Dow Up Almost 200 Points In Hope Of Budget Deal

DOW_2013Stocks climbed on Wednesday, with the Dow adding nearly 200 points, as investors were encouraged that lawmakers would strike a last-minute deal to prevent the country from defaulting on its debt.

Major averages took a leg higher after Reuters reported that U.S. Senate negotiators are “very close” to announcing a deal on extending the debt ceiling.

The Senate is likely to move “quickly” to pass a fiscal debt deal currently being negotiated, according to a Senate aide. Senate leaders are in talks with House leaders to find a way to win fast passage of the deal in both chambers.

The Dow Jones Industrial Average rallied from Tuesday’s sell-off and was up 183 points, or 1.2 percent in early morning trading, boosted by UnitedHealth and JPMorgan.


Source: NBC News