Dow Average Reaches All-Time Highs Prior to House Vote – US Market Wrap

Wall Street traders pushed most stocks higher and bond yields lower as House lawmakers prepared to end a historic government shutdown, restoring access to key economic data that will help shape the Fed’s policy outlook.

Historically, the resolution of the last four US shutdowns has lifted the S&P 500 and most of its sectors, based on median performance. Around 300 stocks in the benchmark advanced on Wednesday, though a decline in major tech names left the index fluctuating. The Dow Jones Industrial Average climbed for a fourth straight session, hitting fresh record highs. Bitcoin gave up earlier gains.

Treasuries rallied, with yields falling on expectations that the Fed will have room to cut rates next month to support the labor market. Reports on unemployment and October’s consumer price index are unlikely to be published due to the shutdown, White House Press Secretary Karoline Leavitt said.

House Speaker Mike Johnson said he expects the legislation — a hard-fought compromise crafted in the Senate and endorsed by President Donald Trump — to pass quickly. Still, he must hold his divided party together amid firm opposition from House Democrats, whose leaders are urging members to vote against the measure.

The S&P 500 hovered near 6,850. A gauge of tech megacaps slipped 1.2%. The 10-year Treasury yield fell five basis points to 4.07%, while the dollar steadied.

Oil posted its sharpest decline since June amid OPEC-related supply glut concerns.