US stocks rise after deal to avert government shutdown

 

US stocks rose early Monday at the start of a heavy week of earnings and a Federal Reserve meeting, and as lawmakers reached a deal to avert a government shutdown.

The Fed is not expected to raise the benchmark interest rate Wednesday after increasing in March.

Analysts said sentiment was boosted by a deal among US congressional leaders to fund government operations through the end of the fiscal year September 30, averting a shutdown.

About 12 minutes into trading, the Dow Jones Industrial Average was up a hair at 20,942.80.

The broad-based S&P 500 rose 0.2 percent to 2,388.38, while the tech-rich Nasdaq Composite Index gained 0.4 percent to 6,069.71.

Major economic data releases this week include the April jobs report on Friday and readings on the services manufacturing and services sectors.

Earnings thus far this quarter have generally bested expectations. The calendar this week includes Apple (NasdaqGS: AAPL - news) , which reports Tuesday, Facebook (NasdaqGS: FB - news) and Pfizer (NYSE: PFE - news) .

Dish Network lost 0.5 percent after reporting revenues of $3.7 billion in the first quarter, missing analyst estimates by $100 million.

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