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50m ago

Dow Sets Record as Shutdown-End Bill Advances and Traders Shift Out of AI Highfliers

Investors expect a swift reopening as the House readies a vote, with weaker private payrolls tilting expectations toward a December Fed cut.

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)
The Dow closed at a record high and had its best day in almost one month.

Overview

  • The Senate approved a funding deal to end the record shutdown, and the House could vote as soon as Wednesday before the measure goes to President Donald Trump.
  • The Dow rose 559 points to a record 47,927.96, the S&P 500 gained 0.21%, and the Nasdaq fell 0.25% as money moved into health care, energy and consumer staples.
  • SoftBank disclosed it sold its entire Nvidia stake in October for about $5.83 billion, pulling Nvidia down roughly 3% and pressuring other AI-linked shares.
  • An ADP report showed private employers cut an average 11,250 jobs per week in the four weeks to Oct. 25, lifting market-implied odds of a December Fed rate cut to around two-thirds.
  • The spending bill would fund some agencies for the full year and others through Jan. 30, pay furloughed federal workers, and restart payments to states, enabling the resumption of delayed economic data releases once enacted.