Dow Jones Rises Over 550 Points on Strong Earnings, Apple Sales

Wall Street opened the week with strong gains, as the Dow Jones Industrial Average surged over 550 points amid growing investor optimism about a potential end to the 20-day federal government shutdown. National Economic Council Director Kevin Hassett indicated the shutdown could conclude within the week, with the Trump administration prepared to impose punitive measures if Senate Democrats persist. Corporate earnings reports have been a bright spot, with about 85% of S&P 500 companies exceeding expectations, reinforcing confidence in economic resilience. Apple shares notably contributed to the rally, rising 4% following robust sales reports of the iPhone 17 and the rapid sellout of the iPhone Air in China, pushing the S&P and Nasdaq towards record highs. Market sentiment has improved after earlier turbulence caused by President Trump's tariff threats on China, which he has since retracted, shifting focus towards upcoming Big Tech earnings and their AI-related profitability. Overall, the market momentum reflects a blend of political developments and strong corporate performance encouraging investor confidence.