The Dow Jones Industrial Average broke new ground Wednesday, closing above the 48,000 threshold for the first time amid optimism that the protracted U.S. government shutdown could soon end. The blue-chip index advanced 326.86 points, or 0.68%, to finish at 48,254.82, setting both a record closing and intraday high.
Meanwhile, the S&P 500 hovered near unchanged levels, slipping in and out of positive territory before ending the day up 0.06% at 6,850.92. The tech-heavy Nasdaq Composite fell 0.26% to close at 23,406.46.
Market sentiment was underpinned by developments in Washington, as investors looked ahead to a resolution of the longest federal government shutdown on record. Late Wednesday, the House of Representatives began its decisive vote on a temporary funding measure intended to restore operations at federal agencies through at least the end of January. The chamber had earlier approved a necessary procedural step, clearing the way for the final vote.
President Donald Trump has indicated support for the measure and is expected to sign it into law. According to the White House, a bill signing ceremony has been scheduled in the Oval Office for 9:45 p.m. ET., which is 9:45 a.m. in Thailand.
