Stocks Set to Open Sharply Higher as End to U.S. Government Shutdown Nears

December S&P 500 E-Mini futures (ESZ25) are up +0.92%, and December Nasdaq 100 E-Mini futures (NQZ25) are up +1.39% this morning as optimism that lawmakers are nearing a deal to end the longest government shutdown in U.S. history boosted sentiment.

The Senate overcame a major hurdle in its effort to end the record-long shutdown on Sunday, after Democrats provided enough votes to advance a House-passed bill that will be amended to fund the government through January 30th and include a package of three full-year appropriations bills. The Senate voted 60-40 on the procedural measure to advance the bill, though several other procedural steps still need to be cleared. “It looks like we are getting close to the shutdown ending. You’ll know very soon,” U.S. President Donald Trump told reporters on Sunday.

Once the government reopens, a wave of delayed economic reports is expected to be released, helping to clarify the outlook for interest rates. Analysts said the September jobs report could be among the first to be released.

In Friday’s trading session, Wall Street’s major equity averages closed mixed. Expedia (EXPE) surged over +17% and was the top percentage gainer on the S&P 500 after the online travel agent posted better-than-expected Q3 results and raised its full-year guidance for revenue and gross bookings. Also, Akamai Technologies (AKAM) climbed more than +15% after the content delivery network reported stronger-than-expected Q3 results and issued solid Q4 guidance. In addition, Globus Medical (GMED) jumped over +35% after the orthopedic medical device company posted upbeat Q3 results and lifted its annual guidance. On the bearish side, Take-Two Interactive Software (TTWO) slumped more than -8% and was the top percentage loser on the S&P 500 and Nasdaq 100 after delaying the release of Grand Theft Auto VI again, now scheduled for November 19th, 2026.

Economic data released on Friday showed that the University of Michigan’s preliminary U.S. consumer sentiment index fell to a nearly 3-1/2-year low of 50.3 in November, weaker than expectations of 53.0. Also, the University of Michigan’s U.S. November year-ahead inflation expectations unexpectedly increased to 4.7%, stronger than expectations of no change at 4.6%, while 5-year implied inflation expectations fell to 3.6%, weaker than expectations of 3.8%. The government shutdown dampened the economic outlook, while elevated prices hurt views about personal finances.

“The government shutdown creates further risk because the longer it continues, the more its impact will be felt on Main Street,” said David Russell at TradeStation.

U.S. President Donald Trump’s economic advisor, Kevin Hassett, said on Fox Business last Friday that the shutdown is likely to affect the nation’s gross domestic product growth. “We were thinking that we have at least 3% growth in the fourth quarter. I think now we’re expecting something like half of that,” Hassett said. Also, Treasury Secretary Scott Bessent warned on Sunday that U.S. GDP could be reduced “by as much as half” this quarter if the shutdown drags on. “We’ve seen an impact on the economy from day one, but it’s getting worse and worse,” Bessent said.

It remains unclear how soon the shutdown will end. The Senate has not yet set a date for a final vote, and the measure still needs approval from the House before it can be sent to President Donald Trump for his signature. Also, analysts cautioned that even if the government reopens, the Bureau of Labor Statistics would likely be unable to gather and process data for both the October and November CPI reports ahead of the December FOMC meeting. This comes at a time when the Fed is the most divided in recent memory.

New York Fed President John Williams said in an interview with the Financial Times published Sunday that the next rate decision is “really a balancing act.” While “inflation is high, and it’s not showing signs of coming down right now,” the economy “is showing some resilience,” Williams said.

U.S. rate futures have priced in a 64.7% chance of a 25 basis point rate cut and a 35.3% chance of no rate change at the conclusion of the Fed’s December meeting.

Third-quarter corporate earnings season is winding down, but several notable companies are due to report this week, including Walt Disney (DIS), Applied Materials (AMAT), Cisco (CSCO), and CoreWeave (CRWV). According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +7.2% increase in quarterly earnings for Q3 compared to the previous year, marking the smallest rise in two years.

In addition, market participants will be watching appearances by a slew of Fed officials this week, including Barr, Williams, Paulson, Waller, Bostic, Miran, Musalem, Hammack, Schmid, and Logan. Their remarks will be scrutinized closely amid the ongoing debate over whether another rate cut is needed at the December meeting.

Meanwhile, chipmaker Advanced Micro Devices (AMD) will host an analyst day on Tuesday, where CEO Lisa Su is expected to share further details about the company’s AI roadmap.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.132%, up +0.95%.

The Euro Stoxx 50 Index is up +1.70% this morning, mirroring an upbeat mood across global markets as investors welcomed early signs that the U.S. government shutdown may soon end. Technology, travel, and mining stocks led the gains on Monday. Monday’s optimistic tone helped investors shrug off downbeat economic data from the region. The Sentix Index measuring investor sentiment in the Eurozone unexpectedly worsened in November. “The euro zone continues to languish, with no signs of momentum for the future. As a result, the path to 2026 seems to be predetermined: the Eurozone economy is unable to emerge from its slump,” Sentix said in a statement. Separately, a BusinessEurope survey showed that regional businesses are likely to face a significantly greater impact from trade tensions in 2026 than in 2025. Investor focus this week is on Germany’s ZEW economic sentiment indicator for November, the second estimate of the Eurozone’s third-quarter GDP, and the Eurozone’s industrial production data for September, along with remarks from several European Central Bank officials, including Executive Board members Isabel Schnabel and Luis de Guindos. In corporate news, Diageo Plc (DGE.LN) climbed over +7% after the spirits maker named former Tesco chief Dave Lewis as its new CEO.

Eurozone’s Sentix Investor Confidence Index was released today.

The Eurozone November Sentix Investor Confidence Index came in at -7.4, weaker than expectations of -3.9.

Asian stock markets today settled in the green. China’s Shanghai Composite Index (SHCOMP) closed up +0.53%, and Japan’s Nikkei 225 Stock Index (NIK) closed up +1.26%.

China’s Shanghai Composite Index closed higher today and hit a new 10-year high, supported by positive inflation data from the country. Liquor and consumer stocks outperformed on Monday. The benchmark index also tracked gains across Asian peers as risk appetite improved amid optimism that the longest U.S. government shutdown in history may soon come to an end. Data from the National Bureau of Statistics released over the weekend showed that China’s producer price deflation moderated in October while consumer prices returned to positive territory, partly due to the boost from a weeklong holiday and Beijing’s ongoing efforts to reduce excess capacity in key industries. Still, economists cautioned that it is premature to declare an end to deflation, as property prices continue to decline and domestic demand remains subdued. Xu Tianchen, senior economist at the Economist Intelligence Unit, said, “The future trend of inflation will depend on how much demand-side policies are strengthened.” Investor attention now turns to key indicators of China’s October economic activity, including retail sales and industrial production, due Friday, which will provide insight into the economy’s momentum at the start of the final quarter of the year. In other news, Beijing has suspended sanctions on South Korean shipbuilders linked to a U.S. investigation and halted certain export controls on critical minerals, following a trade truce reached with Washington last month. In corporate news, Wingtech Technology rose over +3% after Beijing granted exemptions from export controls on Nexperia chips intended for civilian applications.

The Chinese October CPI unexpectedly rose +0.2% y/y, stronger than expectations of no change y/y.

The Chinese October PPI fell -2.1% y/y, stronger than expectations of -2.3% y/y.

Japan’s Nikkei 225 Stock Index closed higher today, tracking gains in U.S. equity futures amid optimism that the historic U.S. government shutdown could soon come to an end. Technology and electronics stocks led the gains on Monday. Preliminary data from the Cabinet Office released on Monday showed that Japan’s leading economic indicators index, which gauges the economic outlook for a few months ahead based on data such as job offers and consumer sentiment, rose to an 8-month high in September. Meanwhile, a summary of opinions from the Bank of Japan’s latest meeting released on Monday showed that policymakers saw a growing case for raising interest rates in the near term. “It is likely that conditions for taking a further step toward the normalization of the policy interest rate have almost been met,” one of nine board members said while stressing the importance of assessing underlying inflation, according to the summary. BOJ board member Junko Nakagawa on Monday reiterated the bank’s stance of pursuing further rate hikes but also emphasized the need to proceed carefully amid ongoing uncertainties. With nearly all BOJ watchers anticipating higher borrowing costs by January, attention is now centered on whether the hike will occur on December 19th or the following month. Japanese Prime Minister Sanae Takaichi said on Monday that she hopes the central bank steers monetary policy toward sustainably achieving 2% inflation driven by wage gains rather than higher raw material costs. In other news, Goldman Sachs said U.S. investors are increasingly snapping up Japanese stocks tied to tech and AI, attracted by the country’s superior returns relative to U.S. equities. In corporate news, Mercari soared over +18% after the flea market app operator posted a 70% jump in quarterly net profit. At the same time, Honda Motor slid more than -4% after Japan’s second-largest automaker cut its full-year profit guidance. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -5.04% to 33.72.

The Japanese September Leading Index stood at 108.0, stronger than expectations of 107.9.

Pre-Market U.S. Stock Movers

The Magnificent Seven stocks advanced in pre-market trading amid risk-on sentiment, with Nvidia (NVDA) rising over +3% and Tesla (TSLA) gaining more than +2%.

Chip stocks climbed in pre-market trading, with Micron Technology (MU) gaining over +5% and Advanced Micro Devices (AMD) rising more than +3%.

Cryptocurrency-exposed stocks moved higher in pre-market trading, following gains in the price of Bitcoin. Strategy (MSTR) is up more than +2%. Also, MARA Holdings (MARA) is up over +4%, and Coinbase (COIN) is up more than +2%.

Rumble (RUM) soared over +17% in pre-market trading after agreeing to acquire German AI infrastructure company Northern Data in a deal valued at up to $970 million.

Metsera (MTSR) plunged more than -14% in pre-market trading after Pfizer agreed to acquire the company for up to $86.25 per share. 

You can see more pre-market stock movers here

Today’s U.S. Earnings Spotlight: Monday - November 10th

CoreWeave (CRWV), Occidental (OXY), Ast Spacemobile (ASTS), Venture Global (VG), Tyson Foods (TSN), Ke Hldg (BEKE), Roivant Sciences (ROIV), Rigetti Computing (RGTI), Monday.Com (MNDY), Maplebear (CART), Tower (TSEM), StandardAero (SARO), Starwood Property (STWD), Shiseido Company (SSDOY), Blackstone Secured Lending Fund (BXSL), Terawulf (WULF), Camtek (CAMT), Bitdeer Tech (BTDR), Global Business Travel (GBTG), Howard Hughes Holdings (HHH), Plug Power (PLUG), Mineralys Therapeutics (MLYS), eToro (ETOR), Surgery Partners Inc (SGRY), ReNew Energy Global (RNW), Tidewater (TDW), BigBearai Holdings (BBAI), BKV (BKV), Gemini Space Station (GEMI), Pagaya (PGY), Guardian Pharmacy Services (GRDN), Jamf (JAMF), TheRealReal (REAL), Harrow Health (HROW), Dole (DOLE), Wave Life Sciences Ltd (WVE), Yalla (YALA), Global Ship Lease (GSL), Evgo (EVGO), Braskem (BAK).