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Indexes up: Dow 0.04%, S&P 500 0.7%, Nasdaq 1.3%

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Metsera ( MTSR ) slumps as Pfizer wins bidding war

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Health insurers fall after Trump's comments on healthcare

funds

(Updates prices, analyst comment)

By Twesha Dikshit and Purvi Agarwal

Nov 10 (Reuters) - Wall Street's main indexes gained on

Monday, following signs of progress in Washington to end a

record government shutdown that has stalled economic data

releases and intensified concerns over the state of the economy.

On Sunday, senators advanced a House-passed bill in a

procedural vote that will be amended to fund the government

until January 30. If passed in the Senate, it would require

House approval and President Donald Trump's signature, which

could take several days.

"The government shutdown was continuing a lot longer than

people had expected. There were concerns around the economy,

about flights potentially being canceled and having a wider

impact to the economy," said Chris Zaccarelli, Northlight Asset

Management's chief information officer.

"The negative sentiment allowed some of those bearish

views of the tech sector (last week)."

Most tech stocks jumped, with Nvidia ( NVDA ) gaining 3.4%,

while Alphabet and Meta Platforms added 2.5%

and 1.5% each.

Information technology and consumer discretionary

stocks were the biggest boosts to the S&P 500 index.

Home Depot ( HD ) fell almost 2%, weighing on the Dow.

At 11:48 a.m. ET, the Dow Jones Industrial Average

rose 7.14 points, or 0.02%, the S&P 500 gained 47.90

points, or 0.71%, and the Nasdaq Composite gained 310.37

points, or 1.35%.

The CBOE volatility index eased 0.8 points to

18.26, retreating from a three-week high touched on Friday.

The small-cap Russell 2000 gained 0.6%, while a

broader semiconductor index rose 2.1%.

Airlines came under pressure as government-directed flight

cuts and air traffic staffing absences continue to disrupt U.S.

air travel. United Airlines and American Airlines ( AAL )

dropped over 1% each.

On betting website Polymarket, predictions for an end to the

shutdown this week stood at 85%.

The longest federal shutdown in history has created a data

gap for the Federal Reserve and markets alike, leaving the

dependent on private data that has given a mixed picture of the

economy.

Some Fed officials reiterated their caution regarding the

monetary policy decision at the central bank's next meeting,

while Fed Governor Stephen Miran repeated his call for a big

rate cut.

Optimism around artificial intelligence has fueled a bull

run in U.S. stocks this year, but concerns around monetization

and circular spending within the sector drove a bout of selling

in tech stocks last week. The Nasdaq marked its worst

performance in over seven months.

Meanwhile, the third-quarter earnings season approached its

conclusion. Of the 446 S&P 500 companies that have reported, 83%

have delivered better-than-expected earnings, according to data

compiled by LSEG.

Shares of health insurers dropped after the U.S. Senate

struck a deal to end the 40-day federal shutdown without

extending Affordable Care Act subsidies, setting up a December

vote on the issue instead.

Centene ( CNC ) fell 8.5% to the bottom of the S&P 500,

while Humana and Elevance Health ( ELV ) lost about 4%

each.

Metsera ( MTSR ) slumped 15% as Pfizer won a $10 billion

bidding war to acquire the company.

Eli Lilly ( LLY ) shares gained 4.9% to hit an intraday

record high after Leerink Partners upgraded its rating on the

stock.

Advancing issues outnumbered decliners by a 1.77-to-1

ratio on the NYSE and by a 1.65-to-1 ratio on the Nasdaq.

The S&P 500 posted 20 new 52-week highs and seven new

lows, while the Nasdaq Composite recorded 75 new highs and 92

new lows.