The S&P 500 (SPX) jumped higher on Monday, despite the government shutdown reaching its 34th day and nearing the record length of 35 days set in 2018-2019 during President Trump’s first term. The benchmark index is being supported by solid gains from Nvidia (NVDA) and Amazon (AMZN), with the latter signing a $38 billion deal with OpenAI to supply it with Amazon Web Services capacity powered by Nvidia GPUs.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Goldman Issues Government Shutdown Warning
Goldman Sachs has cautioned that the current government shutdown could prove to be one of the most damaging to the economy on record. The bank said the shutdown could cut fourth-quarter GDP by 1.15% on a quarter-over-quarter annualized basis, followed by a 1.3% recovery during the first quarter of 2026 as delayed federal actions are implemented. The warning comes amid government program disruptions, including SNAP benefits and air travel.
Prediction platform Polymarket assigns 52.3% odds of the shutdown extending to November 16 and beyond, with 13.3% odds that the government reopens between November 4 and 7.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.