Wall Street has lost some altitude since 4:45 p.m., but this has not affected the Paris stock exchange, which continues to climb, reaching around 8,075 points (+1.5% to +1.6%). The gains are largely driven by banks, with Société Générale up 4%, Kering up 3.7%, and Capgemini advancing 4.1%. All this comes amid extremely light trading volumes of EUR1.3 billion--a very low figure for a move exceeding 1.5%--befitting a 'bridge' holiday period, as many French workers have taken a four-day weekend spanning the weekend and the November 11 holiday.

The Euro-Stoxx50 is even more dynamic, up 1.8%, following Frankfurt, which posted a similar gain. Meanwhile, Wall Street is cooling off after a blazing start for the Nasdaq (+2%) and S&P 500 (+1.2%). The Nasdaq has pared its gains to +1.4%, and the S&P to +0.8%, but tech giants remain red-hot, with Nvidia leading (+4.3%), AMD (+4.8%), and both Micron and Palantir up 6.5%.

Optimism is sweeping the markets as the U.S. government shutdown appears to be nearing its end after more than 40 days (41) of budget paralysis. President Donald Trump stated, "We are nearing the end of the Democrats' blockade."

Reportedly, a small group of eight Democratic senators has agreed to join Republicans in supporting a bill intended to end the federal government shutdown. The Republicans require only seven opposition votes to pass their budget allocation bill, which had previously blocked Democratic efforts to restore funding for healthcare coverage for the most vulnerable.

According to analysts, the cost of a shutdown in terms of growth is about 0.2 percentage points in annualized quarter-on-quarter terms per week. 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 closure--which prevents them from gauging the strength of U.S. growth, especially as last week saw the AI-linked stock rally stall significantly.

Reflecting the growing skepticism toward the high-tech sector, the Nasdaq fell by 3% last week, with the CBOE Volatility Index (VIX) climbing above the closely watched 20-point threshold--before dropping back to 19 on Friday and then tumbling 5.4% to 18 this Monday.

"After a rally of nearly 40% since the April low, the market just seems out of breath," notes Michael Brown at Pepperstone. "Few are eager to chase prices higher, let alone try to catch a falling knife, especially with the end of the year approaching."

"There are barely six real trading weeks left, but let's be honest: in the U.S., many investors plan to close their annual books before Thanksgiving, which is just about two weeks away," the analyst warns.

With earnings season winding down, investors will look to results from Tencent and Siemens on Thursday, and Allianz the following day. In the bond market, the 10-year Bund is steady at 2.67%, while the equivalent OAT eases by one point to 3.45%.

In London, Brent crude slips (-0.3%) to $63.50 a barrel, while WTI is down 0.5% at $59.60. Gold rises 2% to $4,090 an ounce, and Bitcoin retreats from +3% to just +0.5% around $105,180. The euro (-0.1%) is nearly flat against the greenback at $1.1560. Calm prevails in the bond market, with the 30-year yield fixed at 4.705% and the 10-year adding a symbolic 1 basis point to 4.105%.

There was a positive surprise for OATs, which eased by -2.7 points to 3.438%, while the Bund eased only -0.5 points to 2.663%.

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

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

Emeis said 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, enabling early repayment of existing loans whose outstanding balance at the end of October 2025 stood at around EUR2.9 billion.