Dow Jones Hits Record High
US stocks rallied as the Dow jumped 410 points to a fresh record, while the S&P 500 and the Nasdaq posted modest gains, as growing confidence mounted that the long government shutdown will be resolved this week.
Health care was at the forefront, led by Eli Lilly up 3% and AbbVie up 3.6%, reflecting steady earnings momentum in the sector. Financials also outperformed as buyers piled into major banks, with Goldman Sachs rising 3.5%, JPMorgan up 1.5%, and American Express adding 0.7%. Meanwhile, AMD surprised to the upside with stronger guidance and rallied 9% helping lift peers such as Broadcomm and Qualcomm by 0.9% and 1.6%, respectively.
Those gains were capped by concentrated weakness among richly valued megacaps where profit taking persisted, keeping the Nasdaq under pressure. Traders remained focused on incoming labor prints and the congressional timetable for the final funding vote.
Source: Tradingeconomics.com
