🚀 US Government Shutdown Ends

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Market Overview
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Year To Date Performances:

1. The U.S. Senate voted 60–40 Monday night to end the longest government shutdown in American history, passing a bill to fund the federal government through January after more than six weeks of stalemate. The deal, backed by most Republicans and a handful of Democrats, now heads to the House, where Speaker Mike Johnson has called lawmakers back to Washington for a Wednesday vote. President Trump has said he supports the agreement, which restores pay for federal workers, funds SNAP benefits through September, and launches a bipartisan budget process to prevent future shutdowns. The main sticking point remains Democrats’ demand for a December vote to extend Affordable Care Act subsidies, a provision Johnson has yet to endorse. If passed, the bill would mark a long-awaited end to the shutdown that has crippled air travel, delayed benefits, and pushed food banks into “disaster response mode.”

2. SoftBank has sold its entire 32.1 million–share stake in Nvidia for $5.83 billion, part of a broader effort to raise capital for its $22.5 billion investment in OpenAI and other AI ventures. The Japanese conglomerate also sold a portion of its T-Mobile holdings for $9.17 billion and leveraged its stake in Arm to secure additional funding. Despite the sale, SoftBank said it remains “all in” on AI and continues to work closely with Nvidia through ventures like the $500 billion Stargate data center project. Analysts said the move wasn’t a signal of concern about Nvidia’s valuation but a matter of liquidity, as SoftBank invests more in AI infrastructure, robotics, and large language models. Following the new investment, SoftBank’s ownership in OpenAI will rise from 4% to 11%, with potential for further increases depending on future valuations.

3. Wall Street is drawing a sharp line between tech giants and smaller players when it comes to AI spending. While megacaps like Alphabet and Amazon were rewarded for raising their capital expenditure forecasts to support AI infrastructure, mid-sized firms such as DoorDash, Duolingo, and Roblox saw their stocks tumble after announcing similar plans. Investors appear wary that smaller companies’ AI bets will erode short-term profitability without guaranteeing new revenue, whereas hyperscalers are seen as better positioned to convert AI investments into growth. DoorDash fell 17% after revealing plans to spend hundreds of millions on technology and acquisitions, while Duolingo lost a quarter of its value amid a shift toward user growth over monetization. Analysts say the sell-off reflects skepticism toward “investment cycles” in companies without proven AI revenue streams—highlighting how, in the current market, scale determines whether AI spending is seen as visionary or reckless.

   Headlines

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   2. Trump is floating the idea of a $2,000 tariff rebate check, distributing the money collected from tariffs back to Americans.