US markets opened Monday with renewed optimism as investors reacted to progress toward ending the government shutdown and a series of major corporate and political developments.
Semiconductor stocks led early gains, while key news from Apple, Pfizer, and Washington added to the day’s busy agenda.
Nvidia rises on shutdown progress and TSMC meeting
Nvidia shares climbed 5.1% to $197.86 on Monday, rebounding after a 9% drop over the past week.
The stock’s recovery mirrored broader strength across semiconductor names, with Advanced Micro Devices up 5% and Broadcom rising 2.6%.
The gains came as investors looked ahead to Nvidia’s November 19 earnings report, expected to reflect strong demand for artificial intelligence (AI) infrastructure.
Analysts at UBS recently raised their forecasts for global AI capital expenditure to $423 billion in 2025 and $571 billion in 2026, up from prior estimates of $375 billion and $500 billion.
Over the weekend, CEO Jensen Huang met with senior executives at Taiwan Semiconductor Manufacturing Co. (TSMC), Nvidia’s key chip supplier.
Taiwanese media reported that Nvidia’s growing AI chip orders could prompt TSMC to boost production of its 3-nanometer wafers by as much as 50%.
Analysts remain bullish on Nvidia’s outlook. Citi raised its price target to $220 from $210, forecasting “beat and raise” results for the upcoming quarter.
UBS and Melius Research also reiterated Buy ratings, citing strong hyperscaler demand and next-generation chip sales.
Apple delays next iPhone Air amid weak sales
Apple will delay the release of its next iPhone Air model, originally slated for fall 2026, according to The Information.
The decision follows weaker-than-expected sales of the current iPhone Air, launched in 2025 as a thinner, lighter version of its flagship series.
The model, which sacrifices battery life and camera features for a slimmer design, has struggled to gain traction.
Apple has also faced headwinds in China, where the device is sold exclusively with eSIM connectivity.
Metsera shares drop after Pfizer takeover agreement
Shares of biotechnology firm Metsera Inc. plunged 15% to $70.66 after the company accepted Pfizer Inc.’s $10 billion takeover offer, ending a bidding war with Novo Nordisk.
Under the deal, Pfizer will pay $65.60 per share in cash and offer an additional contingent value right worth up to $20.65 per share.
The acquisition strengthens Pfizer’s obesity drug portfolio amid intense competition in the weight-loss therapeutics market.
Trump proposes using tariff funds to reduce national debt
President Donald Trump announced a new plan to use excess tariff revenues to pay down the national debt.
He said leftover funds from $2,000 payments to low and middle-income Americans, financed by tariff income, would be directed toward debt reduction.
The announcement followed his weekend post on Truth Social, unveiling the payments, described as “dividend-like checks” for American citizens.
Jeffries presses for ACA tax credit extension
House Minority Leader Hakeem Jeffries reiterated Democrats’ push to extend Affordable Care Act tax credits, warning that millions could face steep premium increases.
Jeffries criticized Republicans for excluding the measure from the Senate’s current proposal to end the shutdown, which advanced in a 60–40 vote on Sunday.
“We’ll continue to wage this fight,” he said, calling the potential cost hikes of $1,000–$2,000 per year “unacceptable.”
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