(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

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Indexes up: Dow 0.77%, S&P 500 0.26%, Nasdaq 0.03%

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Advanced Micro Devices ( AMD ) gains after upbeat long-term

forecasts

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IBM ( IBM ) gains on new quantum computing chips

(Updates after markets open)

By Twesha Dikshit and Purvi Agarwal

Nov 12 (Reuters) -

Wall Street's main indexes gained on Wednesday, with the Dow

at a record high, as investors cheered a likely end to the

longest U.S. government shutdown and as an upbeat earnings

outlook from Advanced Micro Devices ( AMD ) revived optimism around AI.

AMD advanced 8.2% after the chip designer said it

expects annual data center chip revenue of $100 billion within

the next five years, and earnings to more than triple.

U.S. stocks came under pressure early on Tuesday after news

Japanese technology investor SoftBank Group sold its

stake in Nvidia ( NVDA ) and a forecast cut from AI cloud

services provider CoreWeave ( CRWV ) raised concerns about

rapidly growing valuations among tech companies.

On Wednesday, the broader semiconductor index gained

1.8%, while information technology shares rose 0.4%.

Goldman Sachs ( GS ) was the biggest boost to the Dow,

up 2.2%. Financials on the S&P 500 gained 1%.

At 9:41 a.m. ET, the Dow Jones Industrial Average

rose 361.85 points, or 0.77%, to 48,297.95, the S&P 500

gained 16.96 points, or 0.26%, to 6,864.31 and the Nasdaq

Composite gained 7.81 points, or 0.03%, to 23,476.11.

Meanwhile, members of the House of Representatives

headed back to Washington for a vote, that could reopen the

government and restore stability to air travel and food

subsidies.

"There is an even bigger mountain ahead of us and that

is the resumption of all of the economic data," said Michael

Landsberg, CIO at Landsberg Bennett Private Wealth Management.

"The market had been flying blind with no data and now

as the fog lifts, we will see if market positioning has been

correct and it is still clear sailing or if there is a big

repricing necessary."

The vote is due to take place on Wednesday evening on a

compromise that would restore funding to government agencies,

with President Donald Trump expected to sign it into law.

The 42-day long closure has weighed on the economy. In the

absence of government-collected data, both the Federal Reserve

and traders have looked to private economic indicators to gauge

the economic impact.

Tuesday's weekly update of ADP's preliminary payroll figures

pointed to continued weakness in the labor market, with private

employers shedding an average of 11,250 jobs a week for the four

weeks ending October 25.

Traders are currently pricing in a 63% probability of a

25-basis-point reduction at December's monetary policy meeting,

according to CME Group's FedWatch tool.

A host of Fed policymakers, including Governor Christopher

Waller, are scheduled to speak through the day.

With the third-quarter earnings season slowly winding down,

82% of 446 companies in the S&P 500 have reported their profits

above analyst expectations compared to a long-term average of

67%, according to LSEG data.

AI bellwether Nvidia's ( NVDA ) earnings next week could test the

optimism around the technology which has driven markets to

record highs this year, but come under more scrutiny in recent

weeks.

Among other moves, shares of IBM ( IBM ) rose 2.9%,

after announcing new

quantum computing chips

.

Advancing issues outnumbered decliners by a 1.99-to-1

ratio on the NYSE and by a 1.89-to-1 ratio on the Nasdaq.

The S&P 500 posted 18 new 52-week highs and one new low,

while the Nasdaq Composite recorded 47 new highs and 38 new

lows.