The Dow Jones Industrial Average
The blue-chip index climbed nearly 330 points to close at a new high of 48,255.00 -- its first ever above 48,000 -- driven higher by record gains from Goldman Sachs
The broader market S&P 500 Index
The House of Representatives is set to vote Wednesday on the deal passed by the Senate on Monday that could end the longest government shutdown in U.S. history. However, it may take some time for federal operations to return to previous levels, with the White House stating on Wednesday that October's economic reports on the labor market and inflation would "likely never" be released as agencies halted collecting data.
"All of the economic data released will be permanently impaired, leaving our policymakers at the Fed, flying blind at a critical period," White House press secretary Karoline Leavitt told reporters on Wednesday.
Elsewhere, New York Federal Reserve President John Williams said in a speech on Wednesday that policymakers could restart the central bank's bond purchases as pandemic-era liquidity wanes. Williams said the Fed will end its quantitative tightening strategy and will determine the next phase of its balance sheet management once it reached an "ample" level of U.S. Treasuries and mortgage-back securities.
"It will then be time to begin the process of gradual purchases of assets that will maintain an ample level of reserves as the Fed's other liabilities grow and underlying demand for reserves increases over time," Williams said, adding that this is "the next natural stage" for the Fed's strategy and will not be a change in monetary policy.
On Thursday, investors will turn their attention towards a series of Fedspeak throughout the session. Key earnings reports for the day also include Disney
