Wall Street stocks rose early Wednesday as markets anticipated a congressional vote that would reopen the government after the longest shutdown in US history.
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AFP reports: The House of Representatives appeared likely to vote Wednesday on a spending bill to solve the six-week standoff, after eight Democrats broke ranks in the Senate on Monday to side with Trump’s Republicans.
Hopes about the reopening have offset worries about excessive valuations for artificial intelligence stocks in recent days.
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.6 percent at 48,232.83.
The broad-based S&P 500 added 0.3 percent at 6,865.96, while the tech-rich Nasdaq Composite Index climbed 0.2 percent to 23,509.27.
Adam Sarhan of 50 Park Investments said the market’s trajectory could be choppy until there are concrete signals about the economy after the shutdown resulted in a dearth of economic data.
“Investors are going to wait for the next bullish catalyst, which could be Nvidia, arguably the most important AI stock out there right now,” or the wave of data once the government reopens, Sarhan said.
Nvidia is scheduled to report earnings on November 19.