By Steve Rothwell
- On the edge: House shutdown plan fails; now Senate takes lead
- Government shutdown delays Ohio jobs data report
- A deal: Voting to avoid default, open government
- U.S. builder confidence dips amid budget impasse
- Consumers don’t seem to be worried about potential default, local experts say
- Furloughed? Send creditors a note from government
- 2 parties bicker over blame for national parks shutdown
- Cruz won’t delay vote on bipartisan budget deal
- Short-term debt deal won’t mask big barriers ahead
- Health care target: 500,000 signups by Oct. 31
NEW YORK: Stocks are surging on Wall Street after Senate leaders reached a deal that would avoid a U.S. default and reopen the government after 16 days of being partially shut down.
The Dow Jones industrial average jumped 205 points, or 1.4 percent, to close at 15,373 Wednesday.
The Standard & Poor’s 500 index rose 23 points, or 1.4 percent, to 1,721 points. The S&P 500 is just four points below the all-time high it reached on Sept. 18.
The Nasdaq composite rose 45 points, or 1.2 percent, to 3,839.
Yields on Treasury bills fell sharply as investors became less nervous about a potential default by the government.
The gains were broad. Four stocks rose for every one that fell on the New York Stock Exchange. Trading volume was heavier than usual.