U.S. stocks advanced on Monday as each of Wall Street’s main indexes touched a record intraday level after U.S. senators struck a deal to end the federal government shutdown.
U.S. senators voted to move forward on legislation that would reopen the federal government until Feb. 8. Funding legislation cleared a procedural hurdle in the Senate and was expected to pass a full Senate vote promptly, allowing government to re-open.
“The only way politics affects what the market does is if they end of having a negative impact on the economy and corporate earnings and so far that hasn’t been the case,” said Michael Arone, Chief Investment Strategist at State Street Global Advisors in Boston.
“The market has been more than willing to ride the tailwind of better global growth and higher corporate earnings, not only in the U.S. but globally.”
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