Stock markets fluctuated Wednesday as optimism that the US government shutdown was nearing an end and another Federal Reserve interest rate cut was on the horizon failed to sustain a rally.

Traders broadly welcomed an expected vote to reopen the government, after the longest shutdown in US history effectively stemmed the flow of official economic data and closed down vital services.

The House of Representatives appeared likely to vote Wednesday on a spending bill to solve the budget standoff after eight Democrats broke ranks in the Senate on Monday.

But the news failed to sustain a rally across the board on US markets — the Dow rising while the tech heavy Nasdaq and the S&P 500 fell back in the first few hours of trading.

In Europe, Paris hit a new record and Frankfurt also rose after

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