Wall Street Rises Amid Shutdown Resolution Hopes

Wall Street's key indexes saw gains as progress in Congress towards ending a prolonged government shutdown fueled investor optimism. The shutdown, the longest in history, has created economic uncertainties. Tech stocks rebounded, while airlines faced pressure due to disrupted flights, which underscores ongoing economic challenges.

Wall Street's principal indexes climbed on Monday, buoyed by advancements in Washington aimed at resolving the lengthy government shutdown, which has delayed economic data releases and heightened concerns regarding the economy's health. Over the weekend, senators moved forward with a House-approved bill to fund the government until January 30, setting the stage for Senate approval, House passage, and ultimately, President Donald Trump's endorsement, a process that could span several days.

"The government shutdown persisted much longer than anticipated, sparking concerns over the economy, with potential flight cancellations possibly exerting further economic strain," remarked Chris Zaccarelli, Northlight Asset Management's chief information officer. "This negativity allowed bearish views on the tech sector to flourish," he added.

Tech stocks saw a rebound, with Nvidia jumping 3.4%, and Alphabet and Meta Platforms rising 2.5% and 1.5%, respectively. Information technology and consumer discretionary stocks significantly contributed to the S&P 500's gains amid an improving trading session.

(With inputs from agencies.)