NEW YORK: Wall Street stocks jumped early Monday on optimism that the US government shutdown would soon end as a proposed deal cleared a key hurdle in the Senate.
The Republican-led chamber approved a procedural vote after a handful of Senate Democrats crossed over to permit debate on a measure that could end the longest shutdown in US history.
“It appears that because we have come one step closer to ending the government shutdown, that has given investors some optimism that the favorable seasonality could kick in once again,” said Sam Stovall of CFRA Research.
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About 20 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 47,205.56.
The broad-based S&P 500 gained 1.1 percent to 6,802.68, while the tech-rich Nasdaq Composite Index advanced 1.8 percent to 23,415.84.
Mastercard was flat and Visa was up 0.5 percent after the credit card giants reached a proposed settlement with merchants over fees in the long-running litigation. But the agreement requires the sign-off of a federal judge who blocked a prior accord.
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