Wall Street Gains on Optimism US Will Soon Reopen: Markets Wrap

Wall Street’s bets that the largest shutdown in US history is soon coming to an end drove a rebound in stocks, spurring optimism that access to official economic data will shed light on the Federal Reserve outlook.

The S&P 500 erased losses, with about 345 shares gaining. The Dow Jones Industrial Average climbed 1.2%. FedEx Corp. — a barometer of the economy — jumped over 5% as it expects profit this quarter to improve from a year ago. Nvidia Corp. sank 3% as SoftBank Group Corp. sold its entire stake in the chipmaker for $5.83 billion to help bankroll artificial-intelligence investments.