Stock Market Live November 12: S&P 500 (VOO) Rises as House of Representatives Prepares to Vote

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Swiss shoemaker On Holding AG (NYSE: ONON) beat earnings with a Q3 report of CHF0.36 earned in Q3 2025. Quarterly revenue of CHF794.4 million was likewise better than expected.

“On” the subject of guidance, On Holding promised to beat analyst forecasts with CHF2.98 billion earned through the end of this year. Management also raised its guidance for “adjusted Ebitda” profit margin to more than 18%.

On stock is up more than 24% in early trading, but the Voo’s gain has shrunk to just 0.1%.

This article will be updated throughout the day, so check back often for more daily updates.

It’s Wednesday, and the U.S. House of Representatives looks ready to vote on a set of bills, that originated in the Senate Monday evening, to reopen the federal government, fund SNAP, WIC, and veterans’ benefits through the end of fiscal 2026, and restore funding generally through January 30.

The vote won’t happen until this evening, if then, but the Vanguard S&P 500 ETF (NYSEMKT: VOO) is already looking optimistic, rising 0.3% premarket.

Adding to investor optimism is renewed interest in the AI play. In comments given at the company’s 2025 “financial analyst day,” Advanced Micro Devices (Nasdaq: AMD) CEO Lisa Su informed that “insatiable” demand for AI chips continues unabated today, and AMD is looking to grow its sales 35% annually over the next three to five years. Sales of AI chips for data centers will grow even faster, says the CEO — as much as 80% per year over the same period. And as sales power higher, Su argues AMD will be able to grow its share of the AI data center market from single digits today to double digits as early as 2028.

AMD stock, which is an S&P 500 component company, is up more than 6% premarket on the news, and other high profile AI stocks are moving higher alongside it. Oracle (NYSE: ORCL) stock for example is up a fraction of 1%, while both Nvidia (Nasdaq: NVDA) and Super Micro Computer (Nasdaq: SMCI) are up more than 1%.

Earnings

In earnings news, airplane parts supplier and S&P 500 component TransDigm (NYSE: TDG) is gaining 0.3% after beating by 75 cents this morning. TransDigm says it earned $10.82 per share on more than $2.4 billion in revenue in its fiscal Q4 2025, beating on both top and bottom lines.

TransDigm also gave strong guidance for the coming fiscal year 2026, predicting it will earn between $36.49 and $38.53 per share on sales approaching $10 billion, all numbers ahead of Wall Street forecasts.

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