Dow Jones: Goldman Powers US Stocks Higher as Shutdown Resolution Gains Traction

Dow Surges to Record as Traders Bet on Shutdown Resolution

The Dow Jones Industrial Average jumped 397 points at the mid-session Wednesday, hitting a fresh intraday high as traders looked past a tech pullback and bet that Washington will finally get a deal done.

With a vote expected later tonight to end the longest U.S. government shutdown in history, buyers rotated into financials and economically sensitive names, lifting the blue-chip index to a new peak.

The S&P 500 dipped slightly, while the Nasdaq lagged on continued weakness in tech.

Is Wall Street Betting the Shutdown Ends Tonight?

Sure looks that way. Optimism over a deal sent confidence soaring, especially in the Dow’s financial heavyweights. The Senate passed a spending bill Monday, and House Majority Leader Steve Scalise said a vote could come as early as 00:00 GMT Thursday. Traders are treating the outcome as a lock.

The thinking? Once the government reopens, economic data starts flowing again—and with soft labor signals emerging, the market wants more clarity.

Which Stocks Are Powering the Dow’s Run?

Financials led the charge. Goldman Sachs popped nearly 3%, JPMorgan gained 1.9%, and American Express notched another all-time high. Caterpillar climbed 1.65% as traders bid up cyclical names tied to growth.

The Financial Select SPDR Fund (XLF) rose 1%, boosted by strength in Morgan Stanley, Wells Fargo, and Bank of America—all tagging fresh highs. Still, this wasn’t a full-blown risk-on day. Tech struggled.

Tech Still Can’t Shake Off the Volatility

The AI trade is still swinging. AMD surged 9% after laying out strong long-term targets, but names like Palantir and Oracle took a step back. Traders aren’t pulling the plug—they’re just getting selective. “We’re not calling it a bubble,” said GuideStone’s Josh Chastant, “but things are rich.” Translation: time to lock in some gains and look elsewhere for value.

Who’s Moving the Most Outside the Dow?

RXO added 6% after a Morgan Stanley upgrade. BILL Holdings ripped 12% on M&A rumors. BigBear.AI extended a two-day pop, and On Holding soared 19% on strong guidance and zero need for Black Friday discounts. On the downside, Nextracker dropped 9% despite reaffirming its outlook, while GlobalFoundries slipped over 3% even after beating estimates.

Bottom Line: Clarity Wins, Uncertainty Gets Sold

Markets are rewarding what’s clean—and punishing what’s murky. A shutdown resolution would take one key risk off the table, but follow-through depends on what comes next. If fresh data confirms economic resilience, bulls may have room to run. But if the market’s just front-running headlines, watch for tech to give back ground. Smart money is still being selective.

More Information in our Economic Calendar.