Palantir explodes amid hopes of ending the shutdown; Shares of health insurance companies decline

The data analysis software giant has gotten a boost from hopes that its main client, the federal government, is on its way back to business as usual. Meanwhile, health insurance companies have come under pressure after President Donald Trump’s comments about changing the process of subsidizing health care costs.

Major US stock indexes rose on optimism that Congress may be close to reaching an agreement to end the US government shutdown. The Dow Jones ended Monday’s session up 0.8%, while the S&P 500 rose 1.5% and the tech-heavy Nasdaq rose 2.3%. See here for more Investopedia In today’s market news.

Shares of Palantir Technologies (PLTR) rose nearly 9%, top-performing the S&P 500 on Monday. The data analysis software company counts the US government as a major customer, and has signed numerous contracts with the Department of Defense, the Department of Homeland Security, and other federal agencies. If an agreement is reached to end the government shutdown soon, Palantir will benefit.

Shares of data storage company Western Digital (WDC) jumped nearly 7% after a price target boost and bullish comments from analysts at Loop Capital. The research firm said it expects growing demand for hard drive capacity through 2026 and strong pricing trends. Loop Capital also boosted its price target on shares of data storage competitor Seagate Technologies (STX), which rose 5.2% on Monday.

Bullish analyst comments also contributed to a positive trading session for the world’s largest company by market capitalization. Citi raised its price target on shares of AI chip leader Nvidia (NVDA) to $220 from $210, noting that demand for its processors remains strong. Analysts also highlighted competitive advantages including Nvidia’s software ecosystem and strong relationships with cloud computing leaders. Nvidia is scheduled to release its latest quarterly results on November 19. Nvidia shares added about 6% to close around $199 on Monday.

Health insurance stocks fell after President Trump said in a social media post over the weekend that federal health care subsidies should be paid directly to individuals rather than insurance companies. Shares of Centene (CE), which has significant exposure to the Affordable Care Act market, fell nearly 9%, losing the most of any stock in the S&P 500. Molina Healthcare (MOH) shares fell 7.3%, while Humana (HUM) shares fell 5.4% and Elevance Health (ELV) shares lost 4.4%.

Ball Corp. announced. (BALL), maker of aluminum cans, announced a change in its top executive position. CEO Dan Fisher has resigned from the company, effective immediately, and Ronald Lewis has assumed leadership of the company. Lewis was previously CEO of Supply Chain and Operations at Ball. The company’s shares fell by 5.2%.