U.S. stocks coasted to the finish of their latest winning month. The S&P 500 rose 0.4% Tuesday to close out its fifth straight winning month after setting a record last week. The Dow Jones Industrial Average gained 0.2%, and the Nasdaq composite rose 0.3%. The quiet trading came as a potential shutdown of the U.S. government loomed. Past shutdowns have had limited impact on the economy and stock market, and many investors expect something similar this time around. Treasury yields wavered but ultimately held relatively steady following mixed reports on the U.S. economy.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
U.S. stocks are coasting toward the finish of Wall Street’s latest winning month on Tuesday, as financial markets give a collective yawn for the potential shutdown of the U.S. federal government that’s looming.
The S&P 500 edged up by 0.1% and is on track for a fifth straight winning month after setting a record last week. The Dow Jones Industrial Average was down 18 points, or less than 0.1%, with an hour remaining in trading, and the Nasdaq composite was virtually unchanged.
The quiet trading came as a midnight deadline approached, when the U.S. government looks likely to shut down because of Washington’s latest political impasse. That’s because history has shown that past shutdowns have had limited impact on the economy and stock market, and many economists and professional investors expect something similar this time around.
