The Dow Jones Industrial Average (DJIA) caught a firm bid on Friday, rising 482 points, or 1.04%, bottom-to-top. The Dow briefly pierced the 47,000 major price handle for the first time ever, before easing back to a more sedate +250 points (0.55%) on the day. Broad-market index gains were trimmed by a late-session pullback in familiar tech names such as Palantir (PLTR), Tesla (TSLA), and Nvidia (NVDA). Markets are shaking off the US government’s ongoing budget shutdown, with investors confident that the federal closure will be short-lived. In the meantime, the absence of key official labor data has limited the available pool of data that the Federal Reserve (Fed) can use to inform its interest rate decisions, reinforcing investor expectations that the Fed will deliver a follow-up quarter-point interest rate cut on October 29.