Wall Street Is Buying the Dip in Big Tech After Shutdown Deal

The Magnificent Seven stocks were finally living up to their nickname as lawmakers moved to end the government shutdown.

The Nasdaq Composite surged 2%, while the S&P 500 was up 1.2%. The Dow was up 170 points, or 0.4%. Market breadth was actually negative, but Big Tech stepped up to plug the gaps.

All of the Mag 7 stocks were up 1.7% or more; Nvidia led the pack with a 3.9% gain; Alphabet and Tesla were both up more than 3%; Amazon.com was up 2.1%; Meta Platforms was up 1.9%; Microsoft and Apple were up 1.7%.