Stock futures on the Dow Jones Industrial Average (DJIA), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) are all pointed higher, after eight Democratic senators folded from party leadership to support the end of the government shutdown, shedding the key ACA credit extension in exchange for a vote in December. The NDX is up more than 365 points as the AI sector enjoys a lift, tabling anti-risk trading as both Nvidia (NVDA) and Broadcom (AVGO) lead the pack. This optimism follows weekly losses for all three indexes.
5 Things You Need to Know Today
- The Cboe Options Exchange saw 3.1 million call contracts and 1.9 million put contracts exchanged on Friday. The single-session equity put/call ratio rose to 0.63, while the 21-day moving average remained at 0.58.
- Pharma stock Pfizer Inc (NASDAQ:PFE) is 0.5% higher before the bell, enjoying a lift after penning a $10 billion deal to purchase obesity drugmaker Metsera, following a bidding war. PFE has struggled to maintain positive ground since tapping an Oct. 3, annual 52-week high of $27.69, and sports a 7.9% year-to-date deficit.
- Airliners are also enjoying a boost in light of the potential end of the longest-ever government shutdown, with American Airlines Group Inc (NASDAQ:AAL) shares up 1.5% ahead of the open. AAL has also seen better days, suffering a 21% drop for 2025, most recently unable to break above the $14 ceiling.
- MP Materials (NYSE:MP) is 4.8% higher this morning, after the rare earths stock landed an upgrade to "buy" from "hold," as well as a price target hike to $71 from $68 at Deutsche Bank. MP is up 275% this year.
- This week ushers in even more big name earnings.
Consumer Inflation Pushes Shanghai Composite Higher
Asian markets started the week off on the right foot, with encouraging inflation data out of China helping sentiment improve after last week’s tech rout. The Shanghai Composite is 0.5% higher, after headline consumer inflation rose 0.2% year-over-year, above estimates. South Korea’s Kospi added 3%, thanks to a resurgent Samsung and SK, while Hong Kong’s Hang Seng tacked on 1.6%. Japan’s Nikkei gained 1.3%, after the Bank of Japan (BoJ) meeting notes showed the central bank was leaning toward a near-term rate hike.
Over in Europe, bourses are buzzing amid the possible ending of the U.S. government shutdown. At last check, London’s FTSE is up 1%, while the German DAX and French CAC 40 are 1.8% and 1.5% higher, respectively.
