U.S. Government Shutdown Nears an End as Stocks Rebound Late; Weekly Performance Remains Weak

Market Overview

Last Friday, despite U.S. consumer sentiment hovering near record lows, optimism over a potential resolution to the government shutdown sparked a strong late-session rebound in U.S. equities. However, for the week, the Nasdaq still posted its worst performance since April.

Among major stocks, Microsoft extended its losing streak to eight consecutive sessions — the longest since 2011. Tesla dropped over 3.6% even after shareholders approved Elon Musks compensation package. NVIDIA also fell, losing 7% for the week.

Following the release of consumer sentiment data, the 10-year Treasury yield fluctuated before ending slightly higher, while the U.S. Dollar Index recorded its third straight weekly decline. The cryptocurrency market staged a dramatic rebound on Friday — Bitcoin surged more than 4.6% from an intraday low after briefly dipping below $100,000, and Ethereum jumped over 4.3%.

Gold hovered near the $4,000 mark and ended the week higher, snapping a two-week losing streak, while crude oil prices reversed gains and finished the week down more than 1.7%.

Hot Topics Ahead• U.S. Tech Stocks Suffer Worst Week Since April

The Nasdaq Composite fell 3% for the week, marking its worst stretch since April. The combined market capitalization of eight leading AI-related firms plunged by roughly $800 billion, while the total market value of all U.S. companies tied to AI dropped nearly $1 trillion in a single week. Concerns are mounting over the massive capital expenditures in AI and uncertainty surrounding the industrys long-term prospects, sharply cooling investor sentiment.

• PBOC Adds 30,000 Ounces to Gold Reserves in October

According to the State Administration of Foreign Exchange, China‘s foreign exchange reserves rose in October, influenced by currency movements, asset price changes, and macroeconomic factors. The People’s Bank of China (PBOC) reported gold reserves of 74.09 million ounces (≈2,304.46 tons) at the end of October, an increase of 30,000 ounces (≈0.93 tons) — marking the 12th consecutive month of gold accumulation.

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17:30 EU — Eurozone November Sentix Investor Confidence Index