Stock market today: S&P 500, Nasdaq soar as Senate vote lifts hopes for end to US shutdown

Tech stocks led the market higher on Monday after the Senate took a big step toward ending the record-breaking government shutdown that has clouded the picture of the economy.

The tech-heavy Nasdaq Composite (^IXIC) surged over 2%, while the S&P 500 (^GSPC) and Dow Jones Industrial Average climbed by around 1.4% and 0.6%, respectively.

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Markets have turned upbeat amid optimism that the 39-day US shutdown could soon come to an end, after a weekend of dealmaking in Washington. A new bill was released late Sunday and quickly advanced in a key Senate procedural vote, after enough Democrats joined with Republicans to avoid a filibuster.

The prolonged shutdown has taken a toll on consumer confidence and the overall economy, with consumer sentiment dropping to just above record lows. Meanwhile, it has disrupted federal services and delayed the release of key economic data, complicating the Federal Reserve's policymaking and Wall Street's calculations. The Consumer Price Index (CPI) and Producer Price Index (PPI) inflation updates due this week are the latest to be hit.

Next up for the bill is a vote for final passage in the chamber, though its fate in the House remains uncertain. While it would reopen the government through Jan. 30, among other funding provisions, the deal lacks any immediate vote on the extension of healthcare subsidies earlier demanded by Democrats.

The moves higher come after a bumpy week on Wall Street, which saw the worst tech sell-off since April with the likes of Nvidia (NVDA) struggled to make headway amid persistent worries about an AI bubble and overbaked valuations.

This week, investors will turn their attention to corporate earnings, with tech releases from CoreWeave (CRWV), Oklo (OKLO), and Rocket Lab (RKLB). The entertainment sector will get a health check with results from The Walt Disney Company (DIS) and Paramount Skydance (PSKY).LIVE17 updates

21 mins ago

Grace O'Donnell

Gold rises above $4,100 as 'run-it-hot' policy, Trump tariff rebate prospects fuel rally

Yahoo Finance's Ines Ferré reports:

Read more here. 34 mins ago

Jake Conley

Venture Global stock pops as year-on-year revenues and EPS explode

Shares in Venture Global (VG) rallied by more than 6% in midday trading on Monday after the liquified natural gas (LNG) producer and exporter posted third quarter revenues and earnings per share that exploded over levels at the same time last year.

Venture Global reported revenues of $3.3 billion in the third quarter, beating analyst estimates and exceeding revenues from the same quarter last year by 260% as LNG export demand in the US has surged.

The company posted adjusted earnings per share of $1.50 for the quarter, soaring over analyst expectations of $0.23 and coming in more than 430% higher than levels in the third quarter of 2024.

"In my mind, the extraordinary list of accomplishments achieved in the past few months tells the story of Venture Global's unwavering commitment to streamline high-impact execution in its growth to date," founder and CEO Michael Sabel said on the third quarter earnings call.

In the US, which is already the world's largest exporter of natural gas, capacity for liquefaction — the process of converting natural gas to an exportable liquid form — is expected to more than double by 2029, according to a forecast from the Energy Information Administration surveying planned projects from some of the country's leading exporters.

North American exports of LNG overall are also expected to more than double over the same period, according to the EIA. Venture Global is the second-largest exporter of natural gas in the country, behind Cheniere Energy (LNG).

Demand for natural gas is quickly rising globally as the product takes up an increasing amount of the supply share for energy, traditionally dominated by oil. While the count of oil rigs in the US has fallen precipitously year-on-year, the count of natural gas rigs is up 18% over the same time last year, according to the American Gas Association.

While prices remain below historical highs in the 2000s, futures on natural gas (NG=F) are up more than 38% over the past month and expected to continue rising through 2026 and 2027, as demand grows over the same period. 39 mins ago

Jake Conley

Warren Buffett is 'going quiet' at Berkshire Hathaway

Warren Buffett will no longer write annual letters to Berkshire Hathaway's (BRK-B, BRK-A) investors or speak at the firm's annual meetings, Yahoo Finance's Myles Udland reports.

He reports:

Read more here. Today at 5:55 PM UTC

Grace O'Donnell

Bitcoin rises above $105,000 following major sell-off as risk-on mood returns

Bitcoin (BTC-USD) staged a small comeback Monday, rising 1.9% to trade around $105,400 per token, after a major deleveraging event in October spurred a sell-off in the cryptocurrency.

On Friday, the world's largest crypto by market cap sank by as much as 20% off its Oct. 6 high, briefly sliding below $100,000.

But a glimmer that the government shutdown may soon end and President Trump's tweet about a $2,000 tariff "dividend" check increased risk appetite and boosted sentiment on Monday.

Since the August peaks, "a lot of liquidity pulled out of the market, sentiment soured a little bit," CoinDesk Indices managing director Andy Baehr told Yahoo Finance on Monday. "And then the government shutdown kind of really brought on this malaise that turned this kind of tenderness of the market into a vulnerability. Then the Oct. 10 episode happened, which was not a great look for the market. It showed some cracks in the armor." Today at 5:15 PM UTC

Grace O'Donnell

The government shutdown could end soon. The release of key government data could take longer.

If the government shutdown ends this week, will the release of missing inflation and labor market data follow soon thereafter? Don't hold your breath, writes Yahoo Finance's Ben Werschkul.

He reports:

Read more here. Today at 4:31 PM UTC

Karen Friar

UBS sees the S&P 500 hitting 7,500 by the end of 2026, fueled by AI and earnings

Wall Street’s AI-driven rally just got another vote of confidence, writes Yahoo Finance's Allie Canal.

Swiss banking giant UBS (UBS) just raised its forecast for the S&P 500 (^GSPC) in 2026 and now expect the broad benchmark to reach 7,500 by the end of that year. Its strategists pointed to strong corporate earnings and gains in a resilient technology sector for the more bullish target.

Their faith in robust earnings echoes that at Morgan Stanley, whose team on Monday said there are "clear signs" an earnings recovery is underway that will fuel a stock rally next year.

Allie reports:

Read more here. Today at 4:25 PM UTC

Jake Conley

Eli Lilly rallies to new all-time high on deal headlines

Eli Lilly (LLY) rallied to an all-time high Monday morning on a series of deal headlines, hitting $981.99 before paring gains.

On Monday morning, news broke that the company had signed a deal worth $475 million with MeiraGTx Holdings (MGTX), granting Eli Lilly rights to an experimental gene therapy treatment developed by Meira. The gene therapy is intended to treat a rare disorder that causes severe vision problems from birth, according to Reuters.

At the end of last week, the White House announced deals with Eli Lilly and fellow pharmaceutical giant Novo Nordisk (NVO) that will see the two drugmakers offer their hyper-popular GLP-1 weight-loss drugs for customers on Medicare and Medicaid plans, as well as cash payers.

Prices on Eli Lilly's Zepbound and Orforglipron drugs, if approved, will fall to an average of $346 per month from $1,086 per month through the new "TrumpRX" program, according to a White House press release announcing the deal.

Novo Nordisk's Ozempic and Wegovy will fall to $350 per month from $1,000 and $1,350 per month through the program, according to the press release.

The price scheme also includes cuts on other drugs offered by Eli Lilly and Novo Nordisk, and includes provisions that would bring prices down even further for Novo's Wegovy if the FDA approves a pill formulation. Today at 3:51 PM UTC

Jake Conley

Nvidia rallies on Monday as tech stocks push higher on shutdown deal news

Shares in Nvidia (NVDA) picked up more than 4% in the first hours of trading on Monday as the tech sector began to stage a rebound from Friday's sell-off on positive movement in Washington toward resolving the shutdown.

Shares in fellow "Magnificent Seven" members Meta (META) and Microsoft (MSFT) performed similarly, gaining more than 1.5% and 1.3%, respectively, on Monday, while Alphabet (GOOG) and Amazon (AMZN) rallied by more than 3% and 1.3%, respectively.

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The tech sector led a steep sell-off on Friday, with the tech-heavy Nasdaq Composite (^IXIC) falling 0.3% to close out last week down more than 3% over the five-day stretch, its biggest weekly loss since April. Growing fears about an AI bubble and hyper-inflated stock valuations spooked investors, causing the "Magnificent Seven" stocks to shed value.

But news out of Washington that the Senate had advanced a bill to end the government shutdown prompted a rally on Monday morning, led by the tech sector. The Nasdaq Composite gained more than 1.8% Monday morning, climbing by more than 430 points.

After briefly crossing the $5 trillion market capitalization mark at the end of October, Nvidia — still the world's most valuable company — sat at a valuation of around $4.75 trillion through Monday morning. Today at 3:10 PM UTC

Jake Conley

Airline stocks pop on potential end to the government shutdown

Shares in US airlines, which have been roiled as the government shutdown has dragged on, popped shortly after the opening bell on Monday on news of a breakthrough in Washington, but then pared gains.

Shares in Delta Air Lines (DAL) and United Airlines (UAL) gained more than 1.2% and more than 0.5%, respectively, after news broke late Sunday night that the Senate had advanced a bill to end the government shutdown. JetBlue Airways (JBLU) and Southwest (LUV) saw their shares rally by more than 0.7% and more than 1.6%, respectively.

As of 10:00 a.m. ET, all four airlines had pared their gains, with United slipping into the red by more than 4%.

US airways have been thrown into chaos over the past month as air traffic control workers, crucial to the safe operation of airspace, have gone without pay, prompting widespread delays and cancellations.

Over the weekend, major US airports were instructed by the Department of Transportation to cut their flight capacity by up to 10%, just as the busy holiday season approached. As of 7:15 a.m. ET Monday morning, around 5.5% of the day's scheduled flights had been canceled, according to data reported by Bloomberg,

Chicago O'Hare, Newark Liberty International, and LaGuardia Airport were the hardest-hit airports, with at least 8% of their flights canceled. Delta Air Lines suffered the most cancellations among the airlines. Today at 2:49 PM UTC

Jake Conley

Tech leads stocks higher after breakthrough on deal to reopen US government

Gains for tech stocks underpinned a broader rally at the start of trading on Monday, after the Senate advanced a new bill to end the longest government shutdown in US history.

The tech-heavy Nasdaq Composite (^IXIC) led the advance, climbing by more than 1.8%. Meanwhile, the broad benchmark S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) moved up 1.1% and 0.6%, respectively.

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Grace O'Donnell

Trending tickers to watch: Monday.com, Plug Power, Beyond Meat, Maplebear

As investors look to a path to end the government shutdown and a drumbeat of earnings reports, here's what stock tickers were moving on Monday morning:

Monday.com (MNDY) stock shed 20% in premarket trading after the cloud-based project management software maker issued a soft revenue outlook of $329 million ($4 million short of estimates) that overshadowed its earnings beat. The stock is on track for greater year-to-date losses, as the stock had already given up 19% since the beginning of the year.

Plug Power (PLUG) rose 5% ahead of the market open after the hydrogen fuel company said it's aiming to generate $275 million in liquidity improvements through asset monetization, release of restricted cash, and reduced maintenance expenses. The company is pivoting toward higher-return projects in the data center sector.

Beyond Meat (BYND) stock rose 3.5% in anticipation of its delayed earnings report after the closing bell today. The stock has drawn more speculation in recent weeks as a meme trade, as shares are down 63% year to date.

Maplebear (CART) stock jumped over 7% as online grocery orders surged in the third quarter. The company reported an earnings and revenue beat in Q3, with orders up 14% year over year and transaction revenue up 10%. Today at 1:30 PM UTC

Ben Werschkul

Oil, Treasury yields rise on government shutdown optimism

Bloomberg reports on early Treasury moves after a breakthrough on Capitol Hill that could lead to an end to the shutdown.

While Reuters took note of another market that moved quickly on shutdown optimism: Oil. Today at 1:03 PM UTC

Karen Friar

Record US shutdown, valuation worries at play for markets: What to watch this week

Yahoo Finance's Jake Conley takes a look at this week's potentially market-moving events:

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Read more here. Today at 12:43 PM UTC

Karen Friar

Metsera slides after Novo pulls out of bidding war with Pfizer

Metsera (MTSR) shares sank 15% in premarket after Novo Nordisk (NVO, NOVO-B.CO) said it wouldn't bump up its offer to buy the US developer of an experimental weight-loss drug.

By bowing out, the Danish pharma has called an end to a surprise bidding war with rival Pfizer (PFE) to buy the startup. Metsera stock on Friday closed at over four times its IPO value in January as the takeover bids came in.

Shares of Novo ticked 1.4% higher before the bell, while Pfizer shares were little changed.

Blooomberg reports:

Read more here. Today at 11:23 AM UTC

Karen Friar

Elon Musk's pay package is a clear signal that Tesla is done being just a car company

Yahoo Finance's Hamza Shaban lays out the takeaway from the Tesla (TSLA) shareholder vote:

Read more here. Today at 10:40 AM UTC

TSMC stock rises as Wall Street eyes Nvidia supplier's sales update

Shares of TSMC (TSM, 2330.TW) rose in premarket as investors digested monthly sales figures from the world's biggest contract chipmaker.

The supplier to Nvidia (NVDA) — formally named Taiwanese Semiconductor Manufacturing Co. — posted a 16.9% year-on-year rise in revenue for October amid resilient AI demand. Sales for this year to the end of October rose 33.8%, compared with the same period in 2024.

But October's monthly growth was the slowest pace since February 2024, per Bloomberg. That could underscore recent worries about the staying power of the AI boom.

Bloomberg reports:

Read more here. Today at 6:26 AM UTC

Rian Howlett

Gold gains for second consecutive day following strong pullback from record high

Bloomberg reports:

Read more here.

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