Tech Rallies, Palantir Jumps 6% As Shutdown End Looms: What's Moving Markets Monday?

Wall Street rebounded on Monday, recovering part of last week's steep losses as investors grew more confident about risk assets amid encouraging signs from Washington that the record-long government shutdown may soon conclude.

• PLTR is charging ahead with explosive momentum. Check the full analysis here.

During a procedural vote on Sunday, the Senate approved the initial step toward reopening the government, reaching the 60-vote threshold required to advance the bill. Eight Democratic senators sided with Republicans, easing their earlier insistence on including a guaranteed extension of Affordable Care Act subsidies.

Betting markets now suggest the shutdown could end as early as midweek, with odds favoring a resolution by Wednesday or Thursday.

Technology stocks — hit hard last week by renewed fears of an AI bubble — staged a strong comeback. The Nasdaq 100 climbed nearly 1.5%, marking its best day in two weeks.

Palantir Technologies Inc. (NYSE:PLTR), which sank more than 11% the previous week, jumped 6.2% for its strongest performance since July.

The S&P 500 gained 0.8%, the Russell 2000 rose 0.7%, and the Dow Jones Industrial Average added a modest 0.1%.

In commodities, gold and silver led the advance, benefiting from safe-haven demand amid rising government debt levels. The rally in precious metals lifted mining shares, sending the VanEck Gold Miners ETF (NYSE:GDX) up more than 4%.

Meanwhile, in cryptocurrencies, Bitcoin (CRYPTO: BTC) edged up 0.3% to reclaim the $105,000 mark, while Ethereum (CRYPTO: ETH) slipped 1.5% to $3,520.

Monday’s Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.7% to $621.23.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) flattened at $470.09.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 1.3% to $617.25.
• The iShares Russell 2000 ETF (NYSE:IWM) 0.7% to $243.20.
• The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 1.4%; the Consumer Staples Select Sector SPDR Fund (NYSE:XLP) lagged, down 0.9%.

S&P 500’s Top 5 Gainers on Monday

S&P 500’s Top 5 Laggards on Monday

Monday’s Earnings Movers

• Tyson Foods, Inc. (NYSE:TSN) up 1.5%
• Starwood Property Trust, Inc. (NYSE:STWD) down 1.9%
• Howard Hughes Holding Inc. (NYSE:HHH) up 10.3%
• TEGNA Inc. (NYSE:TGNA) down 0.1%
• Organon & Co. (NYSE:OGN) up 11.9%
• TreeHouse Foods, Inc. (NYSE:THS) up 23.3%

Stocks slated to report earnings after the close include Interpublic Group Of Companies (NYSE:IPG), Dillard's, Inc. (NYSE:DDS), Freedom Holding Corp. (NASDAQ:FRHC), Tidewater Inc. (NYSE:TDW), Plug Power Inc. (NASDAQ:PLUG) and Celldex Therapeutics, Inc. (NASDAQ:CLDX).

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Image created using artificial intelligence via Midjourney.