Wall Street's indexes closed at record highs on Wednesday, buoyed by strong sector performance and optimism that the US government shutdown will be brief.
Investors shrugged off the first day of the shutdown and weaker-than-expected private payrolls data, with the S&P 500 gaining 0.3%, the Nasdaq 100 rising 0.5%, and the Dow adding 43 points. Health-care stocks led the advance, driven by sharp gains in Regeneron (+6.7%), Moderna (+6.8%), Eli Lilly (+8.2%), and AbbVie (+5.5%), while optimism over Pfizer's (+2.2%) deal with the White House on Medicaid drug pricing provided additional support.
The ADP report showed a decline of 32,000 private-sector jobs in September, highlighting a slowing labor market, while US factory activity continued to contract for a seventh straight month. Overall, strong sector performance, particularly in healthcare, and confidence that the shutdown's economic impact will be limited helped lift US equities to record levels
Source: Trading Economi
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