Stocks jump on hopes for an end to budget impasse
Oct. 10, 2013
NEW YORK (AP) — Stocks are rising sharply in early trading on Wall Street following hopeful signs that a budget impasse in Washington may break soon.
The Dow Jones industrial average jumped 154 points, or 1 percent, to 14,955 in the first few minutes of trading Thursday.
The Standard & Poor's 500 index rose 19 points, or 1.1 percent, to 1,675 and the Nasdaq composite rose 50 points, or 1.4 percent, to 3,728.
President Barack Obama will meet with House Republicans at the White House to seek a path beyond a confrontation that has left the government shuttered for almost two weeks.
House Republican leaders appear to be ready to advance a short-term debt limit increase that would prevent the first default on U.S. debt next week.