U.S. stocks surged on Monday (November 10) after U.S. senators made key progress toward a potential deal to end the longest government shutdown in American history.
At the close of trading on November 10, the Dow Jones Industrial Average rose 381.53 points, or 0.81%, to 47,368.63. The S&P 500 gained 1.54% to 6,832.43, while the Nasdaq Composite advanced 2.27% to 23,527.17.
Shares of Nvidia, Broadcom, and other leading artificial intelligence (AI) stocks led the market higher on Monday, as optimism over an end to the government shutdown boosted investor risk appetite. Microsoft shares climbed 1.9%, ending an eight-day losing streak — the company’s longest since 2011. These same stocks had led last week’s market declines amid Wall Street concerns over excessive valuations in the AI sector.
Investors continued to closely monitor lawmakers’ negotiations on a federal funding bill aimed at reopening the government.
A procedural measure allowing further votes on the deal was approved on Monday with at least 60 votes in favor, after eight Democratic senators broke ranks with party leadership to support the agreement.
The deal would reopen the U.S. government through January 2026 and reverse some of the recent large-scale federal layoffs. It would also include future job protections for government employees. The agreement does not extend subsidies under the Affordable Care Act (ACA) — a major sticking point for most Democratic lawmakers — but it does call for a vote on the subsidies in December 2025.
According to a University of Michigan survey released on November 7, concerns over the government shutdown have pushed consumer sentiment down to its lowest level in more than three years, just slightly above the all-time low. Because of the shutdown, federal agencies have been unable to release key economic reports, including the Consumer Price Index (CPI) and Producer Price Index (PPI), which were scheduled for publication this week.
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