Investing.com – US stocks closed at record highs as investor appetite for riskier assets resumed after the Senate reached a deal to end the government shutdown.
The Dow Jones Industrial Average closed higher at 26214. The S&P 500 closed 0.81% higher, while the Nasdaq Composite closed at 7408.03, up 0.98%.
Members of the senate voted Monday 81-18 in favour of a bill to allocate funding through Feb. 8 and start negotiations on issues related to immigration, paving the way for an end to a government shutdown.
US stocks added to gains ahead of the vote as investor expectations grew that lawmakers would reach a deal to end the government shutdown, while optimism on corporate earnings continued to lift sentiment.
Halliburton (NYSE:HAL) reported earnings that beat on both the top and bottom lines. Loop Capital Markets Managing Director Stephen Gengaro cited broad-based revenue growth and solid margins in the drilling & evaluation segment as supportive factors contributing to the earnings beat.
In corporate news, Apple closed nearly 1% lower as expectations for weaker iPhone demand continued to add downside pressure. Weakness in Apple, however, was offset by a sharp uptick Facebook (NASDAQ:FB), Google (NASDAQ:GOOGL), Netflix (NASDAQ:NFLX).
Netflix is slated to report quarterly earnings on Monday after markets close, with subscriber growth expected to garner the most investor attention. Wall Street estimates the streaming giant added 54 million US users and 61.6 million internationally.
'Bulls and Bears' on Wall Street
The top Dow gainers for the session: Verizon Communications Inc (NYSE:VZ) rose 3%, Goldman Sachs Group Inc (NYSE:GS) up 2.1% and Intel Corporation (NASDAQ:INTC) up 2.1%
Nike (NYSE:NKE) down 1.3%, General Electric Company (NYSE:GE) down 1.1%, and Apple Inc (NASDAQ:AAPL) down 0.9%, were among the worst Dow performers of the session.