Government Shutdown Over, Markets Close the Week Higher
(NEW YORK) -- With the worries in Washington over for now, the markets pushed higher to end the week. The Dow Jones Industrial Average closed up 28 points at 15,399.65. The Nasdaq Composite added 51.13 points to close at 3,914.28. The S&P 500 moved further into record territory, adding 11 points for the session to 1,744.50.
One analyst described it this way: Investors' focus has moved from the dysfunction in the government to the reality of the global economy, and it looks pretty good.
As for the Labor Department, the September unemployment report, delayed due to the government shutdown will come out on Tuesday.
Retailers, however, are still feeling the effects of the shutdown. Joseph A. Bank Clothiers and furniture chain Ethan Allen say customers cut back on purchases in recent weeks, while auto sales also trailed off. The companies are also worried that holiday shopping will be slow.
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