Dow, S&P 500, Nasdaq hold steady after shutdown optimism sparks Wall Street rally

US stock futures were little changed Monday night as investors took a breather following a rally fueled by optimism that Washington may soon end the record-breaking government shutdown.

Futures attached to the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) all held near the baseline.

All three major indexes advanced sharply to start the week. The Nasdaq Composite (^IXIC) surged 2.3% in its largest single day gain since late May as investors piled back into artificial intelligence names following last week’s tech sell-off.

The rebound came as lawmakers appeared closer to striking a deal to reopen the federal government. The Senate looked set to vote Monday evening on a bipartisan funding measure that would keep agencies open through January and reverse some recent furloughs. The bill omits Democrats’ push to tie government funding to an extension of Affordable Care Act subsidies, instead scheduling a separate vote on those tax credits in December.

But the prospect of a shutdown resolution helped lift investor sentiment after weeks of uncertainty. Nvidia (NVDA) led the charge, soaring almost 6% and accounting for more than a quarter of the S&P 500’s gains Monday. Alphabet (GOOG) added 4%, while Microsoft (MSFT) rose 1.9%, snapping an eight-day losing streak.

Meanwhile, earnings season continues to make waves, with CoreWeave (CRWV) dropping over 5% in after-hours trading Monday after its release. Investors are looking ahead to Disney (DIS), Sony (SONY) and Cisco (CSCO) all releasing reports this week.