Stock Market Today: Dow Scores Second Consecutive Close As House Returns to End Shutdown

Market Performance - The Dow Jones Industrial Average reached a record high of 48,320.17, with a gain of 0.82% [1] - The S&P 500 saw a slight increase of 0.14%, while the Nasdaq experienced a decline of 0.27% [2] - The Dow led the market with a closing value of 48,255, marking another record close [3] Company Earnings - Cisco Systems reported earnings of $0.72 per share, below the forecast of $0.98, but revenue of $14.9 billion exceeded expectations of $14.78 billion [2] - AI infrastructure orders for Cisco totaled $1.3 billion in Q1, with projected revenue of $3 billion for FY 2026 [2] - McGraw Hill saw a significant increase in stock price by 20.5% due to earnings results, while Contessa Pharmaceuticals and On Holding also reported gains of 17.6% and 17.4% respectively [5] Market Trends - The tech sector faced declines, with notable drops from major companies such as Tesla (-2.74%), Meta (-2.67%), and Alphabet (-2.38%) [7] - Memory prices are rising as traders shift focus from compute to memory components, impacting companies like Samsung, SK Hynix, and Micron [10] - Opendoor's stock has surged 447% year-to-date, driven by speculative trading, despite a 70% revenue decline from its peak [16][18] Economic Indicators - Fed Governor Raphael Bostic warned of potential price increases in 2026, raising concerns about inflation and interest rates [9] - The Mortgage Bankers Association reported a 0.6% increase in mortgage applications, indicating ongoing activity in the housing market [23]