Wall Street climbed sharply on Monday, with Nvidia up 5.8% and Palantir 8.8%, as AI stocks rebound and progress in Congress raises hopes of ending the U.S. government shutdown.
Wall Street ended sharply higher on Monday, led by gains in AI-focused stocks such as Nvidia and Palantir, following progress in Congress toward ending the record-long federal 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 (NVDA.O), the world’s most valuable company, rose 5.8%, while AI analytics firm Palantir (PLTR.O) jumped 8.8%. Tesla (TSLA.O) added 3.7%.
Ross Mayfield, investment strategy analyst at Baird, noted: “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 (UAL.O) fell 1.3%, and American Airlines (AAL.O) 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 fueled a broader bull run in U.S. stocks this year, though monetization 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 (CNC.N) dropped 8.8%, Humana (HUM.N) fell 5.4%, and Elevance Health (ELV.N) declined 4.4%.
Metsera (MTSR.O) plunged 14.8% after Pfizer won a $10 billion bidding war to acquire the company, while Eli Lilly (LLY.N) 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.
Wall Street climbed sharply on Monday, with Nvidia up 5.8% and Palantir 8.8%, as AI stocks rebound and progress in Congress raises hopes of ending the...
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Number of reported hate crimes has risen steadily each year since around 2020, according to Police University College. Finland has seen a record number of hate crimes so far in 2025, with nearly 70% of the crime reports filed motivated by the victims' ethnic or national background.
Ukraine's anti-corruption bureau is investigating a massive $100 million kickback scheme linked to the state nuclear power company Energoatom. The scandal comes amid ongoing Russian bombardment of Ukraine's power infrastructure and rising political tensions at home.
Visa and Mastercard announce a $38 billion settlement with merchants over high swipe fees, including fee reductions, surcharges options, and eight-year caps on standard consumer cards, resolving a 20-year antitrust battle.
U.S. President Donald Trump ordered air traffic controllers back to work amid record flight cancellations and delays during the 41-day federal government shutdown, warning penalties for absences and promising rewards for those who stayed on duty.
Billionaire Jeff Bezos’s Blue Origin has launched NASA’s twin ESCAPADE satellites to Mars on Sunday, marking the second flight of its New Glenn rocket, a mission seen as a crucial test of the company’s reusability ambitions and a fresh challenge to Elon Musk’s SpaceX.
Elon Musk’s bold vision for the future of technology doesn’t stop at reshaping space exploration or electric cars. The Neuralink brain-chip technology he introduced in 2020 could mark the end of smartphones as we know them, and his recent statements amplify this futuristic idea.
Two trains crashed in Slovakia on Sunday evening after one ran into the back of the other, injuring dozens of passengers, police and the country's interior minister said.
Real Madrid, top of LaLiga, is determined to bounce back from their midweek Champions League loss against Liverpool as they face local rivals Rayo Vallecano. Coach Xabi Alonso insists the team is focused on finishing strong before the international break.
China has announced exemptions to its export controls on Nexperia chips intended for civilian use, the commerce ministry said on Sunday, a move aimed at easing supply shortages affecting carmakers and automotive suppliers.
Visa and Mastercard announce a $38 billion settlement with merchants over high swipe fees, including fee reductions, surcharges options, and eight-year caps on standard consumer cards, resolving a 20-year antitrust battle.
Despite promises of recovery from the new government, Germany’s economy continues to stagnate, with no signs of renewed momentum. According to the latest report from the German Chamber of Industry and Commerce (DIHK), the country still lacks the drive needed for a genuine economic rebound.
Türkiye’s benchmark BIST 100 index ended Thursday up 0.94%, closing at 11,073.27 points. Opening the day at 11,029.29, the index gained 102.9 points compared with the previous close.
Dutch smartphone maker Fairphone is entering the U.S. market, betting on growing demand for repairable and sustainable devices as right-to-repair legislation gains traction, according to Reuters.
Premier Li Qiang said on Wednesday that China's economy will exceed 170 trillion yuan ($23.87 trillion) by 2030, presenting a big market opportunity for the world as trade restrictions rise globally.
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