This article first appeared on GuruFocus.

Oct 2 – The S&P 500 pushed to a fresh record Thursday, climbing 0.1% despite the ongoing U.S. government shutdown.

The Nasdaq Composite rose 0.3% to notch a new intraday high, while the Dow Jones Industrial Average gained 78 points, or 0.2%.

• List of 52-Week Lows

• List of 3-Year Lows

• List of 5-Year Lows

• Is SPY fairly valued? Test your thesis with our free DCF calculator.

Traders largely ignored Washington’s gridlock, with momentum instead coming from strength in megacap tech and corporate updates.

Nvidia (NVDA) advanced 1% and reached an all-time high, extending the AI-driven rally that has dominated markets this year. Tesla (TSLA) also stood out, with shares up 3% in premarket trading after the automaker reported 497,099 third-quarter deliveries, topping estimates of 447,600.

Despite the shutdown’s economic risks, investors focused on earnings optimism, Fed rate cut expectations, and AI momentum, factors that continue to outweigh near-term policy turbulence.