Stocks were headed for gains at the open on Thursday as markets celebrated the end of the U.S. government shutdown.
Dow Jones Industrial Average futures were up 113 points or 0.2%. S&P 500 futures were rising 0.1% and Nasdaq 100 futures were gaining 0.2%.
The Dow finished 327 points higher at 48,254.82, its 17th record closing high of the year. That came as the Republican-led House passed a spending package reopening the government, which President Trump signed into law late Wednesday, drawing to a close a record 43-day U.S. government shutdown.
However, the White House indicated the reports on inflation and employment for October will not be published due to the long closure of federal agencies.
“We would not be surprised to see some market chop over the coming weeks as the government gears and economic data presses get turning again. The data blackout has made the Federal Reserve’s job difficult, but we still expect them to cut interest rates again in December,” said Carol Schleif, chief market strategist, at BMO Private Wealth.
Boston Fed President Susan Collins said Wednesday there should be a “high bar” for further easing by the Federal Reserve in the months ahead, in comments at a banking conference in Boston reported by The Wall Street Journal.
The yield on the benchmark 10-year Treasury note stood at 4.095% early on Thursday, ticking up from the previous day.
Among individual stocks, Disney will be in focus as the entertainment company reports its quarterly earnings on Thursday. Networking-equipment company Cisco Systems gained in after-hours trading on Wednesday following an earnings report where it raised its fiscal year outlook.