Stock Futures Rise as November Trading Begins Amid Government Shutdown
Stock futures edged higher Monday morning, boosted by tech stocks, as investors began the new month of trading while navigating a continuing federal government shutdown.
S&P 500 futures were up 0.4%, and Nasdaq-100 futures gained 0.6% as of 11:53 AM EST. The Dow Jones Industrial Average futures rose 44 points, or 0.1%. Micron Technology led gains among chipmakers, rising 4%, while Nvidia and AMD each saw increases of about 1%. The VanEck Semiconductor ETF (SMH) climbed 1%, and tech companies Meta Platforms and Palantir also posted premarket gains. This positive start to November follows a strong October for Wall Street, with the S&P 500, Dow, and Nasdaq Composite rising 2.3%, 2.5%, and 4.7% respectively.
The recent gains have been fueled by ongoing momentum in artificial intelligence investments and easing trade tensions between the U.S. and China. More than 300 companies within the S&P 500 have already reported third-quarter earnings, with over 80% exceeding expectations, according to FactSet. Investors are anticipating further earnings reports this week from key players in the AI sector, including Palantir and AMD. Strong corporate earnings are a key indicator of overall economic health, influencing investor confidence and market direction.
Fundstrat’s head of research, Tom Lee, noted several supporting factors, stating, “Fundamentally, the U.S. earnings picture remains strong and supported by these 3 factors: AI spending visibility remains strong and Amazon’s strong 3Q25 report is the latest evidence of this; financials are driving innovation via blockchain; the Fed is dovish and lowering interest rates; and QT (quantitative tightening) is ending Dec 1.” Historically, November is the strongest month for the S&P 500, averaging a 1.8% gain, according to the Stock Trader’s Almanac. However, the ongoing government shutdown is delaying the release of crucial economic data, including the monthly jobs report, and the Supreme Court is scheduled to hear arguments regarding the legality of the Trump administration’s tariffs.
Officials indicated they will continue to monitor economic data releases as they become available and assess the impact of the government shutdown on market stability.
