| Name | Daily Close | Daily Change | Daily Change (%) |
|---|---|---|---|
| Dow | 47,927.96 | 559.33 | 1.18% |
| S&P 500 | 6,846.61 | 14.18 | 0.21% |
| Nasdaq | 23,468.30 | -58.87 | -0.25% |
| VIX | 17.28 | -0.32 | -1.82% |
| Gold | 4,149.50 | 33.2 | 0.81% |
| Oil | 61.01 | -0.03 | -0.05% |
OVERVIEW OF THE US MARKET
Wall Street closed higher on November 11, 2025, buoyed by optimism that the US government shutdown—the longest in history—is nearing an end, potentially unlocking delayed economic data to guide Federal Reserve policy. The Dow Jones Industrial Average surged 1.18% to 47,927.96, marking its strongest gain in weeks, while the S&P 500 edged up 0.21% to 6,846.61, erasing earlier losses amid broad-based buying. The Nasdaq Composite slipped 0.25% to 23,468.30, weighed down by tech sector weakness as investors digested mixed corporate developments.
Sector performance highlighted a rotation into defensive and cyclical areas, with Health Care leading gains at 2.33%, driven by Pfizer’s 4.59% rise on positive updates. Energy climbed 1.29% amid rebounding oil prices, and Consumer Staples advanced 1.20%. Information Technology lagged with a 0.72% drop, pressured by Nvidia’s 2.96% decline after SoftBank Group sold its entire stake for $5.83 billion to fund AI ventures. Other actives included Opendoor Technologies up 6.40% on heavy volume of 224.9 million shares, and BigBear.ai Holdings gaining 6.13%.
The Senate’s passage of a temporary funding bill, set for House consideration as early as Wednesday, fueled market relief. President Donald Trump has endorsed the measure, which would reopen most agencies through January 30. This comes amid private data like ADP’s report showing labor market cooling, heightening anticipation for official releases such as the delayed September jobs report, potentially out early next week. Analysts like Jim Reid at Deutsche Bank noted parallels to the 2013 shutdown, suggesting quick data flow could clarify Fed rate-cut odds.
Corporate earnings painted an upbeat picture, with FedEx jumping over 5% on improved profit forecasts, signaling economic resilience. Mentions of “economic slowdown” in calls hit lows not seen since 2007, per Bloomberg data, despite the shutdown’s data blackout. Strategists remain bullish: JPMorgan’s Andrew Tyler called for buying the dip, citing liquidity boosts from reopening, while UBS’s Ulrike Hoffmann-Burchardi highlighted Fed easing, robust profits, and AI spending as rally drivers.
Still, volatility lingers with Nvidia’s earnings on November 19 looming, and Bitcoin down 2.7% amid crypto fatigue. Historical data from CFRA’s Sam Stovall shows the S&P 500 averaging 2.3% gains a month post-shutdown, potentially pushing it toward 7,000 by mid-December. Investors eye upcoming data deluge, including non-farm payrolls on November 14 and core CPI on November 20, for Fed cues in a year of high returns and elevated valuations.
OVERVIEW OF THE AUSTRALIAN MARKET
Australian shares closed lower on November 11, 2025, dragged by a sharp sell-off in financials amid banking updates, though resources and utilities provided some offset. The S&P/ASX 200 dipped 0.19% to 8,818.8, while the All Ordinaries fell 0.12% to 9,098.4. The session started higher on US shutdown optimism but reversed as Commonwealth Bank tumbled, wiping out broader gains despite positive consumer sentiment data.
Financials led declines, down 1.97%, with CBA plunging 6.6% after its September quarter update showed $2.6 billion unaudited cash profit but flagged rising costs and net interest margin pressure. Bendigo and Adelaide Bank dropped 8.5% on a 3.2% earnings slip, while NAB fell 1.3%. Westpac edged up, and ANZ hit a record above $38. Investors rotated into resources, up 1.01%, buoyed by lithium and gold strength. Liontown Resources surged 7.8%, Pilbara Minerals 7.5%, and Northern Star over 3% as gold hit three-week highs near $A6,340/oz.
Utilities rose 1.71%, Energy 1.33% with Santos up 2.5% despite oil dips, and Real Estate gained 1.15%. Health Care slipped 0.03%, and Information Technology fell 0.30%, with Life360 down 5.2% despite upbeat Q3 but amid a $A183.8 million takeover flag. Standouts included Lights & Wonder rocketing 11% post-quarterly rally, and Mayfield Group up 18.1% on placement news.
Economic data boosted sentiment: Westpac Consumer Sentiment jumped 12.8 points to 103.8, the first optimistic reading in 44 months, driven by home price gains. NAB Business Confidence eased to 6 but conditions improved to 9, with capacity utilization at 83.4% hinting at inflation risks. AMP’s My Bui noted recovery underway, likely keeping the RBA on hold next month, though softening labor signals loom.
Commentary highlighted fund flows into gold and resources, funding sales in health and tech. Pepperstone’s Chris Weston cited end-of-rate-cut cycle pressures on banks, expecting competition to rise. Broader optimism ties to US reopening, potentially rebounding global growth, but local budget concerns and China’s data dump Friday add caution.
Upcoming: October employment (+20.3k, unemployment 4.4%) on November 13, seen as bullish for spending but watchful for RBA. NZX 50 fell 0.10%, Nikkei 0.14%. AUD/USD eased 0.21% to 0.6522, influenced by US yields and dollar strength.
