The S&P 500 jumped 1.54% and the Nasdaq 100 surged 2.20%—their biggest single-day gains since May—as the Senate advanced legislation to end the record-long government shutdown.
Tech stocks, particularly AI names, led the rally. Nvidia rose 6%, Palantir 9%, and Tesla 3.7% as investors rotated back into the sector following last week’s 4.2% decline in the S&P tech index. Brokerages raised their price targets on Nvidia, amid optimism about potential government AI spending, which fueled the rebound.
The yen weakened after Prime Minister Sanae Takaichi signalled support for a less hawkish monetary stance.
Gold surged nearly 3% above $4,100/oz on growing bets the Fed will cut rates in December, following weak jobs and consumer confidence data linked to the shutdown.
Bitcoin rebounded to $105,800, recovering from last week’s decline as hopes of a shutdown resolution lifted risk sentiment.
WTI crude rose 0.5% to above $60/bbl on optimism over shutdowns and demand expectations, though upside remains capped by OPEC+ production increases and rising US inventories.
Asian and European equities rallied on hopes of a US reopening and positive Chinese inflation data, supporting Indian markets.
Lenskart debuted tepidly, Pine Labs’ IPO saw subdued demand ahead of its closure, though upcoming issues continue to attract retail interest.
A high-level meeting will be held at the Ministry of Home Affairs today, chaired by Union Home Minister Amit Shah, to discuss the blast near Red Fort.
President Donald Trump announced that the United States will soon reduce the tariffs imposed on India, as the two nations move closer to finalising a trade deal.
Nifty rose 82 points (0.32%) to 25,574 yesterday, breaking a three-session losing streak. The index has support at the 50 DEMA (25,338) and resistance at 25,680.
Indian bourses are expected to open higher today, supported by positive global cues amid progress on the U.S. shutdown bill and optimism over a nearing US trade deal.