Stocks Settle Mostly Higher as Government Poised to Reopen

Government and Economic Policy - A group of eight Senate Democrats voted with Republicans to advance a bill to reopen the government, which includes full-year funding for some departments and pay for furloughed workers [1] - The White House indicated that the monthly October payrolls report and consumer price index are unlikely to be released due to the government shutdown, affecting market expectations [7] Mortgage and Housing Market - US MBA mortgage applications increased by 0.6% for the week ending November 7, with the purchase mortgage sub-index rising by 5.8% and the refinancing sub-index declining by 3.4% [2] Corporate Earnings - Q3 earnings for S&P 500 companies showed a 14.6% increase, significantly surpassing expectations of 7.2%, with 82% of reporting companies exceeding forecasts, marking the best quarter since 2021 [8] Stock Market Performance - US stock indexes mostly rose, with the S&P 500 reaching a one-week high and the Dow Jones Industrial Average achieving a new all-time high, driven by anticipation of the government reopening [5] - Semiconductor stocks, particularly Advanced Micro Devices, saw significant gains, with AMD jumping by 9% due to projected sales growth [4][12] - Airline stocks also rose, with United Airlines up more than 5% following a ratings upgrade, and Delta Air Lines up more than 4% amid positive travel demand forecasts [13] Sector Performance - The Magnificent Seven technology stocks experienced weakness, impacting overall market gains, with notable declines in Tesla and Meta Platforms [14] - Energy producers faced declines after WTI crude oil prices fell over 4% to a three-week low, affecting major companies like Halliburton and Chevron [15] Notable Company Movements - On Holding's stock surged over 17% after raising its full-year adjusted EBITDA margin forecast, while Bill Holdings Inc. rose over 11% amid pressure from an activist investor [16] - Clearwater Analytics Holdings increased by more than 7% after expressing interest in a potential sale [17]