US close: Stocks bounce back strongly as shutdown fears recede
By Benjamin Chiou
Date: Monday 10 Nov 2025
(Sharecast News) - US stocks surged on Monday on the back of hopes that the longest government shutdown in American history could soon come to an end, lighting a fire under tech stocks which have hammered last week.
"After a hellish week that looked as if markets were poised for a sharp fall amid growing concerns about an AI bubble, a major event turned sentiment on its head and restarted the party. Stock markets had a spring in their step as investors could see a pathway out of the US government shutdown," says Dan Coatsworth, head of markets at AJ Bell.
The Dow finished 0.8% higher at 47,368.83, erasing its entire loss last week, while the S&P 500 gained 1.5% to 6,832.43 after dropping 1.7% over the preceding five sessions.
The tech-heavy Nasdaq, meanwhile, finished Monday's session up 2.3% at 23,527.17. The benchmark dropped 3.7% last week - its worst weekly performance since April - on the back of concerns about stretched valuations in the AI and chip sectors,
"A risk-on mood saw investors pile into tech stocks and take advantage of last week's pullback which effectively acted as 'money off' sale for the sector. Just like you might expect when a retailer slashes prices to shift goods, investors' interest was piqued by last week's tech sell-off and bargain hunters were out in force," Coatsworth said.
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, with markets on Friday missing out on a non-farm payrolls report for the second straight month. Meanwhile, 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.
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.
Tech titans surge
Tech stocks were rising strongly on Monday, with all of the Magnificent Seven giants - Alphabet, Amazon, Apple, Tesla, Meta Platforms, Microsoft and NVIDIA - making solid gains giving the Nasdaq a huge boost. Other blue chips in the sector were also performing well, including Palantir and AMD.
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 rose early on but fell into the red by the close amid ongoing shutdown fears, with American, United and Delta on the descent. 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.
Shares in Galecto more than trebled in price after the biotech company finalised its acquisition of Damora Therapeutics and secured $285m in an oversubscribed share placing, providing it with enough cash until 2029.
Another high riser was Movano, jumping around 150% after an all-stock merger with cloud computing outfit Corvex.
Dow Jones - Risers
Amgen Inc. (AMGN) $323.66 1.89%
3M Co. (MMM) $168.73 1.72%
Goldman Sachs Group Inc. (GS) $799.74 1.38%
Caterpillar Inc. (CAT) $573.62 1.38%
Walt Disney Co. (DIS) $112.27 1.35%
Cisco Systems Inc. (CSCO) $72.09 1.26%
Johnson & Johnson (JNJ) $187.32 0.99%
Travelers Company Inc. (TRV) $282.30 0.92%
International Business Machines Corporation (CDI) (IBM) $307.30 0.90%
JP Morgan Chase & Co. (JPM) $317.55 0.85%
Dow Jones - Fallers
Procter & Gamble Co. (PG) $144.92 -1.01%
Dow Chemical Co. (DOW) $22.08 -0.85%
Unitedhealth Group Inc. (UNH) $318.52 -0.81%
Nike Inc. (NKE) $60.71 -0.47%
Verizon Communications Inc. (VZ) $39.72 -0.45%
Visa Inc. (V) $335.20 -0.35%
McDonald's Corp. (MCD) $297.58 -0.19%
Home Depot Inc. (HD) $368.10 -0.18%
American Express Co. (AXP) $368.13 -0.18%
Walmart Inc. (WMT) $102.23 -0.17%
S&P 500 - Risers
Akamai Technologies Inc. (AKAM) $87.81 11.95%
Micron Technology Inc. (MU) $253.30 10.71%
Nvidia Corp. (NVDA) $199.05 9.10%
Advanced Micro Devices Inc. (AMD) $243.98 7.01%
Albemarle Corp. (ALB) $103.79 6.59%
Newmont Corporation (NEM) $88.41 5.84%
Expedia Group Inc. (EXPE) $268.04 5.66%
Kohls Corp. (KSS) $18.23 5.29%
Wynn Resorts Ltd. (WYNN) $129.40 4.82%
Rockwell Automation Inc. (ROK) $390.70 4.75%
S&P 500 - Fallers
Centene Corp. (CNC) $34.46 -8.81%
Humana Inc. (HUM) $241.34 -5.40%
Coty Inc. Class A (COTY) $3.58 -5.33%
Ball Corp (BALL) $46.42 -5.25%
Elevance Health Inc. (ELV) $304.16 -4.41%
H&R Block Inc. (HRB) $47.73 -3.93%
Under Armour Inc. Class A (UAA) $4.47 -3.86%
HP Inc (HPQ) $25.42 -3.77%
Under Armour, Inc. (UA) $4.29 -3.60%
Sl Green Realty Corp. (SLG) $50.87 -3.47%
Nasdaq 100 - Risers
Micron Technology Inc. (MU) $253.30 10.71%
Qvc Group Inc Series A (QVCGA) $6.47 9.39%
Nvidia Corp. (NVDA) $199.05 9.10%
Baidu Inc. (BIDU) $132.32 5.82%
Expedia Group Inc. (EXPE) $268.04 5.66%
Wynn Resorts Ltd. (WYNN) $129.40 4.82%
Gen Digital Inc. (GEN) $26.35 4.69%
eBay Inc. (EBAY) $85.18 4.31%
Tesla Inc (TSLA) $445.23 4.29%
KLA-Tencor Corp. (KLAC) $1,217.95 4.20%
Nasdaq 100 - Fallers
Take-Two Interactive Software Inc. (TTWO) $234.06 -2.02%
Mondelez International Inc. (MDLZ) $56.25 -1.57%
Verisk Analytics Inc. (VRSK) $212.94 -1.20%
Monster Beverage Corp (MNST) $70.03 -0.81%
Paychex Inc. (PAYX) $111.48 -0.77%
Idexx Laboratories Inc. (IDXX) $709.59 -0.73%
Cintas Corp. (CTAS) $185.25 -0.63%
QUALCOMM Inc. (QCOM) $171.57 -0.35%
CSX Corp. (CSX) $35.12 -0.10%
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