Dateline: Tuesday, November 11, 2025
U.S. stock futures edged lower early Tuesday, pausing after Monday’s tech-fueled surge, as investors weighed the U.S. Senate’s passage of a funding package to end the longest government shutdown on record and awaited action in the House of Representatives. S&P 500 and Nasdaq 100 futures were modestly in the red in early trade, while Dow futures were little changed.
European equities advanced, supported by optimism that Washington’s impasse is close to resolution; the pan‑European Stoxx 600 hit a two‑week high and the U.K.’s FTSE 100 notched another record. Asian markets were mixed and the dollar stayed firm.
Heads‑up for traders: U.S. equity markets are open on Veterans Day, but the U.S. bond market observes the holiday and is closed today.
Key takeaways
- Futures cool off: S&P 500 and Nasdaq 100 futures slipped about 0.2%–0.3% pre‑market; Dow futures were flat to slightly lower.
- Shutdown progress: The Senate passed a package to restore funding (through late January 2026) and send it to the House, lifting risk appetite globally even as final approval is still pending.
- Monday’s big bounce: The Nasdaq jumped 2.27% for its best day since May, the S&P 500 rose 1.54% to 6,832.43, and the Dow added 0.81% to 47,368.63, led by AI‑linked heavyweights.
- Veterans Day setup: Stocks trade on a normal schedule; Treasurys are closed per SIFMA’s holiday calendar.
- Oil steady: Crude hovered near $60–$64 as oversupply concerns offset sanction risks.
What’s driving markets today
Shutdown endgame in sight: After 40 days of partial closure, the Senate approved a deal that would reopen federal agencies through January and restart the flow of official economic data once enacted. The House is expected to take up the measure, with market sentiment hinging on the timeline for final passage.
Positioning after a powerful rebound: Monday’s rally—powered by AI leaders such as Nvidia and Palantir—followed signs of progress in Washington. Strategists say the bounce also reflected buying after last week’s tech pullback.
Rates backdrop: With the cash Treasury market closed for Veterans Day, fixed‑income price discovery is muted. Heading into the holiday, the 10‑year yield finished Monday around 4.12% as investors rotated into risk assets.
Global market check
- Europe: Stoxx 600 added ~0.7% to a two‑week high; FTSE 100 hit a record as a softer pound and rate‑cut bets supported U.K. blue chips.
- Asia: Mixed performance as investors balanced shutdown optimism with valuation worries in tech; the dollar firmed.
- Commodities: Brent hovered near the mid‑$63s and WTI near $60 on a tug‑of‑war between oversupply concerns and geopolitical sanction risks.
Stocks to watch
- CoreWeave (CRWV): Shares fell ~9% pre‑market after the Nvidia‑backed AI cloud provider trimmed its annual revenue outlook due to a data‑center delay, spotlighting execution risks in large‑scale AI infrastructure.
What’s next
- House vote on funding: The timing of the House’s action is the day’s biggest macro swing factor. Passage would end the shutdown, unlock delayed economic releases, and reduce near‑term policy uncertainty.
- Earnings in focus:Cisco (Nov. 12, after the bell) and Disney (Nov. 13, before the open) headline a lighter but market‑moving earnings slate in the back half of the week.
Monday’s scorecard (for context)
The S&P 500 closed +1.54% (6,832.43), Nasdaq +2.27% (23,527.17)—its best day since May 27—and the Dow +0.81% (47,368.63). Gains were broad, with semiconductors and megacap tech out in front as shutdown‑resolution hopes improved risk appetite.
The bottom line
After a standout rally to start the week, Tuesday’s modest pullback in futures suggests investors are catching their breath while they wait for the House to seal the shutdown deal. With bonds closed for the holiday and crude steady, equities are likely to take cues from Washington’s timetable and this week’s marquee earnings.
Disclosure & notes
Market levels and futures move quickly and may change during the trading day. This report reflects conditions and reporting available as of the morning of Tuesday, November 11, 2025 from major outlets including Reuters, Bloomberg and others.
