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Dow Soars More than 550 Points as Wall Street Embraces Optimism that Government Might Reopen Soon
The Dow rose 559 points as Senate approval of a funding bill raised hopes of ending the shutdown and releasing delayed economic data, boosting investor confidence.
- On Tuesday, the Dow Jones industrial average rallied, gaining 559 points, or 1.18%, closing at a record high.
- Monday's Senate approval moved a stopgap bill to the House, with analysts saying it raises chances the shutdown ends this week, boosting market sentiment.
- Investors rotated out of tech into health care, energy and consumer staples, lifting many non-tech names as the Nasdaq fell 0.3% and Nvidia declined amid profit-taking.
- An end to the shutdown would reopen delayed economic reporting on jobs and inflation, and restored data could shift rate expectations with traders seeing a two-in-three chance of a Federal Reserve cut in December.
- Broader support from earnings and AI demand underpins the market backdrop, with the S&P 500 tending to rise 2.27% after reopenings, according to Hoffmann-Burchardi.
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The Parisian flagship index reached a new historic summit, taking advantage of the imminent end of the "shutdown" in the United States, which is to be voted in the evening at the American Congress.
·Paris, France
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Mixed trends prevailed today on the New York Stock Exchange, where the Dow Jones climbed to a historic high again in anticipation of the end of the longest period of fiscal paralysis (shutdown) in US history. In particular, the Dow Jones industrial average closed with a rise of 326.86 points (+0.68%), at 48,254.82 points. The Nasdaq index, dominated by technology companies, closed with a fall of 61.84 points (–0.26%), at 23,406.45 points. The br…
Coverage Details
Total News Sources37
Leaning Left13Leaning Right3Center14Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 43%
C 47%
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