The Paris stock exchange kicked off the week on a positive note, climbing 1.4%--a gain that has held steady since 10:45 a.m., with the CAC40 hovering around 8,060 points. Banks were the main drivers, with Société Générale up 3.8%, Edenred up 3.3%, and Capgemini gaining 3.1%. Trading volumes, however, remained skeletal at just EUR1 billion, reminiscent of a holiday bridge--an apt comparison, as many French investors are enjoying a four-day weekend, stretching over the weekend and the November 11 holiday.

The Euro-Stoxx50 outpaced even Paris with a 1.7% surge, mirroring gains in Frankfurt and a roaring start on Wall Street, where the Nasdaq soared 2% and the S&P500 rose 1.2%. Tech giants led the charge: Nvidia jumped 4.7%, AMD 6%, Micron 7.5%, and Palantir 9%.

A wave of optimism is sweeping through global markets as the US government shutdown appears close to resolution after more than 40 days (41) of budget paralysis. President Donald Trump declared, "We are nearing the end of the Democrat blockade."

Reportedly, a small group of eight Democratic senators has agreed to join Republicans in supporting a bill aimed at ending the federal government shutdown. The Republicans require only seven opposition votes to pass their budget appropriation bill, which had previously stalled due to Democratic demands to restore funding for healthcare coverage for the most vulnerable Americans.

Analysts estimate that each week of a government shutdown shaves about 0.2 percentage points off annualized quarter-on-quarter growth. The current shutdown could already be dragging fourth-quarter growth down by more than a full point. Investors are also lamenting the lack of economic data releases, another consequence of the federal closures, which leaves them unable to gauge the strength of US growth--especially after last week's stalling momentum in AI-related stocks.

Reflecting growing skepticism toward high-tech stocks, the Nasdaq dropped 3% last week, while the CBOE's closely watched VIX volatility index climbed above 20 points--before falling back to 19 on Friday and dropping a further 5.4% to 18 this Monday.

Michael Brown of Pepperstone notes, "After a nearly 40% rally from the April lows, the market seems to have run out of steam. Few are eager to chase prices higher--or worse, try to catch a falling knife--especially with year-end approaching."

He adds, "There are barely six real trading weeks left, but let's be honest: in the United States, many investors plan to wrap up their annual accounts before Thanksgiving, which is in about two weeks."

With earnings season drawing to a close, investors will turn their attention to results from Tencent and Siemens on Thursday, followed by Allianz on Friday. In the bond market, the 10-year Bund remains steady at 2.67%, while the equivalent French OAT eases by one point to 3.45%.

In London, Brent crude is up 0.8% at $64.2 a barrel. Gold has risen 2% to $4,080 an ounce. The euro (-0.1%) is almost unchanged against the dollar at $1.1560. Calm prevails in the bond market, with the 30-year US Treasury holding at 4.705% and the 10-year adding a symbolic 1 basis point to 4.105%.

French OATs saw a pleasant surprise, easing by 2.7 basis points to 3.438%, while the Bund softened by just 0.5 points to 2.663%.

In French corporate news, Eiffage, through Eiffage Concessions, announced it has signed a DBFM (Design, Build, Finance, and Maintain) contract for the future correctional facility in Vresse-sur-Semois, in Belgium's Wallonia region.

Vallourec has announced a $48 million investment to expand its operations in Youngstown, Ohio, as part of a broader commitment to US production.

Emeis reported it has reached a preliminary agreement to refinance the bank debt of Emeis SA and its subsidiaries Niort 94 and Niort 95. The refinancing will be carried out through new financing of at least EUR3.15 billion, allowing for the early repayment of previous loans, which had an outstanding balance of approximately EUR2.9 billion as of the end of October 2025.