Stock indexes are up today, with the S&P 500 and Nasdaq 100 hitting new highs. Advanced Micro Devices surges +6% due to the AI spending boom. The US government shutdown continues, delaying key economic reports. Gold and Bitcoin gain as investors seek haven assets. Overseas markets are mixed, with the Euro Stoxx 50 up +0.16%.

Expectations of Fed easing due to the shutdown and hawkish comments weigh on stocks. Rising corporate earnings are positive, but Q3 profit growth is the smallest in two years. Fed likely to cut rates by -25 bp. T-notes recover on shutdown fears. European bond yields rise. German factory orders fall -0.8% m/m.

US stock movers: AMD up +6% after upgrade, Dell up +5% on AI demand, IBM integrates language models, Veeva Systems up +3%, ICE in talks for $2 billion investment, Constellation Brands beats sales expectations, Netflix up +1%. Aehr Test Systems down -26%, Ford Motor down -5%. Homebuilders downgraded.

Earnings reports today from McCormick & Co Inc, Penguin Solutions Inc, and TuHURA Biosciences Inc. Markets await updates on tariffs, trade, and the government shutdown. Fed minutes on Wednesday, Powell speech on Thursday, Michigan consumer sentiment on Friday. Gold outlook bullish, with China buying.

Read more at Nasdaq: Stocks Supported by the AI Spending Boom