Stocks Mostly Rise as Government Prepares to Reopen

Market Performance: The S&P 500 and Dow Jones closed higher, with the Dow reaching an all-time high, driven by optimism over a potential end to the government shutdown and strong semiconductor stock performance, particularly Advanced Micro Devices.

Interest Rates and Economic Indicators: Atlanta Fed President Raphael Bostic emphasized the importance of price stability, suggesting interest rates should remain steady. The markets are anticipating a 64% chance of a rate cut at the upcoming FOMC meeting.

Corporate Earnings: Q3 earnings reports show 82% of S&P 500 companies exceeded forecasts, with a 14.6% increase in earnings, significantly higher than the expected 7.2% growth, marking the best quarter since 2021.

Sector Movements: Chip stocks rallied, while the Magnificent Seven tech stocks faced declines. Energy producers fell due to a drop in crude oil prices, and several companies, including On Holding and Bill Holdings, saw significant stock price increases following positive news.