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2h ago

Dow Hits Record as Traders Bet on Shutdown End, Tech Retreats

Senate passage of a funding bill set up a House vote as weak ADP payrolls lifted expectations for a December Fed rate cut.

Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustration
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 10, 2025. REUTERS/Brendan McDermid
The Dow closed at a record high and had its best day in almost one month.
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

Overview

  • The Senate approved a measure to end the record-long government shutdown, with a House vote expected as soon as Wednesday and President Trump's signature required before agencies reopen.
  • The Dow rose 559 points to a record 47,927.96, the S&P 500 added 0.21%, and the Nasdaq fell 0.25% as AI-heavy tech shares lagged.
  • Investors rotated into consumer, healthcare, energy and industrials, boosting blue chips and leaving high-valuation AI leaders under pressure.
  • Nvidia dropped about 3% after SoftBank disclosed it had sold its entire stake for roughly $5.83 billion, while Nvidia-backed CoreWeave slid after trimming its revenue outlook.
  • ADP data showed private employers shed an average of 11,250 jobs per week over four weeks, helping push market odds of a 25-basis-point Fed cut in December to roughly two-thirds as official releases remain delayed and U.S. bond markets were closed for Veterans Day.