S&P Resumes Upward Trend

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up arrow stock stockbroker businessman climbS&P Resumes Upward Trend (Bloomberg)

The S&P 500 Index rose 0.6% today to bring the index back to levels last seen in September, before the federal government’s shutdown. Wall Street responded optimisticly to reports that the White House and Republicans are negotiating a debt-limit increase and approval of funding for the government. “The quicker we can get this sideshow out of the way, the quicker that investors can focus on the actual fundamentals,” said Jim Russell, a senior equity strategist for U.S. Bank Wealth Management. “It’s critical because every day that we’re hanging out there without the federal government being up and running, it damages the economy, it damages earnings, it damages investor confidence.”

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