Wall Street climbed sharply on Monday, with Nvidia up 5.8% and Palantir 8.8%, as artificial intelligence (AI) stocks rebound and progress in Congress raises hopes of ending the U.S. government shutdown.
The Senate cleared an initial hurdle late Sunday on a compromise to restore federal funding, though final approval from Congress remains uncertain.
“The government shutdown lasted longer than expected. There were concerns about the economy, potential flight disruptions, and broader impacts,” said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Tech Stocks Lead the Rebound
Heavyweight tech companies recovered from recent losses. The S&P 500 technology sector index had fallen 4.2% last week. Nvidia, the world’s most valuable company, rose 5.8%, while AI analytics firm Palantir jumped 8.8%. Tesla added 3.7%.
Ross Mayfield, investment strategy analyst at Baird, said, “This is a rebound after being slightly oversold last week. The 'buy the dip' approach is acting quickly in the tech and AI space. Earnings in this sector have been strong.”
Overall, the S&P 500 climbed 1.54% to 6,832.43 points, the Nasdaq gained 2.27% to 23,527.17 points — its largest one-day percentage gain since May 27 — and the Dow Jones Industrial Average rose 0.81% to 47,368.63 points.
The small-cap Russell 2000 added 0.9%, while the PHLX semiconductor index jumped 3%. Trading volume was relatively light at 17.9 billion shares, compared with a 20-session average of 20.8 billion. Airlines Face Pressure
Airlines were under pressure as flight cuts and air traffic controller shortages continued to disrupt travel. United Airlines fell 1.3%, and American Airlines declined 2.5%. Betting website Polymarket indicated an 88% probability that the shutdown would end this week.
The historic shutdown has left gaps in federal economic data, forcing markets and the Federal Reserve to rely on private indicators, providing a mixed picture. Some Fed officials reiterated caution ahead of upcoming monetary policy decisions, while Fed Governor Stephen Miran called for a significant rate cut. AI Optimism and Earnings Season
The AI sector has fuelled a broader bull run in U.S. stocks this year, though monetisation concerns and internal spending previously triggered a market sell-off. Last week, the Nasdaq recorded its worst performance in more than seven months.
Third-quarter earnings season is nearly complete, with 83% of the 446 S&P 500 companies reporting results exceeding expectations, according to LSEG data.
Health insurer stocks fell after the Senate’s shutdown deal excluded extensions for Affordable Care Act subsidies, pushing the issue to a December vote. Centene dropped 8.8%, Humana fell 5.4%, and Elevance Health declined 4.4%.
Metsera plunged 14.8% after Pfizer won a $10 billion bidding war to acquire the company, while Eli Lilly rose 4.6% to a record high following a Leerink Partners upgrade.
Advancing stocks outnumbered decliners in the S&P 500 by a 1.7-to-1 ratio. The S&P 500 recorded 32 new highs and 8 new lows, while the Nasdaq saw 106 new highs and 128 new lows.
Iranian President Masoud Pezeshkian has accused the U.S. and Israel of seeking to foment internal divisions in Iran after failing to defeat the cou...
China has announced plans to complete the world's first AI-driven geological map of Mars by the end of 2028, a project that aims to reconstruct...
A 13-month-old Chihuahua named Comando is helping Mexico’s National Guard connect with the public, becoming its smallest canine member and an...
A Russian guided aerial bomb has struck an apartment building in Kharkiv, injuring 22 people, including children, according to the city’s mayor. The strike follows a day of near-continuous Russian attacks across Ukraine that killed at least five people.
Here's your AnewZ Daily Brief for 28 September 2026. These are the top stories making headlines in technology.
Saudi Foreign Minister Prince Faisal bin Farhan has arrived in Washington for talks with U.S. Secretary of State Marco Rubio on bilateral ties and key regional and international developments, Saudi state news agency SPA reported.
U.S. President Donald Trump has denied reports that he offered Iran sanctions relief and access to frozen funds in exchange for nuclear concessions.
The European Union's decision to simultaneously advance accession talks with Ukraine, Moldova, Montenegro and Albania marks its most ambitious enlargement effort in more than two decades.
In the marshlands of Malluba in southern Azerbaijan, Kamil Mammadov follows a routine that has been passed down through generations. His family has worked with medicinal leeches for centuries, harvesting and breeding a species known as Hirudo orientalis, or the Caucasian medicinal leech.
Baku is hosting the second Azerbaijan International Investment Forum (AIIF 2026) and it’s attracting more interest this year, Azerbaijan’s Deputy Prime Minister told AnewZ. “The agenda is very impressive. More guests, more interest,” he said.
Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking the end of one of the most influential leadership tenures in corporate history and completing a succession process that has been years in the making.
Nigerian billionaire Aliko Dangote launched Africa's biggest-ever share sale on Monday, opening the oil refinery that has remade the country's fuel market to public ownership for the first time.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment