Chart of the day: US30 (12.11.2025)

The US30 continues its upward momentum after closing yesterday’s session at a record high of around 48,000 (+1.3%), driven by a massive rotation of capital across Wall Street. While the potential end of the U.S. government shutdown supports broad market optimism, persistent concerns over high valuations in the AI sector have redirected capital toward more traditional value stocks.

The US30 successfully broke above the 30-day exponential moving average, consolidating its position by closing above the previously established resistance near 47,860. Holding above the psychological level of 48,000 will be key for further gains toward the upper boundary of the recent technical structure, though the RSI entering overbought territory may limit optimism for the index’s value-oriented names. (Source: xStation5)

What’s driving the US30 today?

• The U.S. House of Representatives (the lower chamber of Congress) will vote today on the Senate’s federal funding bill, whose approval could pave the way to ending the more than 40-day government shutdown. The bill provides for full federal funding through January 2026, an annual budget for key agencies, and the payment of frozen wages to federal employees.

• The Dow Jones Industrial Average, like other major U.S. indices, returned to gains early this week after the bill passed the Senate with the support of eight moderate Democrats. However, the broad market euphoria proved short-lived, as Tuesday saw a massive rotation of capital from growth stocks into more defensive sectors such as consumer staples and healthcare.

• The technology sector remains weighed down by valuation concerns, as shown by Nvidia’s nearly 3% drop yesterday, deepened by SoftBank’s complete divestment of its Nvidia stake and disappointing results from AI cloud provider CoreWeave.

• The new record high for the DJIA was primarily driven by biotech stocks, which led gains during yesterday’s session (Merck & Co.: +4.8%, Amgen: +4.6%, Johnson & Johnson: +2.9%). The only decliners in the index were Nvidia, JPMorgan, Caterpillar, and Cisco. Interestingly, the tech sell-off spared Apple (+1.7%), which, as a hardware and product-based company, straddles both growth and value characteristics.