Stocks were mixed Wednesday amid rotation out of pricey megacaps into other less fashionable sectors. The Dow Jones industrial average gained 0.7 percent, the S&P 500 rose 0.1 percent, and Nasdaq slipped 0.3 percent. US Treasury yields, oil prices, and the dollar all fell.

Investor switching out of big technology favorites including Nvidia dampened the Nasdaq while gains in health care and financials helped the Dow outperform, led by a rally in Goldman Sachs, JP Morgan, American Express, and United Health. US airlines were among the day's winners as investors expect the government shutdown to end by the weekend and allow normal flight patterns to resume.

Risk sentiment has been bolstered by the view that the House is on track to approve the compromise measure to reopen the government late Wednesday. The measure was already approved by the Senate, and would only need to be signed by President Trump. Reopening optimism was undercut somewhat Wednesday by White House spokeswoman Karoline Leavitt's comment that October jobs and inflation reports might never come out after the reopening because of the shutdown.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.