Stocks Surge on Optimism for Deal to End US Government Shutdown; Palantir Leads Tech Rebound

Noteworthy S&P 500 Movers on Monday

11 hr 22 min ago

Advancers

• Palantir Technologies (PLTR) shares surged close to 9%, logging the S&P 500’s top performance Monday. The data analytics software company counts the U.S. government as a big customer, and has inked numerous contracts with the Department of Defense, Department of Homeland Security, and other federal agencies. If a deal to end the government shutdown does materialize soon, Palantir would benefit.
• Shares of data storage maker Western Digital (WDC) jumped close to 7% following a price-target boost and bullish comments from analysts at Loop Capital. The research firm said it anticipates growing demand for hard disk drive capacity into 2026 and strong pricing trends. Loop Capital also boosted its price target on shares of data storage competitor Seagate Technologies (STX), which gained 5.2% Monday.
• Bullish analyst comments also contributed to a positive trading session for the world’s largest company by market capitalization. Citi lifted its price target on shares of AI chip leader Nvidia (NVDA) to $220 from $210, noting that demand for its processors remains robust. Analysts also highlighted competitive advantages including Nvidia’s software ecosystem and strong relationships with cloud computing leaders. Nvidia is set to release its latest quarterly results on Nov. 19. Shares of Nvidia added about 6% to close around $199 Monday.

Decliners

• Health insurance stocks moved lower after President Trump said in a social media post over the weekend that federal healthcare subsidies should by paid directly to individuals rather than to insurers. Shares of Centene (CE), which has significant exposure to the Affordable Care Act market, plunged nearly 9%, losing the most of any S&P 500 stock. Molina Healthcare (MOH) shares sank 7.3%, while Humana (HUM) fell 5.4% and Elevance Health (ELV) lost 4.4%.
• Ball Corp. (BALL), a maker of aluminum cans, announced a shakeup in its top executive position. CEO Dan Fisher stepped down from the company, effective immediately, and Ronald Lewis took the helm of the company. Lewis was previously Ball’s chief supply chain and operations officer. Shares of the company fell 5.2%.

–Michael Bromberg

Why Warren Buffett Says He’s Not Selling His Berkshire Stake Just Yet

11 hr 36 min ago

Warren Buffett sought to allay investor concerns about his upcoming retirement in a letter to shareholders on Monday. 

Buffett, in a Thanksgiving letter he said would become an annual tradition, said he plans to keep a “significant” number of Berkshire’s Class A shares until shareholders “develop the comfort” with incoming CEO Greg Abel that Buffett and his late business partner Charlie Munger “long enjoyed.” Buffett on Monday converted 1,800 “A” shares—worth about $1.3 billion—to “B” shares, which were donated to four family-run foundations.

Buffett also said he plans to “step up the pace of lifetime gifts” to his three children’s foundations, to which he has promised to donate the entirety of his nearly $150 billion fortune. He said the acceleration was meant to increase the likelihood that his children—aged 72, 70, and 67—can dispense his fortune “before alternate trustees replace them.”

Buffett, who has led Berkshire for 60 years, said in 2021 that Abel would succeed him as CEO. He officially announced in May that the transition would happen at the end of this year. 

Berkshire shares have fallen 7% since that announcement, while the S&P 500 has risen 20%. Analysts have attributed the stock’s underperformance to the “Buffett premium,” which refers to the boost Berkshire stock gets from Buffett’s unparalleled reputation on Wall Street and beyond. 

“The acceleration of my lifetime gifts to my children’s foundations in no way reflects any change in my views about Berkshire’s prospects,” Buffett wrote. “I can’t think of a CEO, a management consultant, an academic, a member of government – you name it – that I would select over Greg to handle your savings and mine,” he added.

–Colin Laidley

Americans’ Downbeat Economic Sentiment Hasn’t Stopped ‘Aggressive’ Spending

13 hr 41 min ago

Americans are spending through the malaise.

Retail spending, exclusive of restaurant, bar, gas station and car-related bills, grew 0.6% month-over-month in October, reversing a 0.5% decline in September, the National Retail Federation said. The trade group’s monthly analysis comes as consumer sentiment hits historic lows and analysts do their best to assess the economy without data from the now-shuttered federal government. (The Census Bureau’s October retail numbers are due Friday.)

People are maintaining spending, despite feeling less secure—a behavioral quirk that emerged during the pandemic and has persisted since, the NRF said on a conference call last week. Consumers, NRF President Matthew Shay said on the call, “have the ability to do two things at once: They expressed very low sentiment, but yet they drive the economy forward with spending and aggressive participation in commerce.”

Americans give current economic conditions the harshest rating on record, according to a 73-year-old survey conducted by the University of Michigan. Concern is mounting as inflation ticks up, layoffs grow and seasonal hiring is on track for the lowest level in 15 years, the NRF said on a conference call last week.

Read the full article here.

–Sarina Trangle

S&P 500 Consumer Staples Sector Lags on Positive Day

14 hr 18 min ago

There are 11 sectors tracked by the S&P 500. Only one is in the red today.

The S&P 500 Consumer Staples Sector is down about 0.4%, by far the worst-performing industry tracked by the benchmark index Monday.

The Utilities Sector is the next-worst performer, and it’s up about 0.1%.

Frozen potato products maker Lamb Weston Holdings (LW) is the worst performer in the Consumer Staples Sector, with shares down nearly 4%.

Trump Promises a $2,000 Tariff ‘Dividend’—But the Check Isn’t in the Mail Just Yet

15 hr 5 min ago

You may wait to wait to spend President Donald Trump’s $2,000 tariff dividend until you have a check in hand.

Trump proposed the new payments, to low- and middle-income Americans, in a weekend post on social media. Some experts, however, have questioned the math behind the idea, and a senior member of his administration suggested that the “dividend” may come from tax cuts passed in July, rather than any new policy.

“We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion. Record Investment in the USA, plants and factories going up all over the place,” Trump posted on social media Sunday. “A dividend of at least $2000 a person (not including high income people!) will be paid to everyone.”

Trump doubled down on the idea Monday, saying his import taxes are raising enough money to send out the $2,000 payments with enough left over to reduce the national debt.

“All money left over from the $2000 payments made to low and middle income USA Citizens, from the massive Tariff Income pouring into our Country from foreign countries, which will be substantial, will be used to SUBSTANTIALLY PAY DOWN NATIONAL DEBT,” he wrote.

Do the numbers add up? Erica York, vice president of tax policy at the Tax Foundation think tank, estimated the proposed rebate would cost $300 billion, assuming the $2,000 checks went out to adults making under $100,000 a year. The tariffs, meanwhile, have brought in $120 billion in revenue so far.

Read the full article here.

–Diccon Hyatt

What Instacart’s Results Tell Us About Grocery Delivery

15 hr 26 min ago

Maplebear (CART), better known as Instacart, posted better-than-expected results as shoppers placed more orders and spent more money on them.

The grocery delivery provider reported third-quarter earnings per share of $0.51, a penny above what analysts surveyed by Visible Alpha were anticipating. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 22% to $278 million, and revenue rose 10% to $939 million. Those beat forecasts as well.

Total orders increased 14% to 83.4 million, and gross transaction value (GTV) was up 10% to $9.17 billion. Both also exceeded Visible Alpha estimates. 

The company benefited from the use of artificial intelligence, “which is helping us build smarter products, better tools, and more accurate measurement across our ads ecosystem,” said CEO Chris Rogers.

Instacart predicts current quarter GTV of $9.45 billion to $9.60 billion, which “reflects our strong performance in October, continued momentum from landing and expanding our enterprise partnerships, and is partially offset by the expected impact of EBT SNAP funding scenarios on our business.” Federal EBT SNAP money was suspended earlier this month due to the government shutdown.

Maplebear shares were down 0.7% in mid-afternoon trading Monday. The stock has lost about 12% of its value since the start of the year.

–Bill McColl

Memory and Data Storage Stocks Surge Amid Optimism About AI Demand

16 hr 11 min ago

Memory and data storage stocks led the tech sector higher Monday amid optimism about growing AI-driven demand.

Shares of memory chip maker Micron Technology (MU) were up 7% around $254 in recent trading, making it one of the best-performing stocks in the S&P 500, along with hard drive makers Western Digital (WDC) and Seagate Technology (STX). 

Bullish analysts at Mizuho told clients in a note Monday that they see the demand outlook for Micron’s high-bandwidth memory chips remaining strong into next year and 2027, with potential for margin upside on strong pricing. That could mean further room to rise for the Nvidia (NVDA) and Advanced Micro Devices (AMD) supplier’s stock, they said, and reiterated a price target of $265.1

Wall Street analysts are overwhelmingly bullish on Micron’s stock, with nine of the 10 analysts with current ratings compiled by Visible Alpha calling it a “buy,” though it has already outstripped their mean target with its recent gains on booming demand for AI hardware. Analysts also lean more bullish than bearish on Western Digital and Seagate shares.

With Monday’s gains, Micron shares have roughly tripled in value in 2025. Western Digital shares have nearly quadrupled, and Seagate is up about 240%, leaving all three stocks among the best-performing stocks in the S&P 500 for 2025.

–Bill McColl

Health Insurer Stocks Slide on President Trump’s Call to Change ACA Payments

16 hr 49 min ago

Centene (CNC), HCA Healthcare (HCA) and Molina Healthcare (MOH) are among the worst-performing stocks in the S&P 500 Monday after President Donald Trump suggested federal health care money should circumvent insurers and go directly to people.

Trump wrote on his social media platform Truth Social over the weekend that he’s recommending the Senate and House change funding covered by the Affordable Care Act (ACA), or Obamacare, so that it “BE SENT DIRECTLY TO THE PEOPLE SO THAT THEY CAN PURCHASE THEIR OWN, MUCH BETTER, HEALTHCARE, and have money left over.”

The president blasted the insurance companies, calling them “money sucking” and said the U.S. should “take from the BIG, BAD Insurance Companies, give it to the people, and terminate, per Dollar spent, the worst Healthcare anywhere in the World, ObamaCare.”

The Washington think tank Committee for a Responsible Federal Budget earlier this month estimated that the subsidies paid to insurance companies this year have a gross cost to the federal government of $138 billion, up from $53 billion in 2020.

Centene shares were down more than 8% in midday trading, while Molina tumbled nearly 7% and HCA dropped 5%. Shares of United Health Group (UNH), Cigna Group (CI) and other health insurers fell as well.

–Bill McColl

Next Fed Meeting: When It Is in December and What to Expect

17 hours ago

The Federal Reserve’s policy committee meets next on Dec. 9 and 10, and officials are expected to cut the central bank’s key interest rate to lower borrowing costs in an effort to stabilize the deteriorating job market.

The Federal Open Market Committee will meet to consider whether to cut the federal funds rate from its current range of 3.75% to 4%. The Fed cut its interest rate by a quarter of a percentage point at each of the previous two meetings in an effort to prevent the recent job market slowdown from turning into a serious increase in unemployment.

As of Monday, financial markets were pricing in a 63% chance of a rate cut in the wake of data showing employers ramped up layoffs in October, and the public is getting more pessimistic about the job market, according to the CME Group’s FedWatch tool, which forecasts rate movements based on fed funds futures trading data.

However, a rate cut is not a done deal. Speaking at a press conference following the FOMC’s most recent meeting last month, Fed Chair Jerome Powell said the central bank was not guaranteed to cut rates, and noted the 12-member panel that votes on rate changes is divided about whether to cut rates to preserve the labor market, or keep them higher for longer to combat inflation.

Read the full article here.

–Diccon Hyatt

Here’s How Much Traders Expect CoreWeave Stock to Move After Earnings on Monday

17 hr 49 min ago

CoreWeave (CRWV) is slated to report third-quarter results after the closing bell on Monday, with traders expecting a big post-earnings move for the stock. 

Options pricing suggests traders anticipate shares of CoreWeave could move up to 14% in either direction by the end of this week. A move of that size would push the stock up to $118.70 at the high end, erasing some of the losses incurred amid last week’s slump in tech stocks, or drag it down to $89.30, its lowest price since early September.

CoreWeave has only reported quarterly results twice since it began trading, and neither has helped the stock. In May, shares fell more than 2% the day after the company’s earnings were released, despite better-than-expected results, with revenue increasing more than 400% year-over-year. Shares tumbled more than 20% after earnings in August, when the company reported a wider-than-expected loss.

Granted, CoreWeave’s shares advanced considerably leading up to both prints. The stock gained nearly 70% between its late-March IPO and May’s report, and rose about 120% heading into August’s results. This time could be different. Leading into Monday’s session, CoreWeave shares were down about 30% since its last earnings. 

Read the full article here.

–Colin Laidley

Palantir Stock Rebounds After Sinking Last Week

18 hr 4 min ago

Palantir Technologies (PLTR) shareholders are looking to put last week in the rearview mirror. This week is off to a promising start.

Palantir was the best-performing stock in the S&P 500 and Nasdaq late Monday morning, up about 6.7%.

Shares of the software and defense technology firm fell 11% last week, including 14% over the final four sessions.

Despite last week’s sharp declines, Palantir shares are up about 150% this year.

Are $2,000 Tariff Dividends Coming? President Trump Says So

18 hr 24 min ago

The president says he still wants to get you tariff money.

President Donald Trump in a Sunday morning message on Truth Social said a “dividend of at least $2000 a person” would be paid to “everyone.” Further details regarding timing and eligibility were not immediately available, and the White House did not respond to emailed questions in time for publication, but Trump in his message said “high income” earners would not receive the payment.

“People that are against Tariffs are FOOLS! We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price,” Trump’s message read. In a Sunday interview with CBS, Treasury Secretary Scott Bessent said he hadn’t discussed the proposal with Trump but suggested that the dividend could come as a result of the administration’s policies, arriving “in lots of forms and lots of ways.”

Trump’s statement advanced a notion that has made the rounds in different forms this year, with members of Congress at times discussing the possibility of stimulus checks. New York state is sending “inflation refund” checks to some residents.

The president himself has discussed the topic, though a payment at or above $2,000 would be higher than some amounts he has mentioned. Earlier this year, the idea of “DOGE dividends” was also floated.

The Supreme Court last week heard oral arguments in a case that raised questions about Trump’s authority to levy tariffs in the fashion his administration has adopted in his second administration.

Read the full article here.

–David Marino-Nachison

Diageo Stock Rises as Guinness Parent Names New CEO

19 hr 23 min ago

U.S.-listed shares of Diageo (DEO) popped 5% in early trading Monday after the British spirits giant named a new chief executive.

The Guinness and Johnnie Walker parent named Dave Lewis its new CEO, effective Jan. 1. Nik Jhangiani will remain as Interim CEO through the end of the year, then resume his CFO role thereafter, the company said.

Lewis, who served as Tesco Group CEO from 2014-2020, “has an outstanding track record leading global consumer businesses, growing world-class brands, and providing operational and financial rigour,” Diageo said.

Lewis, who is a non-executive board director of PepsiCo, has served as Chair of Haleon since the healthcare firm’s creation in 2022 and will be stepping down from that role on Dec. 31.

“Diageo is a world leading business with a portfolio of very strong brands, and I am delighted to be joining the team,” Lewis said. “The market faces some headwinds but there are also significant opportunities. I look forward to working with the team to face these challenges and realise some of the opportunities in a way which creates shareholder value.”

Even with today’s gains, U.S.-listed shares of Diageo have lost about a quarter of their value this year.

US Airline Stocks Rise on Hope for End to Government Shutdown

20 hr 49 min ago

Shareholders of the biggest U.S. airlines apparently think an end to the government shutdown is near.

Shares of Delta Air Lines (DAL), United Airlines (UAL), and American Airlines (AAL) were up roughly 2% apiece less than an hour before the opening bell Monday.

Hundred of flights have been canceled in recent days as the government shutdown stretched well into a second month and TSA agents and air-traffic controllers went unpaid.

For the year, shares of Delta and United are little changed, while those of American are down more than 20%.

Monday.com Stock Plummets on Soft Revenue Forecast

21 hr 43 min ago

Monday.com’s third-quarter results topped analysts’ expectations Monday. Its fourth-quarter outlook, though, sent its stock into a tailspin.

Shares of the Israeli-based project management software firm tanked about 20% in premarket trading after it reported weaker-than-expected current-quarter revenue.

Monday.com (MNDY) sees Q4 revenue of $328 million to $330 million, which would represent year-over-year growth of 22% to 23%. However, analysts surveyed by Visible Alpha are looking for $333.8 million.

For the third quarter, the company posted adjusted earnings of $1.16 on revenue that increased 26% to $316.9 million, topping consensus forecasts of $0.88 and $312.4 million, respectively.

Monday.com shares entered the session down 20% in 2025.

Stock Futures Rise on Optimism for Deal to End US Government Shutdown

22 hr 25 min ago

Futures contracts tied to the Dow Jones Industrial Average were up 0.4%.

S&P 500 futures were up 1%.

Nasdaq 100 contracts advanced 1.5%.