However, the markets ran out of steam after that.
Investors will continue to assess economic data through the lens of the Fed’s plans on tapering the stimulus program. Next week’s schedule includes last month’s jobs report and the first estimate of third-quarter economic growth.
The Fed will be closely looking at the jobs data to determine whether the partial government shutdown “had a long-term effect, or if it’s just going to cause blip during the month of October,” Kenjol Capital Management portfolio manager David Levy said.
“The result will affect the Fed and their policy,” he said.