New York City - US stocks Tuesday opened higher despite the uncertainty generated by the US government's first shutdown in 17 years.
Five minutes into trade, the Dow Jones Industrial Average added 15.54 points (0.10 percent) at 15,145.21.
The broad-based S&P 500 tacked on 5.39 (0.32 percent) at 1,686.94, while the tech-rich Nasdaq Composite Index rose 14.96 (0.40 percent) to 3,786.43.
The gains followed recent losses as investors grew nervous about a looming government shutdown amid a political impasse over striking a budget deal.
Art Hogan, head of product strategy for Lazard Capital Markets, said investors are likely assuming the shutdown will be short.
“The market is reflecting the assumption it is going to be over in 48 hours,” Hogan said.
“I don't know if it is going to be the case.”
“The longer this situation persists, the more of an adverse effect it is going to have on the economy and the market,” Hogan added. - Sapa-AFP