05:05 PM EST, 11/12/2025 (MT Newswires) -- The Dow Jones Industrial Average hit a new all-time peak on Wednesday ahead of a crucial US House of Representatives vote later in the day that could end the country's longest-ever government shutdown.

The Dow rose 0.7% to 48,254.8, notching its back-to-back closing highs. The S&P 500 closed higher for the fourth straight session, edging 0.1% higher at 6,850.9. The Nasdaq Composite shed 0.3% to 23,406.5, extending losses from Tuesday.

Among sectors, health care paced the gainers, while energy saw the biggest drop.

The federal government would reopen if the House passes a funding package and US President Donald Trump signs the bill. The House is expected to vote on final passage around 7 pm ET, CBS News reported.

Earlier in the week, the Senate approved the funding package in a 60-40 majority.

Restoring government funding "is expected to alleviate expected flight cancellations, and initiate backpay for furloughed workers, as well as deploy delayed SNAP benefits to recipients, among others," said Lindsey Piegza, chief economist at Stifel, in a Wednesday note ahead of the US House vote.

SNAP refers to the government's food-aid program for low-income Americans.

The government reopening also means federal agencies will work through a backlog of data releases, though White House Press Secretary Karoline Leavitt said on Wednesday that October consumer price index and jobs reports may not be released at all, CNBC reported.

US Treasury yields were lower, with the 10-year rate down 4.8 basis points at 4.07% and the two-year rate falling 2.5 basis points to 3.58%.

The Federal Reserve should keep its monetary policy steady until there's "clear evidence" that inflation is approaching the central bank's 2% goal, Atlanta Fed President Raphael Bostic said Wednesday.

Bostic, who also announced a plan to retire at the end of his term Feb. 28, said that labor market signals are not "clear enough to warrant an aggressive monetary policy response," especially amid persistent inflationary pressures.

Late last month, the Federal Open Market Committee lowered its benchmark lending rate by 25 basis points for a second straight meeting and reiterated concerns regarding the labor market. In his post-meeting remarks last month, Fed Chair Jerome Powell indicated uncertainty around a potential rate cut in December, while some central bank officials have expressed worries over continued inflationary pressures.

"I view the (FOMC's) monetary policy today as marginally restrictive and favor keeping the funds rate steady until we see clear evidence that inflation is again moving meaningfully toward its 2% target," Bostic said in remarks prepared for a speech to the Atlanta Economics Club. "I do not view a severe labor market downturn as the most likely near-term outcome."

The probability of a quarter-percentage-point rate cut next month was at 65% Wednesday, with the remaining odds in favor of a no-change scenario, according to the CME FedWatch tool.

"The main risk to the stock market in the next few weeks is that the Fed definitively changes its mind about easing in December 2025 and/or early 2026, i.e., before Jay Powell leaves and is (presumably) replaced by a structurally 'dovish'," Macquarie said in a report.

Powell's term as Fed chief ends in May.

West Texas Intermediate crude oil slumped 4.2% to $58.45 a barrel in Wednesday late-afternoon trade. "Oil prices fell, weighed down by oversupply in the market," D.A. Davidson said in a note to clients.

The Organization of the Petroleum Exporting Countries kept global oil demand growth estimates unchanged, while the cartel raised its liquids supply outlook for this year.

In company news, Advanced Micro Devices ( AMD ) shares jumped 9%, the top gainer on the S&P 500. The chipmaker late Tuesday set long-term financial targets, including robust revenue and earnings growth, fueled by its data center and client and gaming businesses.

On Holding ( ONON ) lifted its full-year sales growth outlook Wednesday as the Swiss sneaker maker reported better-than-expected third-quarter results and said it's not planning any holiday season discounts. The company's US-listed shares surged 18%.

Gold was up 2.1% at $4,200.90 per troy ounce, while silver jumped 5% to $53.27 per ounce.