US Market Outlook: Government Shutdown Expected to End, Indices Rise, Crypto Stocks Strong

US Stock Futures Rise Ahead of Market Open

On Monday morning, US stock futures showed positive momentum with the Dow Jones futures up 0.41%, S&P 500 futures up 0.94%, and Nasdaq futures up 1.47%.

Tech Stocks Surge

Prominent tech stocks experienced a pre-market rally, with Nvidia (NVDA) and AMD rising over 3%, while Tesla (TSLA), Google-A (GOOGL), and Oracle (ORCL) increased by more than 2%. Meta Platforms (META) rose nearly 2%, and Microsoft (MSFT) and Amazon (AMZN) were up over 1%.

Chinese Stocks Show Strength

Most popular Chinese stocks also saw gains, with Xpeng Motors (XPEV) up nearly 5%, Baidu (BIDU) and TSMC (TSM) rising over 2%, and Alibaba (BABA), Pinduoduo (PDD), and NIO (NIO) increasing by more than 1%.

Semiconductor and Crypto Stocks Rally

Storage concept stocks were up, with Micron Technology (MU) rising over 5%, and Seagate Technology (STX) and Western Digital (WDC) increasing by more than 4%. In the cryptocurrency sector, Bitmine Immersion Technologies (BMNR) surged over 7%, while IREN Ltd (IREN) and Cipher Mining (CIFR) rose nearly 5%.

Goldman Sachs Doubles SanDisk Price Target

Goldman Sachs analysts have significantly raised their earnings per share forecasts for SanDisk Corp (SNDK) for the fiscal years 2025-2027 by 69.2%, 83.6%, and 85%, respectively. The target price for the next 12 months has been increased from $140 to $280, citing strong earnings and guidance that exceeded market expectations.

JPMorgan Invests in Ethereum Leader Bitmine

JPMorgan's recent filing revealed that it holds 1,974,144 shares of Bitmine Immersion Technologies (BMNR), valued at $102 million, as of September 30.

Robinhood CEO Plans New Fund for Retail Investors

Robinhood's CEO, Vlad Tenev, announced plans to launch a new fund allowing retail investors to participate in the growth of private AI companies. The fund will be managed by Robinhood Ventures and will focus on a concentrated portfolio of top private companies.

Warren Buffett to Release Final Shareholder Letter

Warren Buffett, the 95-year-old investment mogul, will publish his last letter to shareholders today as he prepares to retire at the end of the year. This letter is expected to summarize his legendary career and provide insights into his investment philosophy.

Eli Lilly and Novo Nordisk Reach Price Reduction Agreement

Eli Lilly (LLY) and Novo Nordisk (NVO) have reached an agreement with the US government to significantly reduce the prices of GLP-1 weight loss drugs. Goldman Sachs views this as a strategic move to unlock a large market of Medicare and Medicaid patients.

TSMC Reports October Revenue Growth

TSMC (TSM) reported a 16.9% year-on-year increase in revenue for October, totaling NT$367.47 billion.

Apple Developing New Satellite Features for iPhone

Apple (AAPL) is reportedly developing new satellite connectivity features for the iPhone, including satellite navigation and photo messaging, although it currently has no plans for voice or video calls via satellite.

Beike Reports Q3 Revenue Growth

Beike (BEKE) reported Q3 revenue of 23.1 billion yuan, a 2.1% increase year-on-year.

US Government Shutdown Crisis Near Resolution

Reports indicate that the US Senate has reached an agreement to end the federal government shutdown, potentially injecting about $1 trillion back into the economy.

Job Market Signals Mixed Amid ADP Data

With the absence of the official non-farm payroll report, ADP data showed a rebound in private sector employment, adding 42,000 jobs in October.

Morgan Stanley Remains Bullish on US Stocks

Morgan Stanley's strategist Wilson believes that strong corporate earnings will support stock market growth in 2026, despite short-term pressures.

Citigroup: No AI Bubble Yet

Citigroup reports that while US stock valuations are at historical highs, strong earnings remain a key pillar, and they suggest that now is a good time to invest in AI-related stocks.