U.S. Government Shutdown May Have a Turnaround; Dow Jones Up 74 Points, Nasdaq's Decline Narrowed to Only 0.2%

The U.S. federal government shutdown may have a turning point, as Senate Minority Leader Chuck Schumer proposed a new plan to the Republicans. U.S. stocks rebounded from low levels on Friday. The Dow Jones Industrial Average had previously fallen by 416 points or 0.9%, but rebounded at the close, ending up 74 points or 0.2%, at 46,987 points. The S&P 500 index also closed up 8 points or 0.1%, at 6,728 points. The Nasdaq index's decline narrowed significantly from over 2% to 49 points or 0.2%, closing at 23,004 points.

Tesla (TSLA.US) shareholders approved Musk's approximately $1 trillion compensation plan with over 75% of votes in favor, with the stock closing down 3.7%.

Other tech stocks had mixed performances, with Meta (META.US) and Amazon (AMZN.US) rising 0.5%, while Apple (AAPL.US) fell 0.5%, and Alphabet (GOOG.US) continued to decline by 2%.

AI chip stocks attempted to reverse their downward trend, with Nvidia (NVDA.US) having previously dropped nearly 5%, ultimately closing at $188.15. Palantir (PLTR.US) fell 1.7%, and AMD (AMD.US) dropped 1.8%.

For the week, the Nasdaq index fell over 3%; the Dow Jones and S&P 500 indices both declined over 1%