Investing.com – Wall Street opened higher on Tuesday as Republican and Democratic lawmakers reached a deal to avoid another government shutdown.
The deal is short of the $5.7 billion that U.S. President Donald Trump wanted for a border wall and would still need to pass both the House and Senate before being signed into law.
While it’s uncertain if Trump would sign the deal, investors are taking the news optimistically.
“What investors are taking from this is that the government stays open, whether or not Trump signs on the deal is secondary,” said Peter Cardillo, chief market economist at Spartan Capital Securities.
Under Armour (NYSE:UAA) was up 2.2% after the company’s earnings came in higher than expected. Chegg (NYSE:CHGG) surged 8% after its earnings topped guidance, while Coty (NYSE:COTY) jumped 10% after JAB offered to acquire additional shares at a price of $11.65 per share.
In commodities, gold futures inchd up 0.05% to $1,312.55 a troy ounce, while crude oil jumped 2.67% at $53.81 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.11% to 96.745.
— Reuters contributed to this report.