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Dow notches record high close, traders bet on end to government shutdown

12 November 2025 09:33 (UTC +04:00)

The Dow Jones Industrial Average surged to a record high close on Tuesday, lifted by progress toward ending the longest U.S. government shutdown, while Nvidia and other artificial intelligence-related companies fell on renewed concerns about elevated valuations, APA reports, citing Reuters.

Fueling gains in the Dow and S&P 500 index, members of the U.S. House of Representatives headed back to Washington after a 53-day break for a vote that could end the shutdown, with the Polymarket betting platform fully pricing in a resolution this week.

"Expectations are that the shutdown is over. ... People will get back to work, economic data will be released once again and uncertainty will be behind us," said CFRA Chief Investment Strategist Sam Stovall.

U.S. President Donald Trump warned of an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers law to impose sweeping tariffs.

The S&P 500 climbed 0.21% to end at 6,846.61 points.

The Nasdaq declined 0.25% to 23,468.30 points, while the Dow Jones Industrial Average rose 1.18% to 47,927.96 points.

The Dow has gained almost 13% in 2025, lagging the S&P 500's 16% rise and the Nasdaq's nearly 22% increase.

Ten of the 11 S&P 500 sector indexes rose, led by health care (.SPXHC), up 2.33% and lifted by gains of more than 2% each in Eli Lilly (LLY.N), Johnson & Johnson (JNJ.N), and AbbVie (ABBV.N).

Occidental Petroleum (OXY.N), edged up 0.1% after the shale producer beat third-quarter profit expectations.

Paramount Skydance (PSKY.O), surged almot 10% after the newly merged media firm announced more cost cuts and plans to invest $1.5 billion in its streaming and studio divisions.

Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX), by a 2.2-to-one ratio.

The S&P 500 posted 30 new highs and two new lows; the Nasdaq recorded 104 new highs and 128 new lows.

U.S. bond markets were closed for the Veterans Day holiday. Volume on U.S. exchanges was light, with 15.3 billion shares traded, compared with an average of 20.8 billion shares over the previous 20 sessions.