US and European Union, outside the north of Gaza, where it’s focused its ground assault so far.