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4h ago

Dow Closes at Record as Shutdown Deal Hopes Lift Cyclicals While AI Leaders Slide

A looming House vote to end the 43‑day shutdown could restart data flow, shaping Fed expectations.

People walk past a brokerage house, as an electronic board displays stock index information graph, in the Central Business District (CBD) in Beijing, China, October 13, 2025. REUTERS/Maxim Shemetov
Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustration
Thomas McArdle works on the floor at the New York Stock Exchange in New York, Tuesday, Nov. 11, 2025. (AP Photo/Seth Wenig)
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Overview

  • The Dow jumped 559 points to 47,927.96 for a record close, the S&P 500 edged higher, and the Nasdaq slipped as mega‑cap AI names retreated.
  • Optimism rose after the Senate passed a stopgap funding bill, with the House expected to vote as soon as Wednesday before the measure goes to President Donald Trump.
  • Investors rotated into health care, energy and consumer staples, boosting the less tech‑exposed Dow as high‑valuation tech shares lost momentum.
  • Nvidia fell about 3% after SoftBank disclosed it sold its entire stake last month, CoreWeave sank after trimming its outlook, and AMD’s upbeat data‑center forecast lifted its shares premarket.
  • Private payroll trackers pointed to labor softening, and traders priced roughly a 63% chance of a December Fed rate cut, with futures higher early Wednesday on shutdown and policy hopes.