AMD241.72, AVGO358.6, GOOGL285.34, META630.3, and NVDA194 up about 2% to 3.5% pre-market after underperforming last week. Risk appetite improved over the weekend, with gold higher. The main development this weekend was the US Senate advancing plans to end the government shutdown. A vote for final passage is not yet scheduled, and timing remains unclear since the Senate needs consent from all members to end the shutdown quickly. The deal does not extend expiring Affordable Care Act subsidies, a key Democratic demand that could complicate passage. Prediction markets now show about an 87% chance the shutdown ends between Nov 12 and Nov 15, up roughly 60% from Friday, while the probability of an outcome after Nov 16 fell from 60% to 7%.
Last weekend's bearish tone faded after Friday afternoon's rebound and a strong Asia session. Reopening prospects can remain a short term catalyst until resolved. NVDA briefly broke below the 182 support area but closed back above it. Market reaction after reopening will be important for the second half of November and December. Another catalyst to watch is NVDA earnings on Nov 19. If there is no significant downside reaction after NVDA earnings and the government reopens as expected, our expectation of a strong fourth quarter could play out.