Stocks Rally on Hopes for Shutdown Deal | Closing Bell

Market Overview - The Nasdaq increased by over 2% and the S&P 500 rose by 1.5% on November 10th, indicating a risk-on sentiment in the market [2][6] - The semiconductor sector showed strong performance, with 27 out of 30 stocks in the space rising [2][11] Sector Performance - Information Technology sector gained approximately 2.7%, while Communication Services rose by about 2.5% [8] - Consumer Staples, Real Estate, and Utilities sectors underperformed, aligning with the overall risk-on behavior [8] Notable Gainers - Micron Technology was a top performer, up about 6.5% during the session, continuing its upward trend despite previous declines [11][12] - Palantir shares saw a significant rebound, closing nearly 9% higher, marking its best day since April 9th [9] - Elf Beauty rose over 8% following its official launch at Ulta Beauty in Mexico [13] Notable Decliners - Centene shares fell by 8.8%, becoming the worst performer in the S&P 500 due to concerns over the Affordable Care Act amid government shutdown discussions [14][15] - American Airlines experienced a decline of 2.5%, reporting significant operational challenges due to the government shutdown, which resulted in 1,400 flight cancellations [19] - Novo Nordisk's shares dropped close to 15% after it declined to raise its offer in a bidding war for a weight loss drug company, with Pfizer emerging victorious [20] Company Earnings and Forecasts - Paramount Skydance's shareholder letter indicated over $3 billion in efficiencies and plans to reduce its workforce by 1,600 employees [22][24] - The company is also planning price increases in the U.S. in early 2026 [23] - RealReal reported a narrower adjusted loss per share than expected and raised its full-year revenue forecast, with shares up about 10% after hours [25]