US open: Stocks surge on hopes shutdown will soon end
By Benjamin Chiou
Date: Monday 10 Nov 2025
(Sharecast News) - Wall Street stocks were rising strongly in early deals on Monday with strong gains in the tech sector after this weekend's Senate vote that many hope will end the longest government shutdown in American history.
The Dow and S&P 500, which fell 0.8% and 1.7% last week respectively, were up 0.7% and 1.2% by 0939 in New York.
Meanwhile, the Nasdaq was up 1.8%. The tech-heavy benchmark index sank 3.7% last week to its lowest since 23 October on concerns about stretched valuations in the AI and chip sectors.
"Coming off the back of a week that has been dominated by concerns around tech valuations, it appears that investors are happy to instead focus their energy on buying back into the bull market today," said Joshua Mahony, chief market analyst at Scope Markets.
On Sunday, the Senate took a vote on a deal to end the shutdown, with Republicans - who hold a 53-47 majority - clearing the 60-vote minimum threshold through the support of eight votes from Democrat defectors. However, the deal will still need to pass a vote from the House of Representatives before public-sector employees can return to work.
The shutdown - now at 41 days - has caused a governmental data blackout since the start of October, though private consumer confidence figures last week revealed that sentiment had sunk to its lowest in more than three years, closing in on record-low levels.
"Investors are hoping that this Senate breakthrough will see the bill get passed by the House of Representatives later this week, for ultimate sign-off by President Trump. If all goes well, some federal agencies could reopen as soon as Friday," said David Morrison, senior market analyst at Trade Nation.
"Everyone, from traders to the Federal Reserve, have been flying blind since the beginning of October, with a near-complete absence of data covering inflation and the labour market."
Also helping the mood on Monday was the news that China had suspended export restrictions announced last month on certain rare earth minerals and other items, following a meeting between Xi Jinping and Donald Trump on 30 October.
Market movers
Tech stocks were rising strongly, including all Magnificent Seven giants - Alphabet, Amazon, Apple, Tesla, Meta Platforms, Microsoft and NVIDIA - making decent gains shortly after the opening bell.
Even Tesla was in demand despite the news that monthly sales in China sank to their lowest level in three years in October as heightened competition among domestic EV makers continued to sap demand for the American brand. Chinese sales totalled just 26,006 last month, down 35.8% on October 2024, and 63.6% below the 71,525 delivered in September when Tesla launched its Model Y L across the country.
Airlines were also putting in a decent performance on the back of easing shutdown fears, with American, United and Delta ascending higher. The sector has been under pressure over the past week after the Federal Aviation Administration was forced to cancel thousands of flights to relieve pressure on public-sector air traffic controllers who are working without pay.
US-listed shares of drinks giant Diageo surged early on after the London-based company named former Tesco boss Dave Lewis as its new chief executive.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN