Stock Market Live November 11: S&P 500 (VOO) Hits Pause on Shutdown-End Rally
Quick Read
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The U.S. Senate voted to end the government shutdown last night.
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The shutdown won’t actually end until the U.S. House of Representatives does likewise; a House vote is expected as early as Wednesday.
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CF Industries Gets an 'A'
Wells Fargo analyst Michael Sison initiated coverage on fertilizer producer and S&P 500 component company CF Industries (NYSE: CF) with an overweight rating and a $100 price target this morning.
Sison cited “a constructive nitrogen outlook, w/ industry leading free cash flow funding shareholder returns” as key advantages for CF, and values the fertilizer stock at approximately 7x estimated 2026 EBITDA. The analyst also raised his forecast for Q4 earnings by 20 cents, to $2.09 per share.
CF industries is up about 0.4% on the news — not a lot, but better than the 0.3% decline on the Voo.
Pushing Instacart
BMO Capital analyst Brian J. Pitz upgraded Instacart (Nasdaq: CART) to outperform this morning, with a $58 price target, following yesterday’s earnings beat. Pitz called Instacart’s results “solid” and its guidance conservative, and noted that the stock is trading at discounts to its historical P/E and EV/EBITDA.
Instacart stock is up more than 5% in response to the upgrade, but the Voo is now down 0.3%.
A Positive Call from Vodafone
European telecom giant Vodafone Group (Nasdaq: VOD) reported its H1 earnings this morning, 2.1 billion euros for the first half, and revenue was 19.6 billion euros.
This article will be updated throughout the day, so check back often for more daily updates.
It’s the beginning of the end… of the Great Government Shutdown of 2025.
Last night, in a 60-40 vote, the U.S. Senate passed several bills to (1) fund SNAP, WIC, and veterans’ benefits through the end of fiscal 2026; (2) restore funding generally across the government through January 30; and (3) and reverse federal government employee layoffs that had taken place earlier in the shutdown. The funding bills next go to the U.S. House for approval, with a vote expected as early as Wednesday, and President Trump is expected to then sign the combined legislation into law, ending the government shutdown that has already lasted 41 days, and today enters its 42nd.
The Vanguard S&P 500 ETF (NYSEMKT: VOO) reacted positively to this prospect yesterday, closing up nearly 1.6%, but today it’s giving back some of those gains, and opening 0.2% lower.
Earnings
Not just the shutdown, but earnings season also appears to be winding down, with the majority of S&P 500 companies (and companies generally) having already reported their Q3 results. As for the stragglers…
Educator Chegg (NYSE: CHGG) reported breakeven earnings last night, six cents better than the $0.06 per share loss that analysts expected. Revenue was also a positive surprise at $77.7 million for the quarter, and Chegg stock is up 5% this morning.
Advertising company PubMatic (Nasdaq: PUBM) beat earnings by a quarter last night with a surprise profit of $0.03 per share. Quarterly revenue of $68 million was $4 million more than expected, and Q4 guidance was right on target with analyst forecasts at $75 million.
PubMatic stock is up nearly 29%.
Space stock Rocket Lab (Nasdaq: RKLB | RKLB Price Prediction) also surprised to the upside with a $0.03 per share loss, better than the $0.10 per share loss that had been expected. Revenue of $155 million beat forecasts by $2.5 million, and Rocket Lab stock is up better than 8% despite delaying its Neutron launch into 2026.
Joel South has been an avid investor and financial writer for over 15 years, publishing thousands of articles analyzing stocks, markets, and investment strategies across multiple leading financial media platforms. He spent 12 years at The Motley Fool, where he worked as an investment analyst and Bureau Chief before ascending to direct the Fool.com investing news desk, overseeing editorial operations and content strategy. During his tenure, Joel co-hosted an investing podcast and became a recognized voice in financial media through numerous TV and radio appearances discussing stock market trends and investment opportunities.
Currently serving as General Manager and Managing Editor at 24/7 Wall Street, Joel has published hundreds of in-depth analyses focusing on large-cap stocks, dividend-paying equities, and market-moving developments. His comprehensive coverage spans earnings previews, price predictions, and investment forecasts for major companies across all sectors—from technology giants and semiconductor manufacturers to consumer brands and financial institutions. Joel's expertise encompasses t fundamental analysis, options market interpretation, institutional investor behavior, and translating complex market dynamics into clear, actionable insights for individual investors.
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