Dow notches record high close, traders bet on end to government shutdown

Market Overview - The Dow Jones Industrial Average surged to a record high close, driven by progress toward ending the U.S. government shutdown, while Nvidia and other AI-related companies faced renewed valuation concerns [8] - The S&P 500 climbed 0.21% to end at 6,846.61 points, while the Nasdaq declined 0.25% to 23,468.30 points [2][3][8] - The Dow has gained almost 13% in 2025, lagging behind the S&P 500's 16% rise and the Nasdaq's nearly 22% increase [8] Sector Performance - Ten of the 11 S&P 500 sector indexes rose, with health care leading the way, up 2.33%, supported by gains in Eli Lilly, Johnson & Johnson, and AbbVie, each rising more than 2% [8] - Occidental Petroleum edged up 0.1% after beating third-quarter profit expectations [8] - Paramount Skydance surged almost 10% following the announcement of cost cuts and plans to invest $1.5 billion in its streaming and studio divisions [8] Employment Data - Sentiment was dampened by ADP's preliminary payroll figures indicating that private employers shed an average of 11,250 jobs per week for the four weeks ended October 25 [8] Market Sentiment - Advancing issues outnumbered falling ones within the S&P 500 by a 2.2-to-one ratio, with the S&P 500 posting 30 new highs and two new lows, while the Nasdaq recorded 104 new highs and 128 new lows [7][8] - U.S. bond markets were closed for the Veterans Day holiday, resulting in light trading volume of 15.3 billion shares, compared to an average of 20.8 billion shares over the previous 20 sessions [7][8]