Wall Street ends higher despite looming government shutdown

US stock indices closed the fourth session of the higher after closing on Monday for the Martin Luther King holiday, with consumer stocks leading the charge up, as the fourth-quarter earnings season carries on for major American banks and corporations.

The University of Michigan released its Consumer Sentiment survey for January, showing a dip to 94.4 from December's 95.9, missing expectations of 97.0. 

The economic conditions gauge in the same survey fell as well to 109.2 from 113.8 in December, while economic expectations rose to 84.8 from 84.3. One-year inflation outlook rose to 2.8% from 2.7%, while five-year outlook rose to 2.5% from 2.4%. 

Now investors look forward to a voting session in the Senate on a bill to temporarily fund the government by the Republican Party to avoid a shutdown, after the House of Representatives passed it by a 230-197 margin.  

Dow Jones rose 0.21%, or 53.91 points to 26,071.72, while Standard and Poor's 500 added 0.44%, or 12.27 points to 2,810.30. NASDAQ Composite advanced 0.55%, or 40.33 points to 7,336.38. 

Gold futures due on February 16 rose 0.34% to $1,331.70 a barrel from the opening of $1,327, while the dollar index climbed 0.18% to 90.67 from the opening of 90.50. 

Otherwise, US West Texas Intermediate fell 0.31% to $63.54 a barrel from the opening of $63.74, while Brent futures due on March 15 shed 0.38% to $68.75 a barrel from the opening of $69.01.