U.S. Government Prepares to Reopen and Defensive Stocks Shine

Barry Adams
13 Nov, 2025
New York City

Wall Street indexes struggled to advance amid market rotation as investors avoided increasing exposure to risk-on assets. 

The S&P 500 index decreased 0.2%, and the tech-heavy Nasdaq Composite declined 0.3% as investors awaited the resumption of key economic data. 

The U.S. House of Representatives ended the record 43-day-long federal government shutdown after passing a spending resolution by a 222-209 vote. 

The agreement between the Republicans and centrist Democrats approved government spending through January and financing of key government programs until the end of fiscal 2026. 

Most of the furloughed federal employees are expected to be rehired, and the federal government will resume the funding of food and nutrition assistance provided to about 42 million people.  

Financial markets have encountered additional challenges over the last six weeks due to a data blackout resulting from the prolonged government shutdown. 

The reopening of government will facilitate the resumption of the flow of macroeconomic data, including inflation and nonfarm payrolls data for September. 

 

U.S. Stock Movers 

Cisco Systems jumped 6.5% to $78.80 after the networking gear company's latest quarterly results surpassed market expectations. 

Cisco Systems said revenue in the fiscal first quarter ending on October 25 rose 8% to $14.9 billion from $13.8 billion, net income advanced 5% to $2.9 billion from $2.7 billion, and diluted earnings per share increased 6% to 72 cents from 68 cents a year ago. 

Firefly Aerospace soared 25% to $23.36 after the company reported better-than-expected third-quarter results. 

Revenue increased to $30.8 million from $22.4 million, net loss expanded to $140.3 million from $46.2 million, and diluted loss per share shrank to $1.50 from $3.57 a year ago. 

Outstanding shares jumped to 93.8 million from 12.9 million in the quarter a year ago. 

In the latest quarter, the Texas-based company recorded a one-time charge of $30 million to extinguish debt and $42.2 million in change in the fair value of warrant liability. 

Operating loss expanded to $62.2 million from $34.2 million in the quarter a year ago. 

Firefly estimated 2025 full-year revenue to be between $150 million and $158 million. 

Sweetgreen dropped 10% to $5.23 after the salad chain reported a wider-than-expected quarterly loss. 

Revenue in the third quarter ending on September 25 decreased 0.6% to $172.4 million from $173.4 million, net loss expanded to $36.2 million from $20.8 million, and diluted loss per share expanded to 31 cents from 18 cents a year ago. 

Same-store sales continued to shrink as the salad chains' core customers retrenched spending amid the cost of living crisis and avoided high-priced restaurants. 

Same-store sales decreased 9.5%, compared to an increase of 5.6% in the prior-year period. 

The company said it remained profitable at the restaurant level and earned $22.5 million compared to $34.9 million, but restaurant-level profit margin shrank to 13.1% compared to 20.1% a year ago, respectively.