U.S. Equities Rise Amid Shutdown Optimism; Palantir Soars, Health Insurers Slump
Major U.S. equities indexes advanced Monday afternoon as Optimism grew that Congress might soon reach a spending deal to end the record government shutdown. The S&P 500 gained nearly 1%, while the Nasdaq climbed over 1%. The Dow also edged higher.
Palantir Technologies (PLTR) led the S&P 500's gains, with its software solutions for government agencies positioned to benefit from a resolution to the shutdown. Mizuho Securities' bullish commentary on Micron Technology (MU) sent shares higher, citing improved demand and pricing dynamics for the chipmaker.
Health insurers faced headwinds after President TRUMP suggested redirecting federal healthcare subsidies directly to consumers rather than through insurers. Centene (CNC) and peers declined sharply on the news.
