US stocks rallied, with the Dow surging 410 points to a new record high, while the S&P 500 and Nasdaq posted modest gains, as confidence grew that the prolonged government shutdown would end this week. The healthcare sector led the way, led by Eli Lilly (up 3%) and AbbVie (up 3.6%), reflecting steady earnings momentum in the sector.
The financial sector also outperformed as buyers flocked to major banks, with Goldman Sachs (up 3.5%), JPMorgan (up 1.5%), and American Express (up 0.7%). Meanwhile, AMD (AMD) surprisingly rose with stronger projections, rising 9%, helping lift peers like Broadcomm and Qualcomm (up 0.9%) and Qualcomm (1.6%), respectively.
These gains were limited by concentrated weakness among highly valued megacap stocks, where profit-taking continued, keeping the Nasdaq under pressure. Traders remain focused on upcoming employment data and the congressional schedule for the final funding vote. (alg)
Source: Trading Economics
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